Storent Holding bond issue

About company

AS Storent Holding operates in the construction and industrial equipment rental sector across the Baltics, Finland, and Sweden, managing 30 depots. As a top 3 rental company in the Baltics, Storent holds a strong market position across all three countries, with an estimated 11% market share in the region.

A key driver of Storent’s growth in recent years has been its modern IT infrastructure, with a successful transition to a cloud-based ERP system across all five countries. This digital transformation has delivered significant cost-saving synergies, enhanced operational efficiency, and reinforced the company’s strong market position in the Baltics.

In 2024, Storent made its largest investment, allocating c. EUR 24m to fleet renewal and expansion.

The Issuer’s revenue is primarily driven by rental income, accounting for 79% of total revenues in 2024. %. The Group’s Rental income has grown steadily from EUR 32.7m in 2022 to EUR 37.0m in 2024, reflecting market expansion and effective business strategies.

During the 2024, the Group achieved revenue of EUR 47.0m with an EBITDA margin of 28%, which has been stable for the last 3 years. In addition, the Group has managed to increase its Equity ratio from 45% in 2022 to 47% in 2024, driven primarily by reinvested earnings.

The proceeds from the bond issue will support Storent’s growth strategy, including investments in the rental fleet, M&A transactions, and the refinancing of existing bonds.

Additional information: https://signetbank.com/wp-content/uploads/2025/04/Storent-teaser-ENG.pdf

Presentation

Term Sheet