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24Storage Interim Report Q2 2022
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Beskrivning
| Land | Sverige |
|---|---|
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
2022-07-15 12:16:00
The second quarter was characterised by stable progress, positive growth and improved margins thanks to increased maturity for the company's facilities
SECOND QUARTER 2022
- Net sales increased by 28 percent to SEK 32.7 M (25.5), driven by positive growth for the company´s facilities including new sites opened during 2021 and 2022.
- Gross profit/loss increased by 80 percent to SEK 13.5 M (7.5). Gross margin increased to 41 percent (29).
- Operating profit/loss before value changes amounted to SEK 4.1 M (-2.6).
- Value changes in investment properties totalled SEK 142.4 M (80.2).
- Profit/loss for the period amounted to SEK 101.1 M (49.7).
- The Board of Directors elected Stefan Nilsson as new CEO. Stefan Nilsson started his position on June 30, 2022.
- At the end of May 2022 T-C Storage BidCo owned 100 percent of the shares.
JANUARY - JUNE 2022
- Net sales increased by 27 percent to SEK 63.1 M (49.6).
- Gross profit/loss increased to SEK 26.2 M (15.2) and gross margin increased to 42 percent (31), of which 43 percent (34) related to comparable facilities.
- Operating profit/loss before value changes amounted to SEK 6.4 M (-4.5).
- Value changes in investment properties totalled SEK 165.3 M (90.3).
- Profit/loss for the period amounted to SEK 106.1 M (44.0).
- The facility in Högsbo opened in March.
EVENTS AFTER THE END OF THE QUARTER
- On 1 July 2022, the employees in the 24Storage Group have been transferred to a related company, Nugreen Services AB, that will support the two self-storage companies 24Storage and Green Storage. Together, the facility companies 24Storage and Green Storage, will operate a total of 38 storage facilities and approximately 100.000 lettable square meters. The companies become one of the leading self-storage service companies in Sweden and aim for Nordic expansion.
- Together with transfer of employees from 24Storage Group, equipment, holiday pay debt and deposit also have been transferred at market value to Nugreen Services AB.