Term Adjusted current tax
Definition Current tax adjusted for non-recurring tax items such as tax charges and credits arising from material one-off events like changes in tax legislation, settlements with tax authorities and the tax effect of other non-recurring operating items.
Term Adjusted EPRA earnings
Definition EPRA earnings adjusted for (i) deferred tax expenses on items other than the revaluation of investment property and (ii) special items (“one-offs”) that are significant and arise from events or transactions distinct from regular operating activities, net of tax.
Term Adjusted EPRA earnings effective tax rate
Definition Current tax expenses divided by adjusted EPRA earnings before tax.
Term Adjusted EPRA earnings per share in euros (basic)
Definition Adjusted EPRA earnings divided by the weighted average number of outstanding shares.
Term Adjusted EPRA effective tax rate
Definition Adjusted EPRA earnings before tax divided by the adjusted current tax expense.
Term Ancillary revenue
Definition Merchandise sales and other revenue from real estate operations.
Term Annual rental revenue (ARR)
Definition Annualized rental income based on current rents.
Term Average in-place rent (in €/sqm/year)
Definition Rental revenue divided by the average rented sqm for the reporting period.
Term Average occupancy rate
Definition Average rented sqm divided by the average rentable sqm during the reporting period.
Term Average rentable sqm
Definition Total sqm rented by customers during the reporting period.
Term Average rented sqm
Definition Average rented sqm divided by the average rentable sqm during the reporting period.
Term Average revPAM (in €/sqm)
Definition Property operating revenue divided by the average rentable sqm for the reporting period.
Term CAPEX
Definition Capital expenditures.
Term CER
Definition At constant exchange rates, i.e. recalculated using the actual exchange rates (AER) for the prior period.
Term Closing occupancy rate
Definition Total sqm rented by customers at our stores, as of the reporting date.
Term Closing rentable sqm
Definition Total available sqm for customer storage use at our stores, as of the reporting date.
Term Closing rented sqm
Definition Total sqm rented by customers, for the reporting period.
Term Cost of debt
Definition Total expenses related to the financial debt divided by the financial debt.
Term CPA
Definition Conditional purchase agreement.
Term Current annual rental revenue (ARR)
Definition Annualised actual rent receivable per square meter, based on contractual rents in place at the reporting date.
Term EBITDA
Definition Operating earnings before interest, tax, depreciation and amortization, excluding (i) valuation gains from investment property (under construction) and (ii) losses or gains on disposal if investment property, plant and equipment and assets held for sale.
Term EPRA
Definition European Public Real Estate Association.
Term EPRA earnings
Definition Net profit adjusted for (i) fair value gains or losses on investment property (net of deferred tax), (ii) gains or losses on disposals of property, (iii) development profits from sales, (iv) changes in value of financial instruments, (v) other one-off or non-recurring costs or income, in order to reflect the "recurring" operational earnings from property rental activities, as defined by EPRA.
Term ESG
Definition Environmental, social and governance.
Term Financial debt
Definition Total of the carrying value of the interest-bearing loans and borrowings (both long-term and short-term), excluding the unamortized portion of debt financing costs, and lease obligations.
Term FY
Definition Full year.
Term Income from property (NOI)
Definition Property operating revenue less real estate operating expense for the reporting period.
Term In-place rent
Definition Rental income per occupied square meter.
Term Interest coverage ratio (ICR)
Definition Underlying EBITDA divided by net finance costs, excluding foreign exchange result for the reporting period.
Term IPUC
Definition Investment property under construction.
Term Like-for-like (LFL)
Definition All stores that have been open and trading continuously for at least one year and through both the current and comparative period.
Term Loan-to-value (LTV)
Definition Net debt divided by the fair value of the group’s investment property and investment property under construction.
Term Long leasehold
Definition Long term leases with at least 80 years remaining duration at reporting date.
Term LTV ratio or LTV-TA
Definition Net debt divided by total assets.
Term Net debt
Definition Financial debt less cash and cash equivalents.
Term Net debt to underlying EBITDA ratio
Definition Net debt (including leases) divided by trailing 12 months underlying EBITDA.
Term NOI margin
Definition Income from property (NOI) divided by property operating revenue for the reporting period.
Term NOI yield on cost of maturity
Definition NOI at maturity divided by total direct project cost/acquisition cost.
Term Non-same stores
Definition All self-storage facilities operated by the Group excluding the same stores.
Term Occupancy rate
Definition Rented area divided by the rentable area.
Term Property operating revenue
Definition Comprises rental revenue, fee income from customer goods coverage and ancillary revenue.
Term REIT
Definition Real Estate Investment Trust.
Term RCF
Definition Revolving credit facility.
Term RevPAM
Definition Revenue per available square meter, calculated as the annualized rental revenue divided by the average rentable area in sqm over the same period.
Term Same stores
Definition Consist of (i) all developed stores that have been in operation for at last three full years, (ii) all acquired stores that we have owned for at least one full year and (iii) existing stores with minor redevelopments, each measured as of January 1 of the relevant year.
Term ROU
Definition Right of use assets.
Term Trailing twelve months (TTM)
Definition The twelve months period before reporting date.
Term Underlying EBITDA
Definition EBITDA excluding (i) valuation gain (loss) from investment property and investment property under construction and gain (loss) on disposal, (ii) acquisition and dead deals costs (iii) cease-use lease expense and (iv) other items that management considers as not being representative of the Group’s operating performance of the period.
