Nordics drives 10% rise at Loxam

Europe’s largest rental company Loxam has reported a 10% increase in revenues in 2022 to €2.4 billion, with sales in the Nordic region driving the result.

A Loxam depot. (Photo: Loxam)

Nordic revenues, through its Ramirent subsidiary, were up 10% in the year, with sales in France – still it’s largest market – 6% higher than 2021.

Revenues in the rest of the world, including the Middle East and Brazil, rose by 16%.

Gérard Déprez, President of Loxam, said the company had reported double digit growth for the past two years; “While our 2021 growth was by and large a result of the post-Covid recovery in France, the 2022 performance was truly stimulated by higher demand in the rental market in all our divisions.

“In this enduringly uncertain environment, this performance allows us to look towards 2023 with confidence.”

The company has created a new unit, Major International Sporting Events (MISE), to help it win business in that sector and has already won a contract for temporary power supply for the Paris 2024 Olympic and Paralympic Games.

Stéphane Hénon, Loxam’s Managing Director, said; “The two years of 2023 and 2024 will be a watershed moment for our MISE department thanks to the global reach of the Rugby World Cup France 2023 and the Paris 2024 Olympic and Paralympic Games.

“We wish to position Loxam as the go-to provider for the organisers of these major sporting events.”

Meanwhile, Loxam said it was “investing massively” in low-emission equipment, with more than a quarter of spending now focused on products for its ‘LoxGreen’ ranges.

Alice Hénault, Corporate Strategy and Development Director at Loxam, said; “While 60% of Loxam’s emissions are generated by the use of our equipment by our clients, it was essential to continue to invest massively to renew our fleet and buy the largest number of low-emission machines and vehicles available on the market.

“Thanks to the deployment of a proactive environmental policy, 26% of our investment today is dedicated to the acquisition of new electric, hybrid and hydrogen powered equipment.”

During the year, Loxam continued to acquire rental businesses in Europe, including Ateixo Maquinaria in Spain, Sofranel-SCL in France, HR - Aluguer de Equipamentos in Portugal and ATA Hill & Smith AB in Sweden.