Loxam returns to pre-Covid levels in France

By Murray Pollok10 June 2021

Loxam’s French business recovered well in the first quarter of 2021, with a 13.1% increase in sales year-on-year, although the company reported falls in the 7 to 8% range for its businesses in Scandinavia, the UK and the Middle East.

Total sales in the quarter were €496.9 million, an increase of 0.6%. EBITDA profits were up 11.1% to €166.7 million, improving by 30% in France.

No caption available

The Paris-based company said its revenues in Sweden, Norway, Finland and Denmark - the territory largely comprising the Ramirent business acquired in mid-2019 - fell by 8.2% in the first quarter because the same period in 2020 experienced fewer pandemic restrictions and mild weather.

Sales in the rest of the world were down 7% to €132.7 million, with falls in the UK and the Middle East where pandemic restrictions were still in place.

Sales in France were up 13.1% to €220.6 million, reflecting a business recovery in March 2021. The Italian market also rebounded.

Gérard Déprez, Chairman and CEO of LOXAM, said; “This quarter was marked by our recovery in France, where our revenue has returned to its pre-crisis levels. Outside France, the rebound was delayed in most countries, due to remaining restrictions related to the health context. In Scandinavia, business activities were also impacted by a colder and longer winter.”

Déprez added; “Going forward, we expect the construction sector to rebound and we intend to take advantage of this recovery to continue our growth.

“We were also very pleased with the S&P Global’s rating upgrade to B+ with a positive outlook, reflecting our resilience during 2020 and our growth prospects.”

Click here to subscribe to the International Rental News weekly newsletter

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Used equipment pricing up 45% in North America
Despite used access equipment and telehandler sales down year-over-year, pricing remains strong in North America
PCA forecasts strong year for construction
The Portland Cement Association said the IIJA bill will provide up to $1.2 trillion for infrastructure projects over the coming years
Bravi breaks sales records
Bravi has reported record-breaking sales for 2021, including a 196% increase year-over-year in Leonardo HD units
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA