Ankündigung • Apr 13
General de Alquiler de Maquinaria, S.A., Annual General Meeting, May 11, 2026 General de Alquiler de Maquinaria, S.A., Annual General Meeting, May 11, 2026. Location: calle almagro 9, madrid., Spain New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (5.0% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.62, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Trade Distributors industry in Europe. Total returns to shareholders of 40% over the past three years. Reported Earnings • Aug 05
First half 2025 earnings released: EPS: €0.031 (vs €0.024 in 1H 2024) First half 2025 results: EPS: €0.031 (up from €0.024 in 1H 2024). Revenue: €152.1m (up 6.1% from 1H 2024). Net income: €2.93m (up 32% from 1H 2024). Profit margin: 1.9% (up from 1.6% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Ankündigung • May 26
General de Alquiler de Maquinaria, S.A., Annual General Meeting, Jun 23, 2025 General de Alquiler de Maquinaria, S.A., Annual General Meeting, Jun 23, 2025. Location: calle almagro 9., madrid Spain Major Estimate Revision • May 25
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €331.2m to €326.0m. EPS estimate also fell from €0.085 per share to €0.05 per share. Net income forecast to grow 11% next year vs 15% growth forecast for Trade Distributors industry in Spain. Consensus price target of €2.10 unchanged from last update. Share price was steady at €1.26 over the past week. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (1.4% net profit margin). New Risk • Apr 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 40% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). New Risk • Mar 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Profit margins are more than 30% lower than last year (2.5% net profit margin). New Risk • Mar 02
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2023 fiscal period end). Interest payments are not well covered by earnings (0.8x net interest cover). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Director Francisco Pena was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 24
Consensus EPS estimates fall by 47% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €313.1m to €305.6m. EPS estimate also fell from €0.085 per share to €0.045 per share. Net income forecast to shrink 55% next year vs 16% growth forecast for Trade Distributors industry in Spain . Consensus price target of €2.10 unchanged from last update. Share price was steady at €1.30 over the past week. New Risk • Nov 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (3.9% average weekly change). New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Major Estimate Revision • Jul 28
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.105 to €0.085. Revenue forecast unchanged from €313.1m at last update. Net income forecast to shrink 16% next year vs 18% growth forecast for Trade Distributors industry in Spain . Consensus price target of €2.10 unchanged from last update. Share price was steady at €1.34 over the past week. Ankündigung • May 15
General de Alquiler de Maquinaria, S.A., Annual General Meeting, Jun 13, 2024 General de Alquiler de Maquinaria, S.A., Annual General Meeting, Jun 13, 2024. Location: calle almagro 9., madrid Spain Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: €0.10 (vs €0.081 in FY 2022) Full year 2023 results: EPS: €0.10 (up from €0.081 in FY 2022). Revenue: €293.6m (up 32% from FY 2022). Net income: €9.07m (up 18% from FY 2022). Profit margin: 3.1% (down from 3.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Feb 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (4.1% average weekly change). New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Oct 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Spanish stocks, typically moving 5.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Aug 06
First half 2023 earnings released: EPS: €0.043 (vs €0.025 in 1H 2022) First half 2023 results: EPS: €0.043 (up from €0.025 in 1H 2022). Revenue: €130.7m (up 22% from 1H 2022). Net income: €4.04m (up 69% from 1H 2022). Profit margin: 3.1% (up from 2.2% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: €0.08 (vs €0.028 in FY 2021) Full year 2022 results: EPS: €0.08 (up from €0.028 in FY 2021). Revenue: €233.8m (up 39% from FY 2021). Net income: €7.66m (up 191% from FY 2021). Profit margin: 3.3% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 08
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €853.0k from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 7.3%, compared to a 9.6% growth forecast for the industry in Spain. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: €0.03 (up from €0.017 in FY 2020). Revenue: €168.3m (up 20% from FY 2020). Net income: €2.63m (up 130% from FY 2020). Profit margin: 1.6% (up from 0.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 4.7%, compared to a 8.9% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 03
First half 2021 earnings released: €0.009 loss per share (vs €0.064 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €80.7m (up 29% from 1H 2020). Net loss: €853.0k (loss narrowed 79% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 26
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €140.4m (down 6.9% from FY 2019). Net income: €1.14m (down 97% from FY 2019). Profit margin: 0.8% (down from 27% in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 11%, compared to a 4.9% growth forecast for the Trade Distributors industry in Spain. Is New 90 Day High Low • Feb 25
New 90-day high: €1.52 The company is up 45% from its price of €1.05 on 27 November 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: €1.26 The company is up 24% from its price of €1.02 on 23 October 2020. The Spanish market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: €1.23 The company is up 31% from its price of €0.94 on 11 September 2020. The Spanish market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: €1.13 The company is up 10.0% from its price of €1.03 on 26 August 2020. The Spanish market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 9.0% over the same period. Ankündigung • Sep 30
Caja Asturia, Dinamia Capital Privado S.A., SCR, and N+1 Private Equity Fund I, funds of Nmás1 Private Equity, and the management of General de Alquiler de Maquinaria S.L. announced the acquisition of the company for €77.6 million. Caja Asturia, Dinamia Capital Privado S.A., SCR, and N+1 Private Equity Fund I, funds of Nmás1 Private Equity, and the management of General de Alquiler de Maquinaria S.L. announced the acquisition of the company for €77.6 million on July 10, 2003. Dinamia and N+1 invested €12 million each and Caja Asturia invested €3 million in the transaction. Pedro Luis Fernández invested €2.3 million and Manuel González, an officer of the company invested €0.5 million. Additionally, there will be vendor loans of €8.5 million, acquisition debt of €5 million and rollover debt and equity of €28 million and €6 million, respectively. Cuatrecasas provided legal advice to the investors and KPMG (Unisys Consulting) provided due dilligence. Is New 90 Day High Low • Sep 19
New 90-day low: €0.92 The company is down 19% from its price of €1.14 on 19 June 2020. The Spanish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 13% over the same period. 
