StorageVault Delivers 10% Revenue Growth in Fiscal 2025, Expands Platform, Increases Dividend and Reaffirms Growth Outlook

Core Insights - StorageVault Canada Inc. reported a 10% increase in revenue for 2025, reaching $335.1 million, and a 9.5% increase in net operating income (NOI) to $220.7 million, driven by strong same-store performance [2][3] - The company achieved a 5.8% growth in adjusted funds from operations (AFFO) per share, indicating solid operational performance [2][3] - For 2026, StorageVault anticipates continued growth in revenue, NOI, and AFFO, with plans to complete over $100 million in acquisitions and expand its footprint by 165,000 square feet [1][2] Financial Performance - Revenue increased from $304.7 million in 2024 to $335.1 million in 2025, marking a 10% growth [2] - NOI grew from $201.6 million in 2024 to $220.7 million in 2025, a 9.5% increase [2] - Cash flow from operations rose to $105.7 million from $100.9 million year-over-year [2] - The net loss for 2025 was $12.5 million, an improvement from a net loss of $30.2 million in 2024, influenced by non-cash items [2][6] Operational Highlights - Same-store revenue and NOI growth were 4.1% and 4.3%, respectively, compared to the previous year [3] - Funds from operations (FFO) increased by 3.7% year-over-year, reaching $82.5 million in 2025 [3] - AFFO also saw a 3.7% increase, totaling $90.5 million for the year [3] Future Outlook - The company expects to generate an additional $8.9 million in NOI annually from recently acquired and renovated properties as they stabilize over the next three years [4] - StorageVault aims to maintain its position as Canada's leading storage provider by enhancing its service offerings and expanding its market presence [1][10] Dividend Announcement - StorageVault announced a 0.5% increase in its Q1 2026 dividend to $0.003006 per common share [9] Company Strategy - The company focuses on owning and operating storage facilities in top Canadian markets, leveraging a multi-platform approach that includes portable storage and logistics services [10][19] - Growth strategies include acquisitions, organic performance improvements, and targeted expansions to meet demand [10]