LLYC Revenue Up 19% In 2024

(MENAFN- PRovoke) MADRID - LLYC grew by 19% in 2024, a year that saw the Madrid-based firm further its growth plan with acquisitions in the US and. Latin America.

According to agency's earnings report, LLYC's operating revenue hit a record €93.1 million last year. Recurring EBITDA also improved, reaching €17.3 million.

The second half of 2024 was particularly strong for the marketing and corporate affairs firm, with total revenue of €60.6 million and operating revenue of €49.9 million-a 22% and 25% year-over-year increase, respectively. Recurring EBITDA from July to December reached €10.4 million, up 20% year-over-year.

LLYC expects growth to continue in 2025, which it expects to close with €120 million in operating revenue and recurring EBITDA of €25 million.

“2025 will be another year of growth, driven by the trust our clients place in us-more clients with increasingly complex challenges-and, of course, by the talent and dedication of our professionals,”said global CEO Alejandro Romero.“We are now among the 35 largest firms in our sector worldwide, having invested € 45 million in six acquisitions over the past three years while distributing €5 million in dividends to our shareholders-something we always emphasize. We will continue working to improve these figures.”

The earnings reflect a year of substantial investment in the growth of LLYC. The agency spent more than €30 million ($31 million) on acquisitions including Lambert Global in the US, Dattis in Colombia and Spain's Zeus . (Earlier this year, the company sold back its majority stake in San Diego tech agency BAM, which it bought in 2023 .)

The expansions is part of LLYC's aggressive multi-tiered growth plan, which calls for doubling in size over the next three years.

LLYC, which focuses on Spanish and Portuguese-speaking markets, went public in July 2021, when it was listed on Spanish stock market BME Growth . At that time, LLYC set a goal of raising €10 million through stock offerings.

In September 2021, LLYC bought Mexican creative agency Beso , tripling the size of its operation in the market. In addition, the firm acquired Spanish ad agency China in August 2021 and Spanish digital shop Apache in May of that year.

LLYC has acquired other agencies in the past six years: Impossible Tellers (Spain, 2015), S/A Comunicaçao (Brazil, 2015), EDF (USA, 2015), Arenalia (Spain, 2018), Diplolicy (Spain, 2018), and Factor C (Chile, 2020).

A 2015 investment from MBO & Co helped fuel the growth. In April 2021, however, LLYC bought back the private equity firm's 30% stake in the company .

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