Established in 2011, Litrental specialises in bulk load transportation, road construction and repair services. The firm has long term working relationship with some of the largest companies in Lithuania like Kauno Tiltai, Eurovia and Lithuania’s leading grain producers. Litrental also worked on large scale infrastructure projects including Rail Baltica and some project abroad.
The company recently signed a new contract worth €1,65 million for road construction works in Lithuania. To prepare for this project, the company needs to acquire two dump trucks and increase working capital. Therefore, Litrental wants to borrow €75.000 from HeavyFinance investor community.
To increase safety for investors, right after the acquisition the company will pledge both dump trucks (MAN TGA 26.430 made in 2005 and MAN TGA 26.460 made in 2003). According to the independent evaluator, these two heavy-duty vehicles combined worth €59.300. Litrental will also pledge assets that the company already owns for no less than €48.700. Consequently, the loan to value ratio will be no higher than 70%.
In 2019 the company posted revenue of €1,7 million. In comparison, The profit (loss) statement of the III quarters of 2020, shows that Litrental already got revenue of €1,69 million. Besides, the company earned 22.000 Eur profit in 2019.
Currently, the equity ratio of Litrental is 36%.
To increase working capital and to acquire two dump trucks.