LLYC, global communications firm, has doubled its EBITDA in two years

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Jun 15, 2023, 08:30 ET

MADRID and SAN DIEGO, Calif, June 15, 2023 /PRNewswire/ -- LLYC (BME: LLYC)

In spite of uncertainties triggered by the war in Ukraine and its impact on the global economy, the audited figures for LLYC's 2022 results revealed significant growth. Total revenues of the communications, digital marketing and public relations consultancy amounted to €89.5 million (+39% versus 2021) and operating income (totals less re-invoicing of client expenses) was €72.7 million (+36%). Recurring EBITDA (gross operating profit) improved by 26% to €16 million and consolidated net income rose by 30.6% to €7 million. The company has virtually doubled in size in two years in terms not only of total and operating revenues but also EBITDA (+90%).

"These solid results were made possible by the significant commercial efforts of all our teams and a solid customer base. Thanks to them, we once again met the goals set out in the business plan, in line with our commitment to our shareholders and to the market. The 2023 forecast includes double-digit improvements in turnover. We have a sturdy foundation for inorganic growth in key markets for the firm," said Alejandro Romero, Global CEO of LLYC.

The results reflect a balance between the business units. Europe contributed 36% of operating income and 43% of EBITDA in 2022; Americas, 32% and 30%, respectively. All the rest came from Deep Digital Business, the area that integrates all of the firm's artificial intelligence, digital transformation and inbound marketing service lines and solutions, which posted tremendous growth.

Deep Digital Business already represents one third of LLYC's business. Its services are in high demand and revenues increased by 98% in 2022. It is the key bet for the transformation of the firm's proposal.

LLYC carries a lower level of debt versus the market average and has the resources to meet the ambitious business plan set out in its budget for 2023. The financial debt/EBITDA ratio is -0.3 and gross debt was reduced to €8.9 million (-15% versus 2021).

LLYC strives to be a diverse, inclusive, equitable and multidisciplinary company. Driven by this growth, 2022 is set to be a big year for investment in talent. The firm has incorporated new profiles, which boost its technological and creative capabilities. Last year it closed with 1,127 professionals, compared to 966 in 2021 (+17%).

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SOURCE LLYC