In the first six months of 2026, Storent Group’s total revenue increased by 11% to €31.1 million, while rental revenue rose by 11% to €25.5 million. Rental revenue from the company’s own fleet increased by 15% to €22.1 million. EBITDA reached €10 million, broadly in line with the previous year, while the EBITDA margin was 32%, compared with 36% a year earlier.
Growth in Europe and the United States
Revenue in the European region increased by 9% to €24 million in the first half of the year, while EBITDA grew by 8% to €7.1 million. In the Baltics, demand continued to be supported by defense, energy, residential construction, and infrastructure projects. In the Nordics, positive momentum was recorded in the second quarter following a slower first quarter, and the Group continues to focus on efficiency and profitability.
In the United States, first-half revenue increased by 23% to $8.3 million, while rental revenue also grew by 23% to $7.4 million. Storent continues to develop its U.S. business by combining selective investments in regional rental companies with the development of a digital partner network.
During the first half of the year, Storent invested €10.2 million in its European rental fleet, $8.4 million in its U.S. rental fleet, and $2 million in the development of its digital ecosystem. In the second quarter, Storent completed the implementation of its unified enterprise resource planning (ERP) system in the United States, and the Group now operates on a single digital platform across all six countries.
New Bond Issue Planned
In the third quarter of 2026, Storent plans to launch a new bond issue of up to €10 million in the Baltic capital markets, subject to market conditions. The proceeds are expected to be used to refinance existing liabilities and support the company’s future development plans.
Further Development of the Group
Storent enters the second half of the year with an expanded asset base, a strengthened management team in the Nordics, and a unified digital operating platform implemented in the United States. In the Baltics, the Group expects further market growth, while in the Nordics it will continue to pursue its specialized niche strategy, focusing on cost discipline, sales management, and the development of its customer project pipeline.
In the United States, Storent will continue to pursue its two-network growth strategy, combining the Equity Partner Network (EPN) – selective controlling stakes in high-quality regional rental companies – with the Digital Partner Network (DPN), which will enable independent rental companies to join the Storent ecosystem and operate on a shared digital and operational platform. The objective is to build a capital-efficient, nationwide rental platform by combining selective acquisitions with the rapid expansion of the digital partner network. To support the next stage of growth, Storent also plans to attract a new minority equity investor at the U.S. company level.
*All figures for 2026 are presented as Alternative Performance Measures (non-IFRS), reflecting adjustments for IAS 16 revaluation effects and one-off corrections. Comparative figures for 2025 are presented on a pro forma basis (non-IFRS), including Connect Rentals as if owned from the start of the comparable period and excluding IAS 16 revaluation effects, to provide a clearer view of underlying operational performance.
About Storent
Storent, founded in 2008 with the goal of becoming the most innovative equipment rental company in the world, is driven by a team of experts who set new industry standards through technology, exemplary service, and sustainable solutions. The company, fully owned by Latvian shareholders, is a recognized leader in the digitalization of equipment rental processes and online sales. It holds the largest market share in Latvia, with strong positions in Estonia and Lithuania. Storent is operating in Finland and Sweden and successfully developing operations also in the United States.
For two consecutive years, Storent has been recognized as the most valuable equipment rental company in Latvia, being included in the TOP101 ranking compiled by Nasdaq Riga and Prudentia. In the 2024 assessment, the company climbed 21 positions – from 88th to 67th place. This reflects the impact of its digital innovation, growing trust among customers and investors, and the increasing strength of the brand.
The company operates 34 rental depots: 15 in Latvia, 9 in Lithuania, 4 in Estonia, 3 in Finland, 1 in Sweden, and 2 in the United States. The Storent Group employs 304 people.
For more information:
Baiba Onkele
Member of the Management Board and Chief Financial Officer
AS Storent Europe
baiba.onkele@storent.com
www.storentholding.com