Loxam 3Q17 - Continuing positive market dynamics feed into strong results
Loxam, the largest European equipment rental player, reported another sound set of quarterly results, for 3Q17, as positive underlying trends from previous quarters have not vanished. Like-for-like revenues grew by 7% to €346m, supported by favourable dynamics in the construction market. These are most evident in France, with the Generalist and Specialist divisions rising by 6% and 10% respectively, outperforming market’s growth forecast of 4.4% in 2017 (source: Euroconstruct). Management added that Lavendon and Hune also grew organically, which completes the favourable picture.
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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