Abacus Storage King Reports Strong HY25 Results

Abacus Storage King (ASX: ASK) delivered a strong HY25 performance, reporting a statutory net profit of AU$ 67.8 million, a significant increase from HY24. FFO rose 15.1% to AU$ 43.3 million, while distribution grew 3.3% to AU$ 3.1 cents per security, reflecting a 94% payout ratio. The company’s NTA increased to AU$1.60 per security, with total assets reaching AU$3.3 billion. Established portfolio metrics showed revPAM growth of 5.4% to AU$339psm, rental rate growth of 4.4% to AU$373psm, and occupancy rising to 91%.

ASK invested AU$60 million in acquisitions and developments, with 19 projects (112,000 sqm NLA) and six expansions (18,000 sqm NLA) in the pipeline. Storage King remained the most Google-searched self-storage brand in Australia. ASK reduced GHG emissions by 7.5%, installed solar at two more sites, and continued progress toward net zero by 2030. With AU$600 million in funding capacity, ASK reaffirmed its FY25 distribution guidance of AU$6.2 cents per security, targeting a 90%- 100% FFO payout.

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