GAM results show impact of Reviver project

Photo: GAM

Spanish rental company GAM has reported its Q1 results for 2025, highlighting the ongoing role of its Reviver circular economy project in reducing capital expenditure.

Launched in 2024, the Reviver initiative contributed to a 17% decrease in CAPEX for Q1 2025, which fell to €13.9 million from €16.8 million in the same period last year.

Revenues increased by 9% year-on-year to €73.5 million, supported by growth across the company’s diversified business segments.

The renting and outsourcing division, now accounting for 29% of total revenues, grew by 11%, while rental and services rose by 15%. The distribution and aftersales segment experienced a 2% increase.

EBITDA reached €18.7 million, with EBIT increasing 3% to €4.8 million. The company recorded a net loss of €0.9 million, which was linked to reduced activity in markets such as Mexico and Saudi Arabia.

GAM manages over 40,000 machines with a book value of €314 million and estimates the market value of its fleet to exceed €380 million. Long-term contracted revenue from renting and outsourcing stands at more than €240 million, with a contract renewal rate above 90%.

The company noted that the results reflect the resilience of its diversified business model and ongoing efforts toward operational efficiency, sustainability, and recurring revenue streams.

A statement from GAM said, “We continue to demonstrate that we are a resilient team, capable of maintaining growth of close to 10% per year even in a challenging environment marked by various trade tensions and global crises.

“Sustainability remains a fundamental pillar in our strategy. Thanks to our circular economy model, driven by Reviver, we have managed to extend the useful life of machinery and reduce CAPEX consumption by 17%.”