GAM continues recovery in first quarter

By Murray Pollok17 May 2022

Spain’s GAM has continued its recovery in the first quarter of 2022 with sales up 37% to €49.9 million. The result follows growth of 26% in sales for 2021.

EBITDA profits were up 67% to €12 million, with net losses of €0.2 million in the period compared to losses of €2 million in the first quarter of 2021.

GAM’s first quarter revenues in 2022 were up 37%.

GAM said its revenues related to distribution, maintenance and training rose by 27% to €18.8 million, while its core rental operations saw an increase of 38% to €20.2 million.

The company is acting on sustainability, in part through the actions of its subsidiary Inquieto - created in early 2021 - which is providing electric-powered equipment for ‘last mile’ logistics.

It is also increasing the electrification of its fleet, with 75% of its equipment on rent now electric.

GAM added that high inflation was a now a problem in addition to the supply chain issues already being experienced in 2021.

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
AIF seeks to save UK’s Work at Height Regulations
Law could be scrapped under UK government bill 
Manitou introduces hydrogen telehandler
Based on a 14m unit, the prototype is part of Manitou’s wide-ranging green energy plan 
How telematics is changing equipment rental
Lucy Barnard reveals how rental firms are using telematic for their fleets
CONNECT WITH THE TEAM
Ollie Hodges Brand Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
Belinda Smart
Belinda Smart Editor Tel: 44 (0)1892 786209 E-mail: belinda.smart@khl.com
CONNECT WITH SOCIAL MEDIA