LLYC’s total revenue in 2020 amounted to 44.3 million euros (40.2 million in fees), with a recurrent EBITDA of 8.5 million euros. The pandemic’s impact on exchange rates in Argentina, Brazil, and Mexico led to slightly lower revenue figures in these operations than in 2019, when the company posted its best results ever (a revenue of US$58.1 million).
If the devaluation of Latin America currencies and constant exchange rates is disregarded, LLYC has maintained its turnover and ended the financial year with stronger liquidity. The consulting firm has withstood the crisis’ effects without increasing its debt or laying off any staff. It continues to pursue its current Strategic Plan, which includes ambitious growth targets and, as always, an ongoing focus on client needs.
According to LLYC’s Founding Partner and Chairman Jose Antonio Llorente, “The current environment is complex. We have clearly gone through a tough period filled with tremendous challenges, but at LLYC, we look to the future with a desire to continue growing and investing in our company and our professionals so we can offer what our clients need and expect from us. Fortunately, we have managed to maintain good numbers and protect our team of professionals. I would like to thank and acknowledge the enormous effort they have made in recent months, showing a great capacity for hard work, creativity, speed, and team spirit.”
In 2020, LLYC’s operations in the Americas accounted for 52% of the company’s revenue, and those in Europe 48%. There was especially noteworthy growth in Argentina (20%), Portugal (9%), and Colombia (8%). LLYC currently owns offices in Europe (Spain and Portugal), Latin America (Argentina, Brazil, Colombia, Chile, the Dominican Republic, Ecuador, Mexico, Panama, and Peru) and the United States (Miami, New York, and Washington D.C.).
Innovation and technology – strategic business areas
In 2020, LLYC focused on innovation and technology to offer comprehensive solutions to its clients, which have benefitted from the company’s incorporation of exponential technologies into the traditional field of communications. Tools such as data analytics, artificial intelligence, and IoT have been added to the firm’s portfolio as it pursues its commitment to facilitating client access to these resources, helping them adapt their businesses to this new era.
“Our digital transformation remains underway, and as COVID-19 speeds changes in the sector, so must we speed our digitalization plans,” stated Alejandro Romero, CEO of the Americas region. “We continue to attract new talent, invest in innovation and technology, and train our colleagues in the skills they will need in our current moment. We once again want to get ahead of the game and adapt to the new challenges our clients face by offering innovative global solutions that will help their businesses and profits.”
Committed to growth
As part of its investment strategy, the consulting firm has sped its growth through acquisitions with a focus on the business’ digital transformation.
In 2020, LLYC acquired Diplolicy, a consulting firm specializing in public affairs, institutional relations, and competitive intelligence analysis. Other noteworthy purchases from last year include the acquisition of a stake in public advocacy firm beBartlet and the Q4 acquisition of 90% of Factor C Comunicaciones in Chile. This doubled LLYC’s size in the Chilean market, where it has had its own team since 2014.
Furthermore, over the course of 2020, it entered into five strategic alliances and collaboration agreements:
– Voikers, voice strategy company.
– The Hub of Brands to jointly implement digital, technological, and creative solutions.
– Brandwatch, to create pioneering big data solutions.
– t2ó to help grow the digital business.
– Pampliega & Associats, strategic communications consulting firm in Andorra.
LLYC’s talent
True to its commitment to talent and despite the consequence of the pandemic, the number of employees has remained stable since 2019, with a total of 600 professionals around the world.
Of the 173 new hires in 2020, 23 were in managerial positions. In addition, a total of 41 professionals were promoted, 50% of which were women who now hold managerial positions in the firm. Women play a fundamental role at LLYC, making up 66% of its workforce and accounting for 44% of its managers.
In addition to strengthening its structure with new senior professionals, LLYC added four new professional partners in 2020: Mariano Vila, Managing Director LLYC in Argentina; Ana Folgueira, Executive Director of Creative Studies; David González Natal, Senior Director of the Consumer Engagement Department; and María Soledad Camus, Partner at Factor C, which LLYC acquired in Chile.
During the COVID-19 crisis, the company prioritized the health and safety of its professionals, maintaining constant and close communication with all its teams through specific engagements. This led the 2020 International Business Awards to recognize the company in the category of Most Valuable Corporate Response.
Adapting our value proposal
Against this uncertain and volatile backdrop, LLYC once again focused on anticipation to adapt to the challenges facing its clients. In mid-2020, it launched a complete series of solutions called “Embrace The New Normal,” catering to 13 challenges it identified in partnership with the many organizations that trust in its work each day.
A record number of awards, recognizing LLYC’s creativity and efficacy
Over the course of 2020, LLYC received 89 awards, won together with its clients at international and regional events in the fields of communications, creativity, and business. The projects that received the most recognitions were Invisible Soledad [Invisible Solitude] for BBK and Elevate Mission for Schindler.
On the corporate level, Scopen’s report for BCMA Spain recognized LLYC as the best communications agency for Branded Content, and MarketingDirecto.com named it one of the ten most creative agencies. Since 2014, LLYC has been consistently named one of Actualidad Económica’s 100 best companies to work for in Spain, and in Mexico, magazine Merca 2.0 named it the best communications consulting firm in the country for the third year running. The two leading sector publications – PRWeek and PRovoke – have maintained LLYC ranking among the most important communication companies in the world.
