MADRID, 21 May. (EUROPA PRESS) –
GAM recorded a net profit of 1.1 million euros in the first quarter of this year, which represents an increase of 22.2% compared to the profits of 900,000 euros recorded in the same period of the previous year, as reported by this Tuesday the machinery rental, maintenance and sale company to the National Securities Market Commission (CNMV).
In turn, the turnover increased by 13%, to 67.4 million euros, while the net operating profit (Ebit) grew by 12%, to 4.7 million euros.
For its part, the company increased its gross operating result (Ebitda) by 20%, reaching 18.3 million euros.
GAM has detailed that it continues its growth path in all geographies, driven, especially, by the operations in Morocco and Arabia (M
The company has doubled its size in the period between 2019 and 2023, and has continued to grow in the first quarter of 2024, “showing its vocation for growth and concentration of the sector.”
In addition, it has experienced a “high diversification of businesses, sectors and markets”, producing, in turn, a change in the business mix and giving entry to the distribution and after-sales businesses and the ‘renting’ and ‘outsourcing’ business. .
“This reduces the need for investment – distribution business -, provides balance – low dependence on sectors and/or businesses – and provides recurrence in the generation of income (‘renting’ and ‘outsourcing’), a business that already represents 28% of total income,” the company commented.
GAM has also indicated that it is committed to sustainability and that it is focusing on the circular economy ‘Reviver’ project, which will extend the useful life of the machines, reduce ‘Capex’ consumption, maximize cash generation and improve the return on capital employed.