Storent’s 2025 Vision: More Equipment, More Locations, More Innovations

  • 2025-02-03

Storent’s €24 million investments in the fleet have hit the market, already boosting total revenue by 12% in the fourth quarter. The company has announced plans for further development, revealing new opportunities for investors in 2025.

In the fourth quarter, the Group showed a stable increase of total revenue by a two-digit number, reaching 12,7 million euros. EBITDA increased by 7% reaching 3.9 million euros. In 2024, total revenue reached nearly 47 million euro, representing a 7% increase, compared to the previous year. EBITDA reached 13 million euro, and EBT amounted to 788 thousand euro. The company's operational profitability is strong and it is expected that the investments will continue to produce strong underlying performance, that is crucial for long-term growth. 

In 2024, Storent took a bold step forward, investing nearly €24 million to expand and upgrade its fleet—now with 32% of equipment under two years old. As industries move toward smarter, more cost-effective solutions, renting is becoming the clear choice over owning. Storent is leading the way by offering the latest, top-quality equipment, attracting more customers across all markets. Expanding its reach, the company celebrated its 30th location in early 2025 with a new depot in Kaunas, Lithuania, and depot in Gulbene, Latvia, is next. With strong returns fueling growth, Storent is gearing up for another investment worth up to €20 million before peak season.

Storent DNA is built on high achievement and innovation. By introducing advanced digital tools, the company enhances efficiency, allowing the team to focus on what truly matters—customers and business growth. The company is making substantial investments in training, ensuring the team delivers exceptional service and sets the industry standard. But tools and knowledge are not yet enough to drive successful business. Storent recognizes hard work and individual achievement by introducing performance-based remuneration system, ensuring top performers reach the highest earnings in the industry. 

To facilitate continued growth, the Group intends to raise an additional €30 million through bonds across Baltic countries, to be issued in two tranches. Around fifty percent of the funds will go toward expanding the fleet, while the remaining amount will be used to refinance current bonds. The first bond offering is planned for mid-March 2025.

About Storent: 

Storent was established in 2008 with the goal of developing an efficient construction equipment rental company. It is the largest construction equipment company in Latvia and has one of the largest market shares in Estonia and Lithuania, with an additional market presence in Finland and Sweden. Storent currently operates a total of 30 rental depots.