LOXAM records double digit growth and publishes record turnover for 2022
2022 highlights
- Revenue of 2.4 billion in 2022, a new all-time high, up by 10%
- Pioneering environmental ambitions in the sector: massive investment to renew equipment fleet and transition to new low-carbon equipment, supported by the European Investment Bank
- Continuation of European consolidation in the equipment rental sector, with acquisitions of Ateixo Maquinaria in Spain, Sofranel-SCL in Hauts-de-France (France), HR – Aluguer de Equipamentos in Portugal, and ATA Hill & Smith AB in Sweden
- A partner of major sporting events in France including Rugby World Cup France 2023 and the Paris 2024 Olympic and Paralympic Games.
2022, a new record-breaking year
Following the post-pandemic recovery observed in 2021, LOXAM once again registered a new historic performance, proving the pertinence of its organic growth strategy. The European number 1 and world number 4 for equipment rental generated revenue of 2.4 billion euros in 2022, up by 10% on the previous year, benefiting from rising demand and brisk activity in the construction sector.
The three divisions of the Group maintained healthy growth over the course of the year. France recorded a 6% increase in business, while turnover rose in the Nordic countries by 10% and in the Rest of the World division by 16%.
This exceptional performance was also supported by the external growth policy conducted by LOXAM which made several acquisitions, notably in the Iberian Peninsula. These acquisitions thus enable the Group to expand its service offering and develop its international coverage so as to be ever closer to its clients and respond to their needs in the best way possible.
Commenting on the results, Gérard Déprez, President of LOXAM, says: “LOXAM has recorded double-digit growth for the second year running. 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.
“We have also created a unit dedicated to Major International Sporting Events (MISE / GESI in French) to build better awareness of this activity. One of the outcomes of this has been the signature of a contract for temporary power supply for the Paris 2024 Olympic and Paralympic Games.
“In this enduringly uncertain environment, this performance allows us to look towards 2023 with confidence.”
An ambitious CSR policy, ahead of its sector
LOXAM confirmed its maturity in the field of sustainability with the publication of its first audited CSR report in 2022. The Group continued to pursue is staunch support for the energy transition by stepping up its actions towards reducing its direct and indirect emissions. These initiatives enable it to remain in line with its trajectory aiming to achieve a 50% cut in direct CO2 emissions generated by its branches and vehicles, and a 30% cut in its indirect emissions, resulting predominantly from its equipment hire fleet.
In 2022, LOXAM obtained the first Invest EU loan in France. Amounting to 130 million euros, this loan granted under the European Investment Bank’s InvestEU programme allows the Group to further and amplify its vigorous policy to acquire electric and low carbon emission equipment, in the perspective of progressively rotating new low-carbon machines into its fleet.
Alice Hénault, Corporate Strategy and Development Director at LOXAM, says: “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. This strategy is materialised in the development of our innovative range of electric and hybrid equipment, LoxGreen. Ideally suited to tomorrow’s demands in offering our clients a new user experience, responsible and pioneering in the industry, the new LoxGreen equipment is today available for hire in most of our branches in France.”
Moreover, LOXAM’s environmental policy is backed up by other actions such as the use of renewable energy (renewably sourced electricity, biogas, etc.), the modification of the electrical infrastructure of its branches, the associated digitisation to monitor equipment, remote diagnostics and the replacement of in-house vehicles with more sustainable alternatives.
Among its priorities, LOXAM wishes to provide “safety, anywhere & anytime” and aims to achieve a drastic reduction in workplace accidents. Here, the Group reports substantial progress: in 2022, the workplace accident rate measured according to LTIF criteria showed a clear drop of 15% compared with the previous year. Eight hundred of the Group’s sites recorded “zero accidents” this year.
Finally, the soundness of LOXAM’s CSR policy was endorsed by non-financial auditors (CDP, Ecovadis, etc.) and received an array of awards from trade federations and independent third parties. Among the accolades, LOXAM was designated a “Top rated company” by the ratings agency Sustainalytics.
Focus on major international sporting events
Founded in 2022, the Major International Sporting Events (MISE) unit at LOXAM aims to reinforce the Group’s position in this sector. Its integrated and global offering has been structured so as to offer the organisers of major sporting events logistical event management solutions that are global, pertinent and efficient, drawing on all of LOXAM’s fields of expertise.
As a single point of contact for organisers, the MISE unit offers them a portfolio of services ranging from the setting up of a project team to the calculation of events’ carbon footprints, and including budgetary supervision, design services (plans of sites, 3D design and animation, technical analysis) and the application of safety procedures and rules.
LOXAM’s expertise in this field was highlighted last year in tennis at the 2022 French Open with the installation of the TV compound. This complex, built to accommodate all the international media and spanning 4,200 sqm, comprised 227 temporary shelters on two storeys, was fitted with 181 air conditioners, and offered a waste sorting and recycling system (a partnership that has been re-signed for 2023). More recently, the Group supplied a press centre made up of more than 100 shelters and 5 containers to the Alpine World Ski Championships 2023 at Courchevel-Méribel. Five weeks of assembly and a team of 11 LOXAM experts (crane operator, fitters, electricians, aircon technicians) were needed to install this 1,543 sqm space on two storeys, while observing all environmental and safety requirements.
As a historically close partner to the world of rugby, with which it shares the values of fighting spirit, performance, solidarity and camaraderie, LOXAM is also “Official Sponsor” and “Official Equipment Rental Provider” of Rugby World Cup France 2023. Tying in with this major event, a partnership has been signed up to 2024 with Romain Ntamack, the French rugby international, to conduct initiatives in the wider community promoting rugby and its values.
Finally, LOXAM will also be a part of the largest sporting event in the world: the Paris 2024 Olympic and Paralympic Games. At the beginning of 2023, the consortium formed by LOXAM and GL events signed a partnership contract for the supply of temporary power to all the Olympic and Paralympic sites.
Stéphane Hénon, Managing Director at LOXAM, adds: “France is a leading destination and host country for global sporting events, and we are proud to be able to contribute to their success. 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.”
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