LLYC Announces Strong 2022 Earnings Preview, with 36% YOY Increase in Revenue

2022 revenue reached 72.7 million (+36%) and total revenue 88.9 million (+39%), with recurring EBITDA of 16 million (+26%).

LLYC (BME:LLYC)

MIAMI, FLORIDA, U.S., January 25, 2023 /EINPresswire.com/ -- International communications consulting firm LLYC closed 2022 with strong growth, as shown in its unaudited earnings preview. It achieved a record total revenue of 88.9 million, beating the 2021 amount (64.1 million) by 39%. The firms operating revenues amounted to 72.7 million, up 36% from the 53.3 million earned in 2021. Recurring EBITDA rose 26% to 16 million. Meanwhile, LLYCs U.S. operation confirmed its great potential for growth and profitability, contributing 7% of the companys 2022 earnings. With these results, LLYC has delivered on the objectives set out in its strategic plan.

Despite the uncertainty, 2022 has been a good year for the firm, shared Jose Antonio Llorente, Founding Partner and President of LLYC. Revenues and EBITDA show we are a solid, healthy and profitable consulting firm. But we are also increasingly diverse, plural, and creative, allowing us to face coming challenges as best as possible.

Organic and Inorganic Growth

Pro forma operating income grew 19% in 2022. The three operations LLYC acquired in 2021 (CHINA, Apache, and BESO) contributed 15.6 million and are now fully integrated into the company. Organic growth, which accounted for 19% in operating income, was evenly distributed between Europe, Latin America, and the United States.

Profitability is well-balanced between the results contributed by the companys 2021 acquisitions (with pro forma EBITDA growth of 11%) and LLYCs other operations (organic EBITDA growth of 15%). LLYCs units demonstrated their resilience in 2022, even in countries going through political and economic instability: 30% of the firms EBITDA comes from the Americas.

LLYC has nearly doubled in size since 2020, with total revenue up 99%, operating revenue up 81%, and EBITDA up 90%. These results have enabled the firm to invest in developing its people. LLYC ended 2022 with 1,131 professionals, 17% above 2021. The firm promoted 15% of its workforce (167 LLYCers) to positions of greater responsibility, also welcoming 671 young professionals to the 2022 Challengers program and 49 new senior experts to various managerial positions.

Commitment to Innovation

LLYCs Deep Digital Business services not only experienced an increase in demand (98% revenue growth), but have also been confirmed as being highly valuable to the company: 32% of operating revenue already comes from this unit.

The firm also invested 800,000 in R+D+i projects, mainly in the Deep Learning area and innovations such as a new structure for working with multiple data sources or a new data analysis tool, which uses proprietary algorithms to examine social conversation sentiment and determine its impact on brand reputation.

2023 Budget

LLYC expects to continue its growth this year, with its approved budget including 10% increases in both operating income (to 80 million) and recurring EBITDA (to 17.6 million). Total revenues are expected to rise 8%, reaching 96 million. Operating income will continue to be balanced across the firms three business units: 35% from Europe, 31% from the Americas, and 34% from Deep Digital Business.

This budget reflects organic growth only. The company continues to evaluate investment opportunities to add new acquisitions to these figures.

Awards

In 2022, LLYC earned 120 national and international awards and recognitions at important events such as the Cannes Lions, New York Advertising Awards, El Sol, FIAP, Effie, IPRA Golden Awards, El Ojo de Iberoamrica, Eikon, Eficacia, Sabre Awards, and PRWeek Global Awards. The firm was also named Best PR Agency in Europe at PRWeek Global 2022 and PR Company of the Year and Best Public Relations Agency in Europe at the 2022 International Business Awards.

About LLYC

LLYC is a global communications, digital marketing, and public affairs consulting firm with U.S. offices in New York, Miami, and Washington, D.C. and over 1,000 professionals in 12 countries. With over 25 years of expertise, we advise companies that range from startups and unicorns to the biggest Fortune 500 firms.

We help clients make data-driven choices that ensure their companys reputation, trust, and credibility. Whether working on a campaign that will truly connect with people, completing an M&A operation, or carrying out any other communications project or strategy, LLYCs innovative and creative approach to storytelling, extensive experience, and exclusive insights help clients make their visions into reality.

Juan Felipe Munoz
LLYC
+1 786-590-1000
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