Audited results
- The acquisition of Lambert by LLYC in the U.S. drives business growth
- Effective expense management has led to an EBITDA margin of 16%
- The firm concludes a record-breaking semester in investments.
- 2024 is shaping up to be a transformational year for the company
MIAMI, Oct. 15, 2024 (GLOBE NEWSWIRE) -- LLYC (BME:LLYC) closed the first half of 2024 with an operating revenue of 43.2 million euros, marking a 12% increase compared to last year. Total income (which includes client service recharges) improved by 16%, reaching 54.5 million euros. As shown in the audited results, the firm's growth has been driven by the acquisition of Lambert in the United States in February. LLYC's Marketing and Corporate Affairs practice achieved a 16% margin with a recurring EBITDA of 6.9 million euros.
2024 is shaping up to be a transformational year for the company. LLYC is stepping up as a key partner in marketing solutions, improving its corporate affairs services, and updating its organizational structure to be more flexible and effective.
In recent months, LLYC has secured significant Marketing accounts (including Vodafone, Turespaña, IFEMA Madrid, and GWM), demonstrating the uniqueness of its service offering. The company has also fully integrated BESO by LLYC and Apache part of LLYC (both acquired in 2021), creating a comprehensive Brand & Ad services, Paid Media and Performance, Growth, and Deep Learning solutions portfolio.
The 1.1 million euros invested in RDI have yielded AI-powered solutions that are already being applied across both Marketing and Corporate Affairs.
The U.S. as a growth driver
The acquisition of Lambert by LLYC has bolstered LLYC's size and positioning in the U.S., the sector's key market. The successful progress in integration has accelerated the consolidation of the firm's operations in the country, culminating in a new management structure announced last week.
Following these strong results, LLYC has decided to focus its U.S. operations on the East Coast, Florida, and the Midwest. BAM has been excluded from the consolidation perimeter due to integration challenges.
Record investments
In the first half of 2024, LLYC spent 30 million euros for new acquisitions. In addition to acquiring Lambert, LLYC has completed negotiations to acquire Dattis in Colombia and Zeus in Spain. Both of these acquisitions have started contributing to the company's results in the second half of 2024.
LLYC secured a syndicated financing agreement to support these investments in June, amounting to 47 million euros. The credit, signed with CaixaBank and Banco Santander, equips LLYC with the necessary funds to continue its organic and inorganic growth over the coming years.
LLYC holds a solid financial position, with a debt ratio below 1.5x EBITDA this semester, which is in line with the firm's commitment to the market.
"In 2024, LLYC is focusing on investment and transformation," said Alejandro Romero, Partner and Global CEO of LLYC. "With our new organizational model and recent acquisitions, we're setting the stage to support the firm's future growth. Our clear focus is on innovation, creativity, top talent, and high-potential markets like the United States, where our presence has been strengthened following the Lambert acquisition. The recent contracts we've secured reinforce our position as a strategic partner in marketing solutions
About LLYC
LLYC (BME:LLYC) is a global Corporate Affairs and Marketing consulting firm that partners with its clients in creativity, influence, and innovation to enhance and protect the value of their businesses, turning every day into an opportunity to grow their brands.
Founded in 1995, LLYC is present in the United States (Miami, New York, San Diego, Washington, DC, Grand Rapids, Detroit, St. Louis and Phoenix), Argentina, Brazil (São Paulo and Rio de Janeiro), Brussels, Colombia, Chile, the Dominican Republic, Ecuador, Mexico, Panama, Peru, Portugal and Spain (Madrid, Valencia and Barcelona).
In 2023, LLYC's operating revenues exceeded 83.1 million euros. LLYC is ranked as one of the 35 largest communications companies worldwide, according to PRWeek and PRovoke. LLYC was named the Top Communications Consultant in Europe at the 2022 PRWeek Global Awards and Communications Consultant of the Year in Latin America in 2023 by PRovoke.
Press contact:
Sandra Ramos
sandra.ramos@llyc.global
llyc.global
