Business growth is accompanied by improved profitability, with an EBITDA of 15.2 million euros (+26%), despite the impact of inflation on costs.
Net profit reaches 0.9 million euros compared to -0.2 million in the same period last year.
In terms of sustainability, 80% of GAM's fleet is zero emissions, and 95% of the company's energy consumption comes from green energy sources.
GAM presents the results of its business performance in the first quarter of 2023. During this period, the multinational achieved a turnover of 59.9 million euros, representing a 20% growth compared to 2022, which had 49.9 million euros in revenue.
This growth is accompanied by an improvement in profitability, with EBITDA reaching 15.2 million euros (+26%), despite the impact of inflation on costs. EBIT also increased by +86% to 4.2 million euros (7% of sales).
Similarly, net profit reached 0.9 million compared to the losses of the first quarter of 2022.
All business lines show positive growth data. Recurring or long-term business shows the most positive increase: it rises by 36% and already accounts for 14.8 million euros in revenue in 2023, representing 25% of total business.
The non-CAPEX business area (those that do not require additional structure and capital, such as distribution, trading, maintenance, training…) grows by +15%, generating 21.6 million euros in revenue and representing 36% of total business. Finally, the rental and services business line grows by +16%, reaching 23.4 million and representing 39% of total revenue.
It is also worth noting in this first quarter the inorganic growth of the GAM group through the integration of Carretillas Mayor, a Valladolid-based company with over 30 years of experience specializing in rental and maintenance services for all types of handling, lifting, crane bridges, and AGV equipment, with a fleet of 3,000 units; which represents a growth in business and consolidation in Iberia for both entities.
The company continues to advance in its sustainability plan
GAM's sustainability model is materialized through a transformation project called Embracing Sustainability, which encompasses all of the company's sustainable initiatives. This project is divided into four main blocks to ensure that positive goals and impacts are applied across the business model.
These four pillars of GAM's Sustainability Plan cover areas from environmental aspects to the circular economy, business transformation, and social responsibility. Thus, 80% of the fleet is zero emissions, and 95% of the company's energy consumption comes from green energy sources.
In this regard, GAM also includes within the company a last-mile sustainable mobility company, Inquieto. Additionally, it has a machinery remanufacturing plant based on the principle of a circular economy. And in the social sphere, it supports sector training through its Kirleo Vocational School.
