LLYC improves revenue forecast for 2024

LLYC (BME:LLYC) has updated its earnings guidance for 2024. The marketing and corporate affairs company expects to improve its operating revenues by 12.8% year-on-year to €93.7 million. The figure is 4% higher than the one approved by the firm’s board of directors in January. Meanwhile, recurring EBITDA will close the year at €17 million, similar to that of 2023, after excluding BAM. The forecast is for the EBITDA margin to stand at 18%, above the industry average, returning to the 20% path in the second half of the year.

2024 is proving to be a year of investment and transformation for LLYC. Since January, the firm has committed a record €30 million in new acquisitions: Lambert (United States), Dattis (Colombia) and Zeus (Spain). In addition, the company has consolidated its position as a strategic partner in Marketing solutions, is making progress in the integration of its Corporate Affairs offering and is renewing its organizational model to make it even more agile and efficient.

During the last months LLYC has consolidated its business in the United States -it is already its second market- and has won important multi-year contracts in the Marketing area (Vodafone, Turespaña, IFEMA Madrid, Michigan Economic Development Corporation, State of Missouri or GWM) that confirm the differential approach in the provision of these services. This increased commercial activity will improve business figures for the second half of the year and expectations for 2025. The firm expects recurring EBITDA in the second half of the year to be almost 50% higher than in the first half, demonstrating that the measures taken are working.

The evolution of the results this year will affect the objectives of the 2023-2025 strategic plan approved by LLYC. The company now estimates that operating revenues will close the period at €120 million, a growth of 65% compared to 2022. Recurring EBITDA would stand at €25 million (+56% compared to 2022) with a margin above 20% on operating revenues.

In the last three years, LLYC has ranked among the 35 largest companies in the world in its sector, has invested 45 million euros in the acquisition of 6 companies and has distributed 5 million euros in dividends.

This content is translated with AI.