LLYC’s operating revenue grows 12% in the first half of 2024, reaching 43.2 million euros

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