LLYC increases revenues by 70% in the first half of the year to 43.6 million euros
LLYC achieved total revenues of €43.6 million in the first half of the year. The figure represents an increase of 70% compared to the same period in 2021, according to the earnings preview pending the final audit report.
Operating revenues (total revenues minus re-invoicing of services to customers) came to €35.6 million, up 53%. Meanwhile, recurring EBITDA (gross operating profit) improved by 25% to EUR 8.1 million.
The figures for the first half of the year reveal a balanced balance between the three main business units. Europe accounted for 35% of operating revenues and 44% of EBITDA through June; the Americas, 33% and 34%, respectively. The rest, 32% and 22%, came from Deep Digital Business, the area that integrates all 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 accounted for 19% of Europe’s revenues. BESO contributed almost half, 49%, of the Northern Region’s revenue (Mexico, Panama and Dominican Republic).
The growth in first-half results is in line with the 2022 objectives approved by LLYC’s Board of Directors. The budget includes a 35% increase in total revenues, to €84.7 million. Operational revenues would amount to €66.2 million, up 24%. Recurring EBITDA would increase by 25% to EUR 15.9 million.
If we break down operating revenues by main business units, the main novelty is that more than a third (35%) of operating revenues will now come from Deep Digital Business (DDB). The goal is for this area to account for half of the consultancy’s turnover by 2025. In terms of geographic distribution, almost 50% of operating revenues and gross operating profit will come from Europe.
The growth in first-half results is in line with the 2022 objectives approved by LLYC’s Board of Directors
For José Antonio Llorente, founding partner and president of LLYC, “it has been a first half of the year of strong growth for LLYC. The evolution of the business has been very positive, especially if we take into account the war context in Europe, and the uncertainty about basic supplies such as energy and food, which are having a strong effect on prices. The second half of the year looks equally challenging but we expect to maintain the trend and meet our targets.
