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    GALQ   ES0141571192

GENERAL DE ALQUILER DE MAQUINARIA, S.A.

(GALQ)
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General de Alquiler de Maquinaria S A : GAM grew 6% in turnover and EBITDA improved by 20% during the first quarter of 2018

02/18/2020 | 05:25am EDT

18Feb

  • Turnover grew by 10% on the Iberian Peninsula and Morocco, due to the improved occupancy rate and the increase in rental-related services that do not require investment.
  • The company achieved positive EBIT of 1.4 million and business profit improved 81% practically reaching equilibrium.

The Spanish multinational GAM (General de Maquinaria de Alquiler, BME: GALQ) has presented its results corresponding to the first quarter of 2018 showing 6% growth in turnover, totalling 28.2 million euros compared to 26.7 million in 2017.

This increase has been possible due to improved occupations and the continuous increase in services that do not require additional investment. Especially noteworthy is the strong growth in Iberia and Morocco, where sales grow by 10%. In Latin America the business also grew by 10% although, due to currency devaluation, the final variation was 2%.

On the other hand, EBITDA was 7.1 million euros with an improvement of 20%, significantly highlighting Latin America whose EBITDA grew 62%. The improved EBITDA was due to greater activity in all business lines and the strong cost control, which led to the EBITDA margin increase by three points over the previous year.

The business's profit improved 81%, reaching practically equilibrium and having maintained the same levels of net indebtedness at the end of 2017.

The Company maintains high levels of activity in all its business lines, with special emphasis on all those related to services. The success achieved during the first online auction in 2018, with more than 300 pieces of equipment and 10 million euros of assets for sale, and the start-up of the Hyster lorry distribution business are added to the recent agreement signed with energy company Gas Natural Fenosa and the provision of all kinds of services in sporting, cultural and musical events, which were other factors that contributed to the Company's growth.

Disclaimer

GAM - General de Alquiler de Maquinaria SA published this content on 18 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2020 10:24:07 UTC


© Publicnow 2020
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Financials
Sales 2021 156 M 186 M 186 M
Net income 2021 9,10 M 10,9 M 10,9 M
Net Debt 2021 107 M 128 M 128 M
P/E ratio 2021 15,9x
Yield 2021 -
Capitalization 150 M 180 M 179 M
EV / Sales 2021 1,65x
EV / Sales 2022 1,46x
Nbr of Employees 1 071
Free-Float 21,6%
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NameTitle
Pedro Luis Fernández Pérez Chairman & Chief Executive Officer
Suarez Trelles Director-Finance & Economics
David Fernandez Director-Administration & Systems
Elsa Bermudez Sanchez Operations Director
Jacobo Cosmen Menéndez-Castañedo Lead Independent Director
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