12.03.2019

Solid year for Loxam

French international rental group Loxam, has posted its full year results for 2018.

Total revenues for the 12 months were more than eight percent higher at €1.48 billion, with France up almost six percent to €884.3 million, while the growing International division was 12 percent higher at €598.3 million. Pre-tax profits improved eight percent to €111 million.
Capital expenditure for the year declined 6.5 percent to 373.4 million, partly due to acquisitions, while disposals of equipment from the fleet declined more than 10 percent to €56.2 million.

Fourth quarter revenues increased five percent to €387.5 million, while pre-tax profits dropped 34 percent to €28.5 million. Revenues in France were almost five percent higher at €233.1 million, while International revenues were up six percent at €154.4 million. Operating profits were flat in France, at €78.4 million, but profits from the international operation dropped more than 12 percent to €48.6 million.
Net debt as of the end of December was one percent higher at €2.14 billion.

Chief executive Gérard Déprez said: “2018 was a very satisfactory year for Loxam since we benefitted from a sound organic growth all along the year and succeeded in increasing our operational profitability. This performance was achieved in the context of a positive construction environment which fuelled a solid demand for equipment rental services. An important achievement of the year was the operational integration of Lavendon and Hune into the group. Besides, the growth of our EBITDA has enabled us to show a deleveraging, while keeping an appropriate level of fleet capex, in line with market demand. In 2019, we anticipate that the economic and construction environment will remain favourable for the group.”

Vertikal Comment

This is a tough year to compare as it includes a number of acquisitions, which were not in the numbers for the full 12 months. But overall it is relatively positive and shows a steady but slow trend towards the international business outgrowing the domestic French business, and therefore reducing dependence in the home market.



Vertikal Comment
This is a tough year to compare as it includes a number of acquisitions, which were not in the numbers for the full 12 months. But overall it is relatively positive and shows a steady but slow trend towards the international business outgrowing the domestic French business, and therefore reducing dependence in the home market.