GAM rebuilds 350 machines in first year of ‘Reviver’

GAM said its ‘Reviver’ remanufacturing facility rebuilt 350 machines last year and had “significantly reduced” its annual capital expenditure in 2024.

The information was disclosed in the company’s annual results for 2024, which revealed total revenues up 8% to €304 million, with EBITDA profits of €80.7 million, also up 8%.

Logo: GAM

The company did not split out revenues for its various country operations, but said Mexico recorded revenue growth of 27% and that the country represented one of its markets with the greatest potential.

Also growing fast were Morocco and Saudi Arabia, which rose 22% year-on-year, while growth in Portugal was 17%. Its largest market remains Spain, which saw a 5% increase.

GAM reports three main revenue streams: short term equipment rentals saw 6% growth to €113.7 million, while its leasing and outsourcing business – including industrial forklift rentals – saw a 15% increase to €79.2 million.

GAM’s Reviver plant is in a former ceramics factory in Villacé, León in North West Spain. (Photo: GAM)

The third stream is what GAM calls non-CapEx businesses – distribution, maintenance and training – where revenues were 6% higher at €111.1 million.

GAM said its Reviver remanufacturing plant – which it described as the largest in Europe - plays a key role in its sustainability strategy; “Its operation will contribute to significantly reducing annual CAPEX needs, providing a second life for the company’s fleet machinery.”

The facility was opened last year and had remanufactured 350 machines by the end of 2024; “With these initiatives, GAM reaffirms its commitment to innovation and sustainability, developing solutions that optimise efficiency and generate long-term value for its customers.”