The company maintains strong growth across all business lines and improves its margins.
The Spanish multinational closes the first nine months of the year with high growth accompanied by improved profitability. During the first nine months of the year, the revenue increased by 35% to 166 million euros. The EBITDA margin reaches 43.5 million euros (26% of sales) and grows by 45% compared to 2021. Similarly, the company achieves a net profit of 4.9 million compared to 0.1 million in the same period last year.
Despite an environment marked by inflation, which negatively impacts cost increases, the high growth is accompanied by an improvement in margins, with EBITDA reaching 43.3 million – which represents 26% of sales – and improving by two percentage points. The net profit for the period (4.9 million) represents 3% of sales.
All business lines are growing at high rates. For instance, short-term rental business is growing by 31%; long-term rental is up by 52% and now accounts for 21% of total revenue, while non-CAPEX businesses (those not requiring additional structure and capital, such as distribution, buying and selling, maintenance, training, etc.) have increased by 32%, particularly in distribution, where the company is now the exclusive distributor for Hyster-Yale in Spain, Portugal, and Morocco.
GAM is implementing a significant Sustainability Plan, which covers, on one hand, the environmental aspect, through the increase in the electrification of its rental fleet (currently 77% of which is zero emissions), developing its sustainable mobility company in last-mile logistics, Inquieto, as well as a circular economy project consisting of a machinery remanufacturing plant. On the other hand, in the social aspect, by enhancing its training business through its Kirleo School of Trades.
