Loxam reports higher 2024 revenues thanks to geographic and sectoral diversification
2024 Highlights
- Group revenues of €2,6 billion in 2024, up 1% compared with 2023.
- Revenues in France in excess of €1 billion, up 2% compared with 2023.
- The integration of the recent acquisitions of JIAB Hyrcenter in Sweden and Motormac and A Geradora in Brazil has fully played its part in maintaining the company’s performance.
- The Group’s partnership with the Paris 2024 Games has been a success. The company has made a concrete contribution to the operational delivery of this global event.
- Patronage actions in support of the preservation of built heritage continue, with new living quarters made available to the Notre-Dame de Paris Cathedral restoration project.
- Sustained safety performance, with a further 10% drop in the Group-wide accident frequency rate to below 10, a record in the equipment rental sector.
Solid performance in an unprecedented context
Loxam, Europe’s leading equipment rental company and number 4 worldwide in the sector, posted another record year in 2024, despite adverse market conditions in the building and construction sector. The Group achieved revenues of €2.6 billion, a slight increase of 1%. Thanks to its geographic and sectoral diversification, the Group is able to deal with sluggish or declining markets such as those in Scandinavia. The company’s performance held up well in France, and remained buoyant in Southern Europe, the Middle East and Brazil.
In France, revenues were up 2%, once again topping the billion euro mark, reflecting steady growth in generalist business and the development of the Group’s specialist activities, notably thanks to the Paris 2024 Olympic and Paralympic Games. Indeed, the Games activity boosted Loxam’s business revenues by around €50 million. Above all, the Olympic partnership enabled the company to consolidate its expertise in major international events, and to confirm its project engineering capabilities, which are directly transferable to other business sectors.
Revenues in the Nordic countries fell by 4.9% to €671 million, reflecting the continuing weakness of residential construction in the main markets of Sweden and Finland. However, major industrial projects remain underway in the region, notably the construction of datacentres, bolstering business prospects.
Revenues in the Rest of the World division remained buoyant, rising by 4.8% over the year to €843 million. As in 2023, business was brisk in Southern Europe, the Middle East and Brazil, where the effects of the acquisitions made in 2023 were felt during the year.
Gérard Déprez, President of Loxam, comments: “2024 is a year of consolidation. After two years of sustained growth in 2022 and 2023, we continued to grow in 2024 in an uncertain environment, marked by persistent inflation and rising interest rates. In a competitive environment, we succeeded in maintaining our business and pricing strategy to once again achieve revenues of over one billion euros in France. Our contribution to the success of the Paris 2024 Games, as a partner and supplier, contributed to this. I would like to warmly thank all our employees for their dedication and congratulate them on the many challenges won in 2024.”
Safety always and everywhere
In terms of safety, Loxam once again improved its performance in 2024, with a 10% drop in the LTIF rate at Group level. In France, safety performance was maintained after a marked 38% drop in accidents in 2023, this despite the large-scale and time-constrained operations of the Paris 2024 Games. This performance illustrates the relevance of safety management within the Group, making it a priority for both its employees and its customers.
Olivier Grisez, CEO France, comments: “Guaranteeing the safety of our employees and customers is a major challenge for Loxam, but also an essential differentiating factor. Thanks to all our efforts, we have lowered the lost-time injury frequency rate for our staff to below 10 for the Group as a whole, a record in the equipment rental sector.”
Digital and soon artificial intelligence in action
Loxam has taken a decisive step forward with the completion of its first major digital transformation program. Workshops management is now entirely digital, from ordering spare parts to scheduling equipment maintenance. Customer relationship management has also benefited from this transformation, with the deployment of new applications to facilitate order tracking. In addition, the company’s state-of-the-art IoT platform harnesses real-time data transmitted by machines for the benefit of customers. Finally, initial trials of artificial intelligence and data analysis are yielding promising results, opening up significant prospects for improved performance.
David Rudnianski, Chief Digital Officer of Loxam, explains: “Digital and artificial intelligence are now major levers of transformation. At Loxam, we are accelerating our digital transition to offer ever more fluid, efficient and responsive services. Thanks to digital platforms, our customers can book equipment in just a few clicks, track the use of their equipment in real time, and exchange information with our staff more easily. Digitalization makes rental simpler and minimizes the carbon footprint of worksites.”
A strong commitment to heritage
Loxam’s commitment to preserving built heritage continued in 2024.
Thanks to its partnership with the Fondation du Patrimoine, Loxam took part in the completion of several projects in France. By 2024, Loxam will have contributed to the renovation of the stained glass windows of the Château Royal de Blois, the restoration of one of the two famous Cabanes Tchanquées in the Bassin d’Arcachon and the restoration of Germaine Tillion’s house in Morbihan.
This commitment has also resulted in renewed support for the restoration of the Notre-Dame de Paris, following the Cathedral’s reopening to the public. A new 550 m² living quarter base camp, comprising 39 modules, was made available until 2029 on the southern edge of the Cathedral. In addition, one of the two modular structures already made available will be maintained until early 2029 to facilitate the continuation of the Cathedral’s exterior works.
Alice Hénault, Director of Prospective and Development at Loxam, comments: “We are very proud to continue our patronage of built heritage. In particular, Loxam’s commitment to the Notre-Dame reconstruction project is unwavering. The restoration work carried out is exceptional and contributes to the transmission of know-how, something to which the company is very attached.”
2025 : ongoing growth
European construction markets should recover in 2025, particularly in the Nordic countries, where they should have reached a low point in the fourth quarter of 2024. In France, civil engineering should benefit from a positive trend in the run-up to the upcoming municipal elections in March 2026.
Against this backdrop, Loxam forecasts moderate growth in 2025, with the aim of continuing to diversify by sector and building customer loyalty by developing new services. The Group will also continue its combined efforts to control costs and win new business through digital innovation.
Stéphane Hénon, Group CEO at Loxam, comments: “Loxam remains a unique entrepreneurial adventure, with a formidable dynamism, an unfailing team spirit and a capacity for innovation that enables us to emerge from turbulent times even stronger. We can therefore look forward to 2025 with confidence, and count on the commitment of all our employees. Loxam will continue to pursue its growth strategy, and aims to deploy its business expertise and recently acquired project engineering skills to serve an ever wider range of sectors, notably in industry, services and the events sector.”
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