GAM’S sales increased by 37% and its EBITDA margin by 67% in the first quarter of 2022

The Company keeps its double-digit growth in all the businesses areas

During the said period, the turnover increased by 37%, reaching the amount of 49.9 million euros, a growth that is accompanied by a material advance in margins. In this way, the EBITDA margin is 4.3 points better. It stands for 24% of sales and reaches the amount of 12 million euros with an increase of 67% compared to the previous year. In turn, the net profit is practically in balance compared to the 2 million euros of losses of the same period in the previous year.

A high-inflation environment must be added to the difficulties already existing in 2021, related to supply chains and delays in delivery deadlines by the machinery manufacturers. Notwithstanding, the Company manages to grow in all the business lines, which it does by having better margins.

The traditional business of rentals is the one where the COVID-19 impact was more important. It grows by 37%, while the long-term recurring services increase by 58%, accounting for 22% of the turnover, and the non-CAPEX businesses (those requiring additional investment, such as distribution, maintenance, training, or sale-purchase) grow by 27%.

During the first quarter, and keeping the inorganic growth strategy under the Strategic Plan, two acquisitions (Grupo Dynamo Hispaman in January and Intercarretillas in March) took place, reinforcing GAM’s position in recurring businesses and consolidating the distribution of Hyster-Yale in Iberia.

The Company continues to progress with its Sustainability Plan with the development of sustainable mobility projects through its subsidiary Inquieto, a company providing solutions for the last mile logistics; by increasing the electrification of the machinery park, where 75% of the units under rental are zero-emission equipment, by boosting the development of its Circular Economy Centre focussed on the remanufacturing of machinery and through other digitalization projects.