Annual Report and Accounts 2024
Well Positioned for Success
Big Yellow the UK’s brand leader
in self storage.
We are committed to innovation in customer engagement, harnessing technology and investing in the development of our store teams. This dedication puts exceptional customer service at the heart of what we do, whilst ensuring we continue to operate a sustainable business.
Chairman's Statement
Big Yellow Group PLC (“Big Yellow”, “the Group” or “the Company”), the UK’s brand leader in self storage, is pleased to announce its results for the year ended 31 March 2024.
The transition to higher interest rates has had the impact intended by policymakers of subduing activity and Big Yellow has not been immune, although it has again proved itself to be resilient with a healthy revenue increase and EBITDA growth of 7%. The driver of this performance has been an increase in net rents, partially offset by a decline in occupancy. As usual we caution that we have limited visibility beyond a few weeks, but the period since the year end has seen an encouraging pick-up in occupancy growth, closing the gap with the prior year like-for-like occupancy to 0.7 ppts, and we expect occupancy to continue to grow into our seasonally stronger summer trading period. Continue reading…
Strategic Report
Our strategy from the outset has been to develop Big Yellow into the market-leading self storage brand, delivering excellent customer service, investing in sustainability and our market-leading operating platform and digital channels, with a great culture and highly motivated employees.
Governance
The Company is committed to the principles of corporate governance contained in the UK Corporate Governance Code issued by the Financial Reporting Council in 2018.