Loxam sees signs of stabilisation and increases fleet spending

Loxam said its third quarter results indicated “a first sign of a stabilizing environment” as it reported revenues down 5.5% to €629.1 million. With the impact of the Paris 2024 Olympics stripped out, revenues were flat year-on-year in France and down by 0.7% overall.

The company has maintained its fleet spending at 2024 levels and said it would adjust its CapEx policies to rejuvenate it fleet and “seize opportunities”.

Loxam said the outlook for European construction markets for the next two years was positive and it was expecting a gradual rebound in new residential construction, while activity in infrastructure, industry and defence markets was expected to continue to support demand.

A Loxam wheeled loader working in Paris. (Photo: Loxam)

EBITDA profits for the third quarter were down 9.6% at €237.3 million), and in France were 12.3% lower. EBITDA decreased by 4.4% in the Nordics, and by 9.6% in the rest of the world, which is dominated by the Middle East but also includes Morocco and Brazil.

Sales in France during the quarter were 11.3% lower at €249.7 million (against a 2024 quarter which included Olympics-related business) and were stable in the Nordic region at €166.0 million. Its rest of the world revenues were down just 1.6% to €213.4 million.

It said it will “adjust its CapEx policy to seize growth opportunities and rejuvenate its fleet.” The company has invested €241 million gross in its fleet so far this year – the same level as 2024 - and its Q3 investment was up 26% year-on-year at €98.9 million. Loxam will continue to increase its CapEx in the final quarter of the year.

Gérard Déprez, LOxam’s chairman and CEO, said; “Our commercial performance during Q3 2025 highlights a first sign of a stabilising environment. Loxam continued to deliver resilient financial results and positive free cash flow.

“Restated from the impact of last year’s Olympic Games, all three divisions recorded sequential commercial improvement in Q3 compared to the previous three quarters. Construction markets continued to be affected by low activity in new housing, partly offset by strong levels of civil engineering work.

“Our solid EBITDA margin of nearly 38% continued to benefit from our operational efficiency initiatives…Since the beginning of 2024, we have generated nearly €400 million in positive free cash flow, supported by reductions in our fixed cost base and the adaptation of our capex spending to a softer market.”

Déprez also highlighted Loxam’s customer service award; “I am pleased to announce that Loxam has won, for the ninth consecutive year, the Best Customer Service award in France. This is an acknowledgement of the relentless quality of our customer care and the high dedication of our staff.”