The company continues to grow at double digits across all its businesses
During this period, revenue increased by 37% to €49.9 million, a growth that is accompanied by a substantial improvement in margins. Thus, the EBITDA margin improved by 4.3 percentage points, representing 24% of sales and reached €12 million with a 67% increase over the previous year, while the net result is nearly balanced compared to the €2 million loss in the same period of the previous year.
In addition to the existing problems in 2021, related to supply chain issues and delays in delivery times by machinery manufacturers, there is a high inflation environment. Despite this, the company is managing to grow in all its business lines while improving margins.
The traditional rental business, which was most affected by the COVID-19 crisis, increased by 37%, while long-term recurring services grew by 58% -representing 22% of the total revenue-, and businesses without Capex (those requiring additional investment, such as distribution, maintenance, training, or trading) increased by 27%.
During the first quarter, and following the inorganic growth strategy outlined in the Strategic Plan, two acquisitions were made (Grupo Dynamo Hispaman in January, and Intercarretillas in March), which strengthen GAM's position in recurring businesses and consolidate the distribution of Hyster-Yale in Iberia.
The company continues to advance its Sustainability Plan through the development of sustainable mobility projects via its subsidiary Inquieto, which provides solutions for last-mile logistics; increasing the electrification of the machinery fleet, with 75% of rental units now being zero-emission equipment; driving the development of its Circular Economy Center focused on machinery remanufacturing, as well as through other digitalization projects.
