Storent Holding increases revenue in the Baltics by 20% in the first two months of this year

AS Storent Holding (Storent), one of the largest equipment rental companies in the Baltics, increased its revenue in the Baltic countries by 20% in the first two months of this year, while in the Nordic markets (Finland and Sweden) – by 6%, compared to the same period last year. The growth was driven by both the expanding construction market in the Baltics and Storent's previous investments in IT systems and the modernization of its equipment fleet. In 2025, Storent plans for 10–15% growth, although it is expected that the growth rate will vary across markets.

Construction sector forecasts in the Baltics indicate that the industry will experience stable growth from 2025 to 2028. In Latvia and Estonia, the average annual growth rate is forecasted to be above 4%, driven by investments in infrastructure, residential and commercial buildings. Lithuania’s construction sector growth is estimated at 3.5% per year, mainly due to investments in energy, transport, housing development, and industrial construction. These growth rates point to stable demand for construction equipment rental, creating a favorable environment for further Storent growth in existing markets. In addition, Storent operates not only in construction, but also in road infrastructure, military, manufacturing, agriculture, renovation, and events.

“Storent's strategic goal is to strengthen its position in the Baltic market as well as to continue expansion in Sweden, Finland, and other regions. We are actively exploring development opportunities also in the U.S., considering that it is the world's largest equipment rental market. Thanks to targeted investments in equipment, IT, and innovation, Storent has done all the groundwork to ensure these investments yield returns both in existing and new export markets. At the moment, Baltic investors have the opportunity to become part of our growth story by investing in the company’s bonds with attractive yield,” emphasizes Andris Pavlovs, co-founder and Chairman of the Management Board of AS Storent Holding.

Bond offering open until April 17

On Thursday, April 17, the subscription period for Storent bonds ends, with a total volume of up to EUR 35 million across all Baltic countries, offering a fixed annual interest rate of 10% and a maturity of 3.5 years. The minimum subscription amount for the bonds is EUR 100. Investors in the Baltics still have four days to subscribe to the bonds.

The bonds are available to both retail and professional investors, and existing investors in the two previous bond issues are offered the opportunity to exchange their bonds, receiving an exchange premium. Bonds maturing at the end of 2025 are offered an additional exchange premium of 1%, while bonds maturing in 2026 – 0.5% of the nominal value of the exchanged bonds.

Storent plans to use the capital raised through the bond issuance for refinancing the company’s liabilities, financing its expansion plans – potentially including acquisitions in existing markets and the U.S. – as well as for new investments in the expansion of the equipment fleet.

“Baltic investors highly value Storent’s experience in the capital market, implementing both successful private and public bond offerings. Storent is a vivid example of how capital market financing can be a stable support mechanism for implementing a sustainable growth strategy. For investors, this means an opportunity to invest in a company with a proven track record, receive an attractive interest income, and become part of a growing and innovative business story,” says Kristiāna Janvare, the Managing Director of Investment Banking of Signet Bank AS.

It is planned that the new issue of bonds will be admitted to trading on the Baltic Bond list of Nasdaq Riga.

The lead arranger of the bond program is “Signet Bank” AS, with AS “LHV Pank”, AB “Šiaulių Bankas” un “Redgate Capital” AS acting as distribution partners. Legal advice is provided by “ZAB COBALT” SIA.

About Storent Holding 

Storent is a company with 100% Latvian capital and a leader in rental process digitalization and online sales. Storent has the largest market share in Latvia and strong positions in Estonia and Lithuania, successfully expanding in Finland and Sweden.

Currently, AS Storent Holding includes the following companies: SIA Storent (Latvia), UAB Storent (Lithuania), OÜ Storent (Estonia), Oy Storent Holding Finland (Finland), and AB Storent (Sweden). The company employs 250 people.
More information: www.storentholding.com

Disclaimer: This announcement is an unpaid marketing communication. Each investment decision should be based on the Base Prospectus approved by the Bank of Latvia, as well as the Final Terms (available at: https://www.storentholding.com/). The approval of the Base Prospectus by the Bank of Latvia should not be understood as an endorsement of the securities.