27.04.2008

GAM up 66%

Spanish rental company GAM, which owns Vilatel has reported full year revenues of €307.5 million, an increase of 66 percent. The company says that 40 percent of the growth was organic and 26 percent from the acquisition of Vilatel and Viasola during the year.

Pre tax profits increased 55 percent to €36.7 million. Capital expenditure totalled €252 million in the year of which only seven percent was for replacement equipment. The average age of the company’s fleet is now 34 months.

GAM is forecasting revenues of €410 to €425 million for the full year 2008, it acquired generator rental company Guimera in February which adds around €14 million of annual revenues.

GAM is also looking to expand outside of Spain and Portugal and now has operations in Romania, Bulgaria and Poland.