StorageVault Reports 2025 Second Quarter Results and Increases Dividend

Core Insights - StorageVault Canada Inc. reported strong second quarter results for 2025, with a same-store revenue growth of 6.6% and a net operating income (NOI) growth of 5.2%, leading to a 5.4% increase in adjusted funds from operations (AFFO) per common share [1][2][3] Financial Performance - Revenue for Q2 2025 increased to $83.5 million from $74.1 million in Q2 2024, marking a 12.7% increase, while NOI grew to $55.2 million from $49.9 million, a 10.6% increase [2][14] - Funds from operations (FFO) for Q2 2025 were $20.3 million, a 3.4% increase from $19.7 million in Q2 2024, and AFFO was $22.9 million, a 3.0% increase from $22.3 million [3][17] - The net loss for Q2 2025 was $6.2 million, an improvement from a net loss of $8.7 million in Q2 2024, influenced by non-cash and non-recurring items [2][6] Year-to-Date Results - For the six months ended June 30, 2025, revenue increased to $159.8 million from $145.5 million, a 9.8% increase, and NOI grew to $102.9 million from $94.2 million, a 9.2% increase [6][7] - The net loss for the first half of 2025 was $17.5 million, slightly worse than the net loss of $16.6 million in the same period of 2024 [6][7] Dividend Increase - StorageVault announced a 0.5% increase in its Q3 2025 dividend to $0.002976 per common share [9] Strategic Focus - The company aims to continue disciplined asset purchases and maintain a strong emphasis on cost control while maximizing revenues, NOI, and free cash flow [1][10] - StorageVault's growth strategy includes acquisitions, organic growth, and expansion of existing stores and services [10][18]