2023-11-08 22:51:35
The Asturian company General de Maquinaria Rental (Gam) had a net profit of 3.7 million in the first three quarters, 24.5% less than in the same period of the previous year, although the business volume grew by 23% and reached 203.4 million until September 30. The company attributed the decline in profit to the impact of higher financial costs.
The gross operating result (“ebitda”) increased 21%, to 52.6 million (26% of sales, a proportion similar to that of the last year), and the operating profit (“ebit”) reached 16, 4 million (8% of turnover), which represents an increase of 27%.
The company informed the market that all its business lines showed growth and that recurring (long-term) business was the one that increased the most, with an improvement of 41%, and contributed revenues worth 50.1 million in nine months. equivalent to 25% of the total billing figure.
The area of activity made up of distribution, sales, maintenance, training and others, which do not require additional structure and capital, increased its turnover by 30% and stood at 74.1 million, which represents 36% of the total business. And the rental and services line entered 79.2 million (39% of the total) after increasing 15%.
GAM has acquired the 50% that it did not control in its company in Saudi Arabia, of which it now has 100%. The Asturian group has also completed the acquisitions – already announced – of the Valladolid company Carretillas Mayor and the Mexican company Ozmaq.
GAM operates in nine countries and has 80 branches, 10 business lines and more than 40,000 machines owned, with a managed fleet valued at 650 million euros.
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