GAM back at 90% of activity

By Murray Pollok22 October 2020

Spanish rental company GAM Alquiler said its activity levels had returned to around 90% of normal by September/October, having recovered from a low point of 55% at the height of the pandemic lockdown.

The figures are given in GAM’s latest financial results for the six months to 30 June this year, which show a 17.7% decrease in revenues to €59.2 million for the period. The company made a €4.0 million loss for the six month period compared to a €6.1 million profit for the first half of 2019. EBITDA profits for the period were down 25% to €14.7 million.

Gam

The company said its business was progressively recovering from the worst impact of Covid-19, ”with the expectations that in the coming months the entire activity will be able to recover.”

GAM’s Spanish business, which represents three quarters of the total, saw an 18% fall in revenues to €45.1 million, while revenues in Portugal were down 12.5% to €4.2 million.

Its operations in Latin America - in Peru, Columbia, Mexico, Chile, Panama and the Dominican Republic - saw a 22% fall in sales to €8.8 million.

Revenues from GAM’s Saudi Arabian and Moroccan businesses are understood to account for the remaining €2 million in revenues for the half-year period.

Despite the pandemic, GAM has continued to invest in its business. At the beginning of the year it acquired Clem Ecologic/Clem Alba, which rents forklifts, factory automation robots and aerial platforms, and more recently it bought Galman SL, another forklift and industrial equipment rental specialist.

 

 

Latest News
New 300 tonne Liebherr with 90 metre boom
Liebherr announces 300 tonne mobile crane with 90 metre telescopic boom and 12 tonnes per axle
Cummins names Wiltrout VP of Corporate Strategy
Has served in a variety of roles in 12 years at the company
Top training practices for increased construction productivity
Zack Parnell discusses how top practices align with McKinsey & Company’s ‘Construction Productivity Imperative.’