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Spanish rental company General de Alquiler de Maquinaria (GAM) had net profit of €19.6 million (about U.S. $24.6 million) for the first nine months of 2008, a 1.8-percent increase compared with the same period in 2007, the company said. Revenue was €282.3 million, while EBITDA was €120.8 million, a 29-percent year-over-year increase. Third-quarter revenues were about €95 million, a 5.5-percent year-over-year increase.
GAM said the international portion of its business, which includes rental operations in Bulgaria, Poland, Romania and Mexico, now makes up 5.2 percent of the company’s business.
GAM expects a slower growth period in Spain for the remainder of 2008 and 2009.
