# Cityvarasto Oyj > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/cityvarasto). ## Overview Cityvarasto is a Finnish public company based in Helsinki that operates self-storage facilities and related property assets across Finland. Through its subsidiaries, it also provides van rental, moving services, packing supplies, shipping and receiving services, and office room rentals in business center properties. ## Products & services • Small storage unit rentals • Self-storage property ownership and management • Van rental through PakuOvelle.com • Moving services through Suomen Opiskelijamuutot • Packing supplies and shipping/receiving services • Business center office room rentals - **Self-storage rentals** (71%) — Rental of small storage units and related storage space across Finland. - **Property and facility management** (18%) — Ownership, management, and development of storage-suitable real estate assets. - **Ancillary moving and transport services** (7%) — Van rental and moving services that support storage customers. - **Retail and service add-ons** (4%) — Packing supplies plus shipping and receiving services sold to storage users. - Small storage unit rentals - Self-storage property ownership and management - Van rental through PakuOvelle.com - Moving services through Suomen Opiskelijamuutot - Packing supplies and shipping/receiving services - Business center office room rentals ## Customers Cityvarasto serves consumers and businesses that need flexible short- or long-term storage space, especially in Finland’s largest urban centers. Its customer base also includes people relocating, small firms needing overflow space, and users who want bundled storage-related services such as van rental or moving support. - **Consumer self-storage users** (primary) — Households and individuals renting storage units for personal belongings, seasonal items, or life transitions. - **Small business customers** (primary) — Companies renting storage for inventory, tools, documents, or overflow stock. - **Moving customers** (secondary) — Customers using van rental and moving services alongside storage during relocations. - **Ancillary service buyers** (secondary) — Storage customers purchasing packing supplies and shipping/receiving services. - Households needing temporary or long-term storage space - Urban customers with limited home or apartment storage - Small businesses needing overflow or archive storage - People moving homes who need van rental and moving help - Customers buying packing supplies and handling services ## Geography Cityvarasto operates nationwide in Finland, with a network of locations concentrated in major urban centers where storage demand is strongest. The business is anchored in Finnish real estate and local customer access, so site location and catchment area are central to utilization and service convenience. - **Finland** (100%) — Company states it offers storage solutions across Finland. - Nationwide footprint across Finland - Strongest presence in major city centers - Helsinki is the company headquarters - Local site access is important for customer convenience - Operations depend on Finnish real estate markets ## Strategy Cityvarasto’s strategy is to strengthen its position in Finnish self-storage by expanding and efficiently using its property portfolio. It also uses adjacent services such as van rental and moving support to increase customer convenience and deepen the relationship around each storage customer. - **Grow the storage property portfolio** (medium-term) — More locations and units increase market reach and support long-term capacity growth. - **Bundle adjacent services** (short-term) — Van rental, moving, and packing services make the offering more useful and increase customer stickiness. - **Improve utilization of existing sites** (medium-term) — Efficient use of property assets is central to returns in a real-estate-backed storage model. - Expand and optimize the self-storage property portfolio - Use adjacent services to increase customer lifetime value - Focus on major urban markets where storage demand is dense - Leverage digital and scalable operating models - Build a recognized Finnish self-storage brand ## Risks The business depends on occupancy, local demand, and the performance of storage-suitable real estate, so weak utilization or adverse property-market conditions can affect results. It also faces execution risk from property development, competition in urban storage markets, and operational risks tied to moving, van rental, and customer service activities. - **Occupancy and utilization risk** [high] — Revenue depends on filling storage units and maintaining customer turnover at profitable levels. - **Fair value volatility in investment properties** [high] — The company measures investment properties at fair value, so market shifts can move reported asset values and earnings. - **Competition in local storage markets** [medium] — Storage demand is location-specific and customers can switch to nearby alternatives if price or convenience changes. - **Operational execution in ancillary services** [medium] — Van rental and moving services add service complexity, vehicle utilization needs, and customer service exposure. - Occupancy and utilization risk in self-storage sites - Property valuation risk from fair-value real estate accounting - Competition in urban storage markets - Operational risk in van rental and moving services - Dependence on Finnish demand and local site access ## Accounting A major accounting issue is the fair value measurement of investment properties, which can materially affect reported assets and earnings because the portfolio is revalued using external appraisals. The group also uses IFRS 11 for certain jointly owned property companies and IFRS 16 for lease-related balances, while the mix of property income and service revenue makes segment presentation important for analysis. - **Investment property fair value measurement** — Reported earnings, NAV, and balance sheet size - **IFRS 11 joint arrangements** — Balance sheet presentation and leverage metrics - **IFRS 16 lease accounting** — Leverage and EBITDA comparability - **Segment reporting between property and ancillary services** — Revenue mix and profitability analysis - Fair value changes on investment properties affect earnings and NAV - External appraisals drive property valuation judgments - IFRS 11 applies to some jointly owned property entities - IFRS 16 affects lease assets and lease liabilities - Mixed property and service revenue affects segment analysis --- *Last updated: 2026-08-11T04:04:51.616462+00:00*