Recurring EBITDA increased by 15% to 18.4 million euros, 28.1% of which came from the Deep Digital area.
LLYC (BME:LLYC)
MIAMI, FL, USA, January 26, 2024 /EINPresswire.com/ — LLYC’s 2023 results preview shows operating revenues of 83.1 million euros (up 14% from 2022) and a recurring EBITDA of 18.4 million euros (up 15%). This included an 8% increase in revenue and operating income from organic growth alone. These growth and EBITDA improvement rates exceeded international marketing and corporate affairs standards.
LLYC’s Deep Digital business unit, which covers digital marketing, paid media, and artificial intelligence solutions, among others, played a key role in achieving these results. After growing 21% in 2023, it now accounts for 34.5% of operating income and 28.1% of the firm’s recurring EBITDA.
To continue transforming its AI-powered offering, LLYC invested €1.3 million euros into R&D in 2023, a 62% increase from 2022. This enabled the creation of a proprietary AI model for measuring reputation whose accuracy exceeds the main market benchmarks by 20 points, according to the Complutense University of Madrid. It also allowed LLYC to launch AIgent, a generative artificial intelligence solution specialized in conversations about specific fields of knowledge.
“2023 was a crucial year for our firm, with a very positive outcome,” said Alejandro Romero, Partner and Global CEO at LLYC. “We met our revenue and EBITDA growth targets, became a significant player in the United States following the acquisition of BAM, and took a decisive step forward in technology.”
Outstanding preliminary results
LLYC’s 2023 performance surpassed the objectives outlined in its strategic plan for the year and are in line with its 2023-25 business strategy. In addition to the 8% increase in operating revenues and gross operating income from the firm’s organic growth, the acquisition of BAM at the end of March 2023 also contributed to the firm’s growth. Successful structure and expense management aided this as well, resulting in a margin of 22%. In total, LLYC’s revenues (operating revenues plus the re-invoicing of customer expenses) reached 101.4 million euros, a 13% increase over the previous year’s 88.9 million euros.
2024 budget
LLYC’s board of directors has approved the company’s budget for 2024, which anticipates an 8% increase in operating income to 90 million euros and in recurring EBITDA to 20 million euros. The target includes contributions from planned 2024 acquisitions as LLYC continues to invest in its business strategy, which accounts for 40 million euros in investments between 2023 and 2025. Notably, Marketing is expected to account for 46% of revenues by the end of 2024.
The new budget aligns with the updated organizational model, which focuses on two major practice areas: Marketing and Corporate Affairs. The goal is to establish a more efficient, agile, and global structure that allows the firm to assign the most suitable talent to each project, regardless of where they are located.
“Innovation is a fundamental part of LLYC’s DNA,” stated Romero. “It is one of Jose Antonio Llorente’s greatest legacies. That is why we are restructuring to become more responsive to market needs and emerging technologies. This adaptation is an opportunity to add value to our customers and achieve our growth goals in the years ahead.”
New Appointments
LLYC’s Board of Directors has appointed Francisco Sanchez-Rivas as its new chair and Alfonso Callejo as an independent member.
Sanchez-Rivas joined the board in 2020 and has been actively involved in the company’s M&A strategy. He will continue to lead the strategy as chair and be responsible for the relationship with institutional investors. Sanchez-Rivas has over 30 years of experience in investment banking, finance, and corporate strategy. He was a Director in Deloitte’s Corporate Finance department, then CEO of Edmond de Rothschild Corporate Finance in Spain and Portugal for almost ten years. He has directed several companies in the services, energy, agri-food, and technology sectors. He is currently studying for a degree in English Literature at Oxford and enjoys art and literature.
Callejo is recognized as one of Spain’s top executives in talent management and human resources. He was Group Vice President of Human Resources for General Electric’s global Energy business until 2023. Previously, he was General Director of Corporate Resources for Acciona Group, Regional Vice President of Human Resources for several PepsiCo businesses in Europe and Latin America, and Director of Human Resources for Procter & Gamble Portugal. Callejo was also President of the Spanish Association of Human Resources Directors. He holds a Ph.D. in Spanish Literature and is passionate about learning.
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 Argentina, Brazil (São Paulo and Rio de Janeiro), Brussels, Colombia, Chile, Ecuador, Spain (Madrid and Barcelona), the United States (Miami, New York, San Diego and Washington, DC), Mexico, Panama, Peru, Portugal and the Dominican Republic.
LLYC is ranked as one of the 40 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.
Sandra Ramos
LLYC
+1 786-590-1000
contact@llycusa.com
