LLYC revenues up 70% in the first half of the year, climbing to €43.6 million

LLYC
by
21 July 2022

LLYC posted total revenues of €43.6 million in the first half of the year. This figure constitutes a 70% increase compared to the same period in 2021, according to the preview of results pending the final audit report. Operating revenues (total revenues less re-invoicing of services to customers) rose 53% to €35.6 million. Meanwhile, recurring EBITDA (gross operating profit) improved by 25% to €8.1 million. Not only on target to meet the objectives set out in its strategic plan, the company remains well ahead of its pre-pandemic business figures.

In the words of José Antonio Llorente, Founding Partner and President of LLYC: “LLYC posted solid growth in the first quarter. Our business performance proved to be very positive, particularly bearing in mind the war context in Europe, and the uncertainty regarding basic supplies such as energy and food, which are having a strong effect on prices. The second half of the year will be equally challenging, but we expect to maintain the trend and meet our goals. Communication is today, more than ever, a key tool for business competitiveness. It is an essential asset for companies to defend their business in the current context”.

Balanced business units

First-half figures reveal a healthy balance across the three main business units. Europe accounted for 35% of operating income and 44% of EBITDA through June; the Americas, 33% and 34%, respectively. The remaining 32% and 22% came from Deep Digital Business, an area that integrates all of the firm’s artificial intelligence, digital transformation and inbound marketing service lines and solutions.

The acquisitions made by LLYC last year already have a clear impact on the 2022 accounts. Up to June, Apache Digital and CHINA have accounted for 19% of revenues in Europe. BESO accounted for nearly half, 49%, of the turnover in the Northern Region (Mexico, Panama and the Dominican Republic).

Our Budget is met

The growth in first-half earnings is in line with the 2022 targets approved by LLYC’s Board of Directors. The budget includes a 35% increase in total revenues, to €84.7 million. Operating income would amount to €66.2 million, a 24% increase. Recurring EBITDA would increase by 25% to €15.9 million.

A breakdown of operating revenues by main business units reveals that more than one-third (35%) of operating revenues will now come from Deep Digital Business (DDB). The target set for this area entails covering half of the consulting firm’s invoicing by 2025. In terms of geographic distribution, nearly 50% of operating revenues and gross operating profit will come from Europe.

WE ADD UP TO GROW

2021 ANNUAL REPORT.

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