Storent Holding AS, one of the leading equipment rental companies in the Baltics, increased revenue by 11% to €22 million in the first half of 2025, almost double the 6% growth of the Baltic equipment rental market in the same period, according to Forecon, a leading construction market analysis and forecasting company. EBITDA rose by 30% to €5.8 million.
Storent’s growth story is powered by continuous investment and digital innovation. Nearly €10 million was invested in fleet during the first half, with 40% of the fleet now under two years old. At the same time, Storent’s digital platform is rapidly advancing beyond its launch earlier this year, with a growing share of orders placed online, faster turnaround for customers, and the Quick Offer tool simplifying rentals to just a few clicks. By automating routine processes, the platform allows sales teams to focus on more complicated projects and added-value support.
“Digitalization is not only about technology — it is about freeing people to do what creates value. By making the rental process faster and more transparent, our platform allows the team to focus fully on our customers. This is why we can grow faster than the market, even under challenging conditions. We are building a business that is both more efficient and more resilient. The results we deliver give us the confidence to take the next step,” says Andris Pavlovs, Co-owner, CEO and Chair of the Board, Storent Holding AS.
Storent’s revenue from own equipment grew by 19%, demonstrating both strong demand and effective utilization of its younger fleet. According to Forecon, a leading construction market analysis and forecasting company, the Baltic equipment rental market expanded by 6% in the first half of 2025, meaning Storent grew nearly twice as fast as the industry average. Storent Group posted a negative EBT due to major fleet investments, which increased depreciation and interest costs but strengthen future profitability. As the third quarter is the key profit period, results are expected to improve in the months ahead. In July, the Group reached a historic milestone by generating €5 million in total income and €4 million in rental income in a single month – the highest result in its history.
Looking ahead, strategic investments in fleet, depots, and digital platforms are expected to drive higher utilization, rental volumes, and profitability in the third quarter. With due diligence concluded for a targeted acquisition in Texas, the Group is preparing for its first entry into the United States, marking a significant milestone for a 100% Latvian-owned company.
Storent will present full H1 results and future plans in an investor webinar on September 11 at 15:00 EEST. Registration: https://nasdaq.zoom.us/webinar/register/4217543791418/WN_lyhMtO3WQN2mCvIUSmzajA
Baiba Onkele
Member of the Management Board and CFO of Storent Holding
E-mail: baiba.onkele@storent.com
Mobile: + 371 29340012