900 230 022 Branches Countries Language: ES | EN Services Solutions About GAM Shareholders News Rental catalogue Contact GAM closes the year 2020 with a 1.2-million-euro profit, in a year determined by COVID19 Categories General Services Training SOMOSGAM Posted on 24 de February de 2021 After a very positive second semester, the company’s diversification and business recurrence have allowed them to minimise the impact of the pandemic derived crisis GAM’s balance is reinforced with a capital increase (31.5 million euros) and with the novation of their syndicated debt (75.4 million euros), which is now sustainable. Granda (Asturias), 24th February 2020.– GAM, the Spanish multinational (General de Alquiler de Maquinaria, BME: GALQ), specialised in integral machinery solutions for the industry, publishes their 2020 results, a period in which the company rapidly reacted to the COVID19 crisis and has proven to have a flexible and resilient business. 2020 has been the most challenging year for the world economy in the last 75 years. GAM has nevertheless obtained a sales figure of 133.6 million euros, thus reaching an EBITDA of 38.2 million euros (29% over sales) and a net profit of 1.2 million euros. Turnover had a minimum shrinking of 6% regarding the 142.7 million reached in 2019, due to the first half of the year where the pandemic’s impact stroke especially hard. The company has achieved these results by focusing on protecting the people who make their team, service to their clients, their investors’ satisfaction, and GAM’s contribution to society. Last year, during the first months of the pandemic, the company had to implement a Temporary Employment Regulation (ERTE) associated with a drop in their business activity. The company no longer applied this measure as activity recovered, reflecting its commitment to its employees. The evolution of the company’s business activity in the second semester (S2) has been very positive. Compared to the first half of the year (S1), the sales figure has increased by 26%, and EBITDA 47%, reaching a profit of 5.1 million euros in this period. These figures have surpassed the mere compensation of the negative impact of the first semester (sales of 59.2 million VS 71.9 million in the S1 of 2019 and losses of 4 million euros) Additionally to the business’s good behaviour, the company has strengthened its balance with an increase of capital of 31.5 million euros (disbursed in November 2020). The company has also novated its syndicated debt (75.4 million euros), turning it into a more sustainable one thanks to a “KPI LInked” model that determines it depending on specific environmental and social “KPIs” (key performance indicators). Thus, at the closing of the year 2020, GAM maintains a net financial debt of 108.6 million euros, 11% less than in 2019, which means similar leverage levels to 2019. According to Pedro Luis Fernández, chief executive of GAM, “GAM has placed its focus in the wellbeing of our employees and in maintaining a close relationship with our clients during this pandemic, making it even closer. The results we have just presented prove our strength and how our employees can face adversity with effort and determination. We are well prepared to face this uncertain 2021 in which our service portfolio will continue growing to go side by side with our clients and generate more value for them“. The high diversification in services and business lines has allowed GAM to quickly regain high activity rates, thus achieving a “V recovery”. At the lowest point, the company maintained 55% of the activity levels before the start of the crisis. And by the end of the year, GAM entirely recovered its activity in the domestic market and has a slightly slower pace in Latam One of the keys to the excellent behaviour of the company is the business mix. Approximately 54% of GAM’s business volume comes from recurrent services and businesses that do not require investment (“Business without Capex”), making the company less dependent on economic cycles or crises such as the one suffered in the 2020 COVID19 pandemic. The main figures at the closing of 2020 show the company’s resilience to the pandemic derived crisis: business volume is 133.6 million euros (-6% over 2019), EBITDA is 38.2 million euros (29% over sales), and net profit is 1.2 million euros. GAM maintains a high available liquidity position (56 million euros), allowing them to benefit from organic and inorganic growth opportunities Main magnitudes Consolidated data (million euros) During this last year, GAM has started a business transformation period by launching a digitalisation program of the organisation with the support of the specialised company Rooter, focusing on people, processes and data efficiency. GAM is also fully immersed in creating a more sustainable company and has joined EIT InnoEnergy as a partner, developing circular economy and last-mile projects to guarantee the preservation of the environment Post navigation Más facilidad para encontrar el curso que necesitas GAM increases 30% its sales in the first nine months of this year © Copyright 2020 GENERAL DE ALQUILER DE MAQUINARIA, S.A. Catalogue | Contact | Our commitment | Legal notice | Privacy policy | Cookie policy | GAM companies Cookies use We use our own and third party cookies for analytical purposes and to show you personalised advertising based on a profile drawn up from your browsing habits. Click on HERE for more information. You can accept all cookies by clicking the "Accept" button or set or reject their use by clicking HERE Accept