Loxam bears fruits of acquisitions
By Joe Malone04 September 2017
France-based rental company Loxam has recorded a second-quarter revenues increase of 47.8% year-on-year, courtesy of its acquisitions of Lavendon Group and Hune.
The company’s revenues were €356 million, compared with €241 million in the second quarter of 2016. On a like-for-like basis, stripping out the company’s revenues as a result of its Lavendon and Hune acquisitions, Loxam’s revenues grew 5.5% year-on-year.
Loxam’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter were €124.3 million – a year-on-year increase of 43.3% - representing a margin of 35% on its revenues.
For the first half of 2016, Loxam’s revenues grew 46%, while its EBITDA increased 54%.
Gérard Déprez, chairman and CEO of Loxam, said, “Following solid second quarter results, Loxam is on track to achieve its revenue and EBITDA objectives for the current year.
“Our revenue growth during the quarter reflects the positive market conditions observed in the vast majority of our geographies, notably in France.”
Déprez added, “In order to fully leverage this favorable market trend, we have spent capex according to our plan and will continue to do so during the second half of the year. Our short-term objective remains to put our operations in a position to seize the market growth.”
Deprez said that its quarterly results reflected the company’s acquisition of Hune and Lavendon for the first time. He said its newly-acquired operations had contributed positively to the growth of both its revenues and EBITDA, and highlighted the new size and the strengths of the company.