Loxam Group achieves revenue of €2.6 billion for the first time, and exceeds one billion euros in revenue on its domestic French market
2023 Highlights
- Group revenue of 2.6 billion euros in 2023, up 6.2%.
- For the first time, revenue of over 1 billion euros in France, up 6.6% on 2022.
- New acquisitions: JIAB Hyrcenter in Sweden, strengthening the Group’s footprint in Scandinavia, and Motormac and A Geradora in Brazil, positioning Loxam among the leaders on this market.
- Pursuit of the development strategy around major international sporting events with the Rugby World Cup and the signing of the partnership with the Paris 2024 Olympic and Paralympic Games.
- Commitments to reduce greenhouse gas emissions and a Carbon trajectory validated by third-party reference organization SBTi. Loxam, the first equipment rental company to be compliant with SBTi requirements.
- Remarkable safety performance, with a 24% reduction in the number of accidents, reflected in an equivalent drop in the accident frequency rate.
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 2023, despite an unprecedented context for the public works and construction sector. The Group exceeded 2.5 billion euros in revenue for the first time, an increase of more than 6%, benefiting from an expanded geographical footprint and its diversification efforts. Performance in France, Southern Europe, Eastern Europe and Brazil underpin the Group’s development strategy.
In France, revenue topped the billion euro mark for the first time (+6.6%), reflecting steady growth in the generalist business and sustained development in the Group’s specialist activities.
At constant exchange rates, the turnover of the Nordic countries rose by 3%, thanks to current major industrial projects and the acquisition of JIAB Hyrcenter in northern Sweden. The adverse effect of exchange rates explains the 2.3% contraction in sales in 2023 at current exchange rates.
revenue in the Rest of the World division climbed 14.4% to 804 million euros, making it the Group’s second largest division. Business was particularly brisk in Southern and Eastern Europe, as well as in Brazil, where last year Loxam acquired rental companies Motormac and A Geradora, quadrupling its market share.
Gérard Déprez, Chairman of Loxam, comments: ” 2023 was a year of sustained growth. After an exceptional performance in 2022, we continued to grow in 2023 in a particularly complex environment, marked by persistent inflation and the rise in interest rates that severely disrupted the construction market. For the first time, we recorded sales in excess of one billion euros in France. This performance, repeated year after year, demonstrates the solidity of the Loxam model, our unrivalled expertise, and our ability to respond ever better to our customers’ expectations.”
Outstanding safety performance
2023 saw a remarkable safety performance for the Group, with a marked drop in accident rates in 2023, down 24% at Group level and 38% in France. This performance is due in particular to the implementation of a safety awareness and management program, strong managerial leadership and the sharing of best practices with subsidiaries with the best safety records, such as those in the United Kingdom, Scandinavia and Central Europe.
Stéphane Hénon, Managing Director of Loxam, comments: “Safety remains a top priority for the Group. This year, we are reaping the rewards of past investments, with a major drop in accidents linked to our operations. As an advocate of continuous improvement, I see this as a sign of the company’s great maturity, now able to take full advantage of synergies between its subsidiaries, including international ones. With a frequency rate of 11 accidents per million hours worked, Loxam is among the European leaders in safety in its sector.”
2024: Olympic ambitions!
After the success of the Rugby World Cup France 2023, in which Loxam was one of the main Official Sponsor, the Group is now looking ahead to the summer of 2024 with the Paris 2024 Olympic and Paralympic Games, for which it is also an Official Supporter. As a partner and supplier, Loxam has brought on board an ecosystem of French companies to meet the logistical needs of the Paris 2024 organizing committee. Starting in the spring of 2024, the Group will deliver temporary facilities to welcome the public, athletes and organizers at some twenty sites during the Games. In partnership with events specialist GL events, Loxam will also provide electrical connections, distribution and supply of emergency and temporary power, as well as ventilation and air conditionning at the competition and non-competition venues.
Gérard Déprez comments: “These Olympic and Paralympic Games are an exceptional opportunity for our Group, not only to assert its role as a key supplier for events of this scale, but also to demonstrate its commitment to supporting major international sporting events. Over and above our technical contribution, getting involved with Paris 2024 means sharing in a human and collective adventure. It allows us to involve our staff, but also our customers, in a positive dynamic, to enthusiastically welcome this historic event for the country.”
Media contacts
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