GAM up 22% in Spain

GAM Alquiler’s Spanish business grew by 21.8% to €54.7 million for the first six months of 2019, with revenues from its international business up 3% to €18.3 million. EBITDA profits rose 56% to €12.8 million in the period.

The results - with total revenues up 16% to €73.1 million - illustrate the continued improvement in Spain’s rental and construction industries.

GAM’s international business comprises operations in Portugal, Mexico, Peru, Panama, Chile, Colombia, Morocco, the Dominican Republic and Saudi Arabia.

GAM is now majority owned by a private equity fund controlled by Spanish businessman Francisco José Riberas.