- The company demonstrates its profitability with an EBITDA of 58 million euros (+33%), despite the impact of inflation on costs. EBIT also grows by 46%, reaching 17 million euros (8% of sales).
- In the 2022 financial year, net profit triples to reach 8 million euros.
- The recurring or long-term business is the one that shows the most positive increase in the past year, although rental still has the main weight in the business.
- In terms of sustainability, 80% of GAM's fleet is zero-emission and 95% of the company's energy consumption comes from green energy sources.
During the financial year, GAM has once again shown notable control of general expenses and a trend of improvement in profitability, with an EBITDA of 58 million euros (+32%), despite the impact of inflation on costs. EBIT also grew by 46%, reaching 17 million euros (8% of sales).
This represents a significant improvement in results, with net profit tripling to reach 8 million euros.
All business lines show positive growth data. The recurring or long-term business is the one with the most positive increase: it grew by 50% and now represents revenue of 48.7 million euros in 2022, with a weight in the total business of 22%.
By growth volume in the 2022 financial year, with a +33%, the next area is the non-CAPEX business (those that do not require additional structure and capital, such as distribution, buying and selling, maintenance, training…), with 83.8 million euros in revenue and a 37% weight in the total business.
Finally, the short-term rental business line shows the smallest growth, at 24%, but still represents the main source of revenue, which in 2022 was 90.8 million euros and is 41% of the company's global weight.
In addition to uniform growth in the areas, this is also the trend in all the markets in which the company operates. Morocco is the market with the highest business increase in 2022 compared to the previous year, with a 74% increase and 4.4 million euros in revenue.
By growth level, it is followed by Portugal, with 33% and 17.6 million euros. The business penetration of the Spanish market grows by 32% this year, with revenue of 169.6 million euros, the highest of all the markets in which the company operates. For its part, Latam grows by 30%, with revenue reaching 31.7 million euros. Thus, in these four markets GAM accumulates 223.2 million euros. This consolidation outside the national border demonstrates the success of GAM's diversification model in the international arena.
Organic growth and improvement of debt structureThe company's growth is mainly organic, with a 23% increase; while acquisitions made in Spain contribute 10% of inorganic growth in the 2022 financial year. Organic EBITDA also represents the main margin, at 20%, with acquisitions accounting for the remaining 12%.
In the 2022 period, GAM also reduces the debt ratio to 3.4 times the EBITDA generated by the company, compared to 3.7 in 2021.
Greater commitment to sustainabilityGAM's sustainability model is embodied through a transformation project called Embracing Sustainability, which encompasses all the company's sustainable initiatives. This project is divided into four main blocks to ensure that positive objectives and impacts are applied across the business model.
These four pillars of GAM's Sustainability Plan cover from the environmental side to the circular economy, business transformation, or the social sphere. Thus, 80% of the fleet is zero-emission and 95% of the company's energy consumption comes from green energy sources.
In this line, GAM also has a sustainable mobility company in the last mile, Inquieto. In addition to a machinery remanufacturing plant based on the principle of circular economy. And, in the social sphere, it supports training in the sector through its Kirleo School of Trades.
