Maja Pawinska Sims 11 Mar 2022 // 3:39PM GMT
MADRID — LLYC, the communications, public affairs and digital agency focused on Spanish and Portuguese-speaking markets around the world, has reported 2021 income of €64.1 million, up 43.5% on the previous year.
LLYC floated on Spain’s BME Growth stock market last July with a market capitalisation of €109 million. Last year, it also bought Spanish advertising agencies Apache and China and Mexican creative firm Beso, increasing its headcount by 40% to 966 people. The firm also signed an alliance with pharmaceutical and food specialist VCGA in Mexico last year.
The agency's operational income amounted to €53.3 million, up 32.9%, while EBITDA for 2021 rose by 51.3% to €12.7 million and net profit was up 134.6% to €5.3 million.
In 2021, Europe contributed 42% of LLYC’s operational income and 53% of EBITDA, while America contributed 36% and 30% respectively. The remainder came from the agency’s new Deep Digital Business, which integrates its artificial intelligence, digital transformation and inbound marketing services.
Founding partner and chairman José Antonio Llorente (pictured, centre) said the firm was on track to double in size to €100 million turnover by 2024. He said: “2021 was a very positive year for the firm. It was marked by the growth and digital transformation of the business. The launch on BME Growth and the incorporation of Apache, China and Beso have allowed us to take a step forward in our technological and creative capacity and competitiveness.”
In November last year, the agency launched LLYC Venturing to invest in start-ups with a high growth potential in the markets in which they operate, with up to €5 million to invest in 20 projects over the next four years. LLYC Venturing will focus on new businesses in areas including digital marketing software, artificial intelligence focused on communication and marketing, and blockchain initiatives that aim to transform communications.
The firm now has owned offices in Europe (Spain and Portugal), Latin America (Argentina, Brazil, Colombia, Chile, Ecuador, Mexico, Panama, Peru and the Dominican Republic) and the US (Miami, plus a Latam Desk in both New York and Washington).