Nordic recovery helps Loxam in second quarter

Loxam reported a 10.9% increase in sales in its Nordic region for the second quarter of the year, helping to offset a marginal decline in its main market France.

It’s rest of the world business – including other European countries, Morocco, the Middle East and Brazil - saw a 5.5% increase year-on-year.

Total sales in the quarter were up 4.5% to €649.0 million, while EBITDA rose by 3.7% to €232.5 million, representing an EBITDA margin of 36%.

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

Sales at its Nordic business – comprising Ramirent and a portion of the Loxam Access division – rose by 10.9% to €181.0 million, supported by large scale projects and a continued recovery in the region, said Loxam.

By contrast, its French business saw a 0.3% decline to €251.2 million, reflecting “continued slower conditions in public works following municipal elections held during the spring, and moderate activity in the construction sector overall.”

Revenue for the rest of the world division increased by 5.5% to €216.8 million, supported by “continued strong trading conditions” in southern Europe and a recovery in central Europe.

Fleet spending significantly higher

The company has significantly increased its spending on fleet compared to 2025, with €228.5 million of gross fleet expenditures in the second quarter compared to €83.6 million in the same period of 2025.

The company’s gross fleet spending in the first half of this year, at €386.2 million, is triple the level of spending in the first half of 2025.

In its financial press release, Loxam said infrastructure works, civil engineering, electrification and digital infrastructure remained dynamic sub segments of construction markets in most European markets during the first half year.

“For the equipment rental industry, conditions in International markets improved during the second quarter, after harsh winter conditions during Q1”, says paris-based Loxam.

“This supports the expectation of a gradual recovery across European markets in 2026, particularly in the Nordic countries. The recovery has not materialized in the French rental market as civil engineering projects dropped following municipal elections of March 2026.”