Spanish rental company GAM has announced a year-on-year revenues increase of 11%, to €116.4 million.
The company cited better rental prices and increased revenues from its on-hire service operations as key factors to its success.
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 20% year-on-year for the company, to €31.1 million. A tighter control to GAM overheads was said to be factor to EBITDA growth.
The increase to GAM’s sales came from its traditional rental business, which rose 4.4%. However, its on-hire service revenues grew 68%. This includes services such as training, maintenance, sales, digital auctions and events. Such revenues amounted to 15% of total revenues for the company.
Despite positive increases, GAM’s net result was -€7.74 million, though this was an increase of over €3 million on the year earlier.