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BIG YELLOW SELF STORAGE Results for the Six Months ended 30 September 2021 Released : 22.11.2021 RNS Number : 1672T Big Yellow Group PLC 22 November 2021 Big Yellow Group PLC ( " Big Yellow " , " the Group " or " the Company " ) Results for the Six Months ended 30 September 2021 Strong first half results driven by a combination of occupancy and rate growth 22 November 2021 Financial metrics Six months ended 30 September 2021 Six months ended 30 September 2020 Change Revenue £ 81.8 million £ 65.8 million 24 % Store revenue ( 1 ) £ 80.8 million £ 64.4 million 25 % Like - for - like store revenue ( 1,2 ) £ 73.7 million £ 64.3 million 15 % Store EBITDA ( 1 ) £ 57.7 million £ 44.5 million 30 % Adjusted profit before tax ( 1 ) £ 46.9 million £ 36.5 million 28 % EPRA earnings per share ( 1 ) 25.7 pence 20.9 pence 23 % Interim dividend per share 20.6 pence 17.0 pence 21 % Statutory metrics Profit before tax £ 254.9 million £ 59.9 million 326 % Cash flow from operating activities ( after net finance costs ) £ 51.8 million £ 42.3 million 22 % Basic earnings per share 142.0 pence 34.4 pence 313 % Store metrics - Big Yellow stores Store Maximum Lettable Area ( " MLA " ) ' ( 1 ) 4,984,000 4,822,000 3 % Closing occupancy ( sq ft ) ( 1 ) 4,472,000 4,106,000 9 % Occupancy growth in the period ( sq ft ) ( 1 ) Closing occupancy ( 1 ) Occupancy - like - for - like stores 271,000 325,000 ( 54,000 sq ft ) 89.7 % 85.2 % 4.5 ppts 91.3 % 87.3 % 4.0 ppts £ 29.52 £ 28.01 5.4 % £ 30.43 £ 27.75 9.7 % ( 1,2 ) Average achieved net rent per sq ft ( 1 ) Closing net rent per sq ft ( 1 ) Store metrics - Armadillo stores Store Maximum Lettable Area ( " MLA " ) ( ¹ ) 1,078,000 1,081,000 Closing occupancy ( sq ft ) ( 1 ) 955,000 868,000 Occupancy growth in the period ( sq ft ) ( 1 ) 47,000 69,000 10 % ( 22,000 sq ft ) Closing occupancy ( 1 ) 88.6 % 80.3 % 8.3 ppts Average achieved net rent per sq ft ( 1 ) £ 19.14 £ 17.71 8.1 % Closing net rent per sq ft ( 1 ) £ 19.85 £ 17.50 13.4 % 1 See note 19 for glossary of terms 2 The like - for - like metrics exclude stores opened in the current and preceding financial years , and the Armadillo stores First Half Highlights ● Like - for - like occupancy increase of 3.9 ppts from 1 April 2021 and up 4.0 ppts from same time last year to 91.3 % ( September 2020 : 87.3 % ) • Big Yellow stores average achieved net rent per sq ft increased by 5.4 % period on period , closing net rent up by 9.7 % from September 2020 • Revenue growth for the period was 24 % , with like - for - like store revenue up by 15 % , driven by gains in occupancy and the improvement in average rate • Cash flow from operating activities ( after net finance costs ) increased by 22 % to £ 51.8 million