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Commercial and industrial machinery and equipment rental and leasing, 2015

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Released: 2016-11-22

Operating revenues for the commercial and industrial machinery and equipment rental and leasing industry decreased by 3.0% in 2015 to $11.6 billion. This coincided with a decline in the oil industry, which is a major client of heavy machinery rental and leasing services.

Rental and leasing firms operating in energy-based provincial markets had a challenging 2015. After experiencing double-digit growth from 2013 to 2014, Alberta's operating revenue decreased by 10.3% to $5.2 billion. Saskatchewan (-3.9%) and Newfoundland and Labrador (-1.8%) also reported lower operating revenues compared with 2014.

Ontario continued its period of strong growth since 2012, with operating revenues increasing by 9.8% to $2.8 billion in 2015.

Firms in Alberta continued to generate the largest share of industry operating revenues (44.4%) in 2015, which was down from the 48.1% share recorded in 2014. Ontario remained the second largest market with a 24.2% share, followed by British Columbia (11.4%) and Quebec (10.9%).

Operating expenses for the industry declined 0.3% to $10.1 billion in 2015, as the operating profit margin fell from 15.9% in 2014 to 13.6% in 2015.

During the same period, salaries, wages, commissions and benefits were down 0.9% to $2.4 billion. They were the largest component of operating expenses of this industry at 23.6%, followed closely in terms of relative importance by amortization and depreciation (19.5%) and the cost of goods sold (18.4%). The cost of goods sold includes the procurement of equipment to rent and lease. Shares of the top three expenses have remained fairly stable over the years.

Sales to other businesses accounted for 89.7% of total sales in 2015, while sales to individuals and households accounted for 4.4%. Sales to government, non-profit organizations and clients outside the country made up the remainder.

  Note to readers

Data for 2013 and 2014 have been revised.

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