Loxam exits Colombia, reports Q1 results

Loxam has sold its Colombian subsidiary, Pronto Rental, and exited the South American country. The sale to an unnamed buyer was completed on 12 May and disclosed in Loxam’s first quarter results announcement.

Loxam acquired Bogotá-based Pronto in 2017 and it was one of the largest rental businesses in the country. Its fleet comprised aerial platforms, telehandlers and site equipment such as lighting towers and generators. Loxam still operates in Brazil, which it first entered 10 years ago and where it now runs a 25 depot, national operation.

For the first quarter of the year, Loxam said its construction markets “continued to show no indication of improvement across our geographies”, with resilience in infrastructure but weakness in traditional building and real estate markets.

Total revenues for the quarter were down almost 6% at €584.2 million. EBITDA profit was 7% lower at €190 million.

France remains Loxam’s largest market representing more than 40% of the total. Here, revenues fell 5% to €240.3 million.

Hardest hit were its Nordic markets where revenues fell 11% to €146.7 million. Loxam said market conditions had not changed significantly since the start of the year, although the decline in revenue has stabilised.

Sales in the rest of the world - predominantly in Europe - fell by 1.7% to €197.2 million. Revenues grew in Iberia, Brazil and the Middle East, while economic uncertainty continued to impact the recovery of construction in most Western European markets.

Gérard Déprez, chairman and CEO of Loxam, said demand remained low in the first quarter of 2025 and revenue had decreased at the same pace as in Q4 2024; “As per our 2025 roadmap, we have focused on what is under our control by continuing to implement a prudent policy aiming at reducing fixed costs and consolidating our network where needed through branch mergers.

“These measures, initiated since the second half of last year, have been effective in this quarter as they helped us to keep a stable EBITDA margin excluding capital gains. In the current market, we have also been cautious in Q1 in the commitment of our capex but are reconfirming our 2025 overall capex guidance.”

Loxam had 1102 branches by the end of March. During the first quarter it closed or merged 17 locations.

Déprez noted the publishing of its CSR report for 2024 and said; ”I am pleased to highlight that the Loxam group reports the best indicators in the industry. As an example, the frequency rate of accidents was again further reduced and put us at the forefront of our industry.”