LLYC’s income improves by 43.5% to 64.1 million euros
LLYC closed last year with a record total income of 64.1 million euros, according to the audited accounts. This figure rose by 43.5% on the turnover for 2020. Operational income (the total less re-invoicing of services to clients) amounted to 53.3 million euros, up 32.9%. Recurring EBITDA (gross operating profit) improved by 51.3% to 12.7 million euros. The consolidated net profit rose by 134.6% to 5.3 million euros. Accordingly, the firm met its targets set out in its strategic plan that seeks to double its size by 2024.
At present, the communication, digital marketing and public affairs consultancy firm has its own offices in Europe (Spain and Portugal), Latin America (Argentina, Brazil, Colombia, Chile, Ecuador, Mexico, Panama, Peru and the Dominican Republic) and the United States (Miami and the Latam Desk in New York and Washington). In 2021, Europe contributed 42% of the operational income and 53% of EBITDA, while America contributed 36% and 30%, respectively. The remainder came from the new Deep Digital Business unit – the department that integrates all the firm’s lines of artificial intelligence, digital transformation and inbound marketing services and solutions.
José Antonio Llorente, Founding Partner and Chairman of LLYC states, “2021 was a very positive year for the firm. It was marked by the growth and digital transformation of the business. The launch on BME Growth and the incorporation of Apache, CHINA and BESO have allowed us to take a step forward in our technological and creative capacity and competitiveness. Nothing would be possible without the efforts of the team of professionals we have in our clear commitment to talent and the trust our clients place in us”.
Acquisitions to grow
In 2021, LLYC accelerated its growth via acquisitions. Specifically, three operations were shored up, two in Spain – Apache and CHINA – and the other in Mexico, with the acquisition of 75% of BESO, which has led the firm to triple its size in that country and become the market leader. The aim of these operations was to underpin Deep Digital Business services and the commitment to creativity, which will become the key drivers of the business over the coming years. Furthermore, the firm signed an alliance with VCGA in Mexico last year – a leading consultancy firm in the field of pharmaceuticals and food.
Launch on BME Growth
On 22 July 2021, LLYC was launched on BME Growth. The operation was a success. The capital increase was closed with oversubscription at five times the size of the offer and the firm launched on the market with capitalization of 109 million euros. More than 1,300 shareholders have placed their trust in the future of the consultancy firm. Last year, its share price rose by 22.5%, a figure that now stands at 40%. By achieving this milestone, LLYC becomes part of a more demanding league to which end it has adopted best practices in the area of market transparency and governance.
True to its entrepreneurial spirit, the consultancy firm launched this corporate venture initiative in November to invest in start-ups with a high growth potential in the markets in which they operate. It will allocate up to a maximum of 5 million euros in 20 projects over the next four years. The companies that LLYC Venturing wishes to invest in focus on the following sectors: software allocated to digital marketing, artificial intelligence focused on communication and marketing, blockchain firms that help transform communication, the Internet of Things (IoT) to improve communication between people and machines and virtual reality companies that help improve immersive experiences.
Commitment to talent
LLYC’s workforce closed last year with a total of 966 professionals. The acquisitions of Apache Digital, CHINA and BESO have meant the workforce of the consultancy firm has swelled by almost 40%. Of the 330 hirings in 2021, 37 were managerial positions. In addition, a total of 110 professionals were promoted, 70% of which were women. Female talent plays a fundamental role at LLYC, constituting 61% of the workforce.
LLYC is the preferred communication consultancy firm to work for in Spain, according to the BEST AGENCY TO WORK FOR 2021, drawn up by SCOPEN among sector professionals. BESO was also awarded “Best agency to work for in Mexico” by The Great Place to Work Institute.
The firm also increased its number of professional partners last year by five: Marta Guisasola, Global CFO at LLYC; Jorge López Zafra, Managing Director of Madrid; Carlos Llanos, Managing Director of Ecuador; Gonzalo Carranza, Managing Director of Peru, and Gina Rosell, Senior Director for Health Europe.
Commitment to sustainability
LLYC wishes to grow more, but also better. Last year, it strengthened its commitment to sustainability and the environment to reduce its carbon footprint, mitigate the environmental impact of its activity and foster the competitiveness and efficiency of its processes. Specifically, three lines of action were established: responsible procurement, the circular economy and the sustainable office.
The LLYC Foundation place communication at the service of social change. 346 volunteers from the firm and 39 entities collaborated last year in 14 projects and four initiatives that were carried out in such areas as education, nutrition and poverty. In total, 286 people – mainly young people and women – benefitted from the activities in the countries where the consultancy firm is established. Future Voices stands out among its flagship projects, which seeks to train young people with few resources in communication skills, and Capta, in collaboration with the Calicanto Foundation, which seeks to provide women with the necessary tools to become entrepreneurs.
Record year for awards
LLYC has become one of the most creative firms in the world. Over the course of 2021, it has won 128 national and international awards and recognitions – a new record. Its work has received awards at such events as Cannes Lions, IPRA Golden Awards, New York Advertising Awards, CLIO, El Ojo de Iberoamérica, Eficacia, Sabre Awards and Eikon.
In addition, LLYC has been chosen as the “Best communication consultancy firm in Europe” at the PRWeek Global 2021; “Communication consultancy firm of the year in southern Europe” at the Sabre EMEA 2021”, “Communication consultancy firm of the year in Latin America” and “Creative department of the year” at the International Business Awards 2021.
You can see all the details on the investors web page.
|For more information on the 2021 results, we invite you to attend the presentation to be held on Tuesday, 15 March at 1 pm (ESP)|
José Antonio Llorente, Founding Partner and Chairman of LLYC, Marta Guisasola, Chief Financial Officer (CFO), and Albert Medrán, Corporate Director, will analyze the main figures and answer your questions
You can follow the presentation live on the following link