Storent Group's revenue increased by 13% and losses decreased by 27% in Q1 2022 compared to Q1 2021. In the rental market, the negative impact of Covid-19 restrictions is less evident, but rising prices for energy and construction materials pose new challenges. The sanctions imposed in connection with the war in Ukraine are also forcing the industry to look for new supply channels. The Group continues to develop a full-cycle, contactless online rental platform with digital authorization and electronically signed documents that provides a competitive advantage and allows you to rent equipment in a convenient, secure and fast way.

The main focus continues in 2022 to be online sales development digital transformation and efficiency increase. The Group will continue to transform its IT strategy to comply with the scalability needs. In early 2022, Storent entities in the Baltics joined online logistics platform Cargopoint that allows to organize transportation in a more efficient manner and will give opportunity to serve a wider range of customers with a more competitive price. In the spring of 2022, the Group plans to introduce a customer loyalty program “STORENT COINS”, which will help build long-term cooperation with customers.

Baiba Onkele

AS Storent Investments CFO

Mobile: + 371 29340012

E-mail: baiba.onkele@storent.com

www.storent.com