Loxam net profits reach €27.3m in 2010

By Murray Pollok10 March 2011

Loxam's annual revenues over the past six years.

Loxam's annual revenues over the past six years.

Loxam has confirmed that its revenues in 2010 were €702.5 million, up less than 1% from 2009, with net profits bouncing back to €27.3 million from an almost break-even point in 2009.

The revenue figure - announced at a press conference in Paris today - includes a six month contribution from Locamachine, the Belgian rental company it acquired in the middle of last year. That business has annual revenues of around €5 million.

Revenues outside France are almost unchanged at €105.7 million (€104.8 million in 2009) and in France revenues totaled around €597 million, up around €5 million from 2009.

The results show that Loxam's business has stabilised and after several years of cost cutting is now returning to profitability. EBITDA profits of €234.3 million for the year.

The company has also started to resume capital investment in its fleet. In 2010 it spent €105.5 million, which is three times the amount invested in 2009, although not approaching the peak of 2007, when the company procured €245.1 million worth of equipment and machinery.

The financial details released by Loxam show that building construction represents 37% of Loxam's revenues, followed by civil works (36%), industrial (10%) and 17% for other sectors.

More to follow.

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