Shurgard Self Storage Third Quarter 2021 Results
shg-prd.azureedge.net/-/media/shurgard/...er-2021-results.pdf
Exceptional Q3 performance (at CER)*
o 10.7% Property operating revenue growth;
o 13.2% Income from property (NOI) growth;
o 9.0% Same store property operating revenue growth;
o 91.8% Same store average occupancy rate (growth for the quarter of 2.2pp,);
o 70.7% Same store NOI margin, up 1.8pp versus Q3 2020;
o Delivery of €35.2 million adjusted EPRA earnings, which represents a growth of 9.7%;
o GRESB 2021: 5 star achieved with a score of 87/100 after only three years (+9 points versus
last year or +27 points versus the first year of participation), 1st place of our category, “Sector
leader status” received for the category “Other” and awarded the maximum score of 100/100
in the “Public Disclosure” category (A rating), which rewards the quality and transparency of
our reporting.
Solid YTD performance (at CER)*
o 8.7% Property operating revenue growth;
o 9.4% Income from property (NOI) growth;
o 6.5% Same store property operating revenue growth;
o 90.3% Same store average occupancy rate (growth for the first nine months of 2.1pp,);
o 65.3% Same store NOI margin, up 1.1pp versus last year;
o Rental collection in September is in line with historical pattern at 98.3%;
o Delivery of €96.6 million adjusted EPRA earnings, which represents a growth of 10.2%;
o Our pipeline for 2021, 2022 and 2023 represents 9% (or 109,083 sqm) of our total net rentable
sqm, in line to achieve our new strategy plan as described during our Investor Day 2021.