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1H 2023 results show strong performance by LLYC US and Deep Digital

Acquiring BAM in San Diego made the United States LLYC's third largest market by volume. Deep Digital continues to build momentum, improving revenues by 25%.


MIAMI, FL, USA, September 21, 2023 / -- LLYC (BME:LLYC) recorded a double-digit net income growth of 13.4% YoY, earning €4.5 million in the first half of 2023. The communications, digital marketing, and public affairs consulting firm earned €4.5 million in the first half, up 13.4% compared to 1H 2022. The audited results confirmed a 12% increase in operating and total revenues (€39.9 million and €48.7 million, respectively) and a 9% improvement in recurring EBITDA (gross operating profit) to €8.8 million.

These figures show the company has achieved 50% of its estimated revenue and EBITDA for 2023. Growth in 1H was driven by Deep Digital’s sustained momentum and the acquisition of BAM by LLYC, which made the US the firm's third-largest market in terms of volume.

LLYC reported 8% organic revenue growth, driven by high-impact operations in Madrid, Sao Paulo, and Mexico. The company also maintains a solid balance sheet and financial profile.

"Our company is expected to experience double-digit growth in 2023, despite the challenges of the current environment,” said Alejandro Romero, Partner and Global CEO at LLYC. “The first half of the year has brought us great news, like the acquisition of BAM by LLYC in San Diego, tripling our size in the US, and the momentum of the Deep Digital unit. I am delighted with our strong and diverse company, and we will continue prioritizing innovation and creativity to transform our business model. Our objective is to serve as a leading firm that supports the growth of our clients and professionals."

Deep Digital: fueling growth

Encompassing digital marketing services such as creative, performance, and paid media, as well as digital transformation and intelligence solutions, LLYC’s business unit Deep Digital achieved a 25% revenue increase, and its contribution to the firm's overall results is growing steadily. Currently, it accounts for 34% of operating revenues and 26% of recurring EBITDA.

Revenue by business units:
United States: 7% of its revenue and 8% of the gross operating income.
Europe: 34% of operational income and 40% of recurring EBITDA
Latin America: 25% of its revenue and 26% of its EBITDA.

Revenue by region:
United States: 9% of operating revenues and 10% of recurring EBITDA.
Europe (Spain and Portugal): 44% and 49%, respectively.
Northern region (Mexico, Panama, and Dominican Republic): 26% and 21%.
Andean region (Colombia, Peru, and Ecuador): 11% in both variables.
Southern region (Brazil, Argentina and Chile): for 10% and 9%, respectively.

Key drivers: technology, talent, and creativity

LLYC is committed to advancing its capabilities in emerging exponential technologies and AI, as well as attracting/retaining talent, with a yearly investment of €1 million. The firm has 1,175 professionals (+4.3%) globally as of June 30, with 63% women. In 1H, 95 employees were promoted, and 639 young consultants participated in the Challengers Program to accelerate their careers.

In the first half of this year, LLYC firm was recognized as the most outstanding Spanish consultancy firm in global rankings by PRWeek and PRovoke. Also, its digital marketing agency, BESO by LLYC, was named the number one agency in Mexico by Merca 2.0 magazine and earned the prestigious title of "Best of the Best." Meanwhile, Apache by LLYC became a Google Premier Partner, the highest certification of the technological giant that only 3% of affiliated companies receive.

The agency has won many national and international awards for the creative campaigns developed for its clients. In June, El Sol 2023 awarded "Piensa menos"' (Think less) by CHINA for Adolfo Domínguez and “Kolapso” by the Consumer Engagement team of Madrid for Fundación BBK. Another successful initiative is “Sopa de Señas” by Beso by LLYC for La Moderna, which has won awards at El Ojo and the CLIO Awards. “THD, The Hidden Drug” has won at the IPRA and Impacte Awards.

LLYC’s commitment to society

LLYC is taking steps towards sustainability by focusing on circular economy, sustainable offices, and responsible purchasing. Earlier this year, the firm launched its Carbon Footprint project using the GreenMko tool.

The LLYC Foundation helped 231 vulnerable young people in countries where the company is present during the first half of this year thanks to the dedication of 91 professionals and volunteers, who contributed over 400 hours to various projects.

Additionally, LLYC launched a project to obtain Refinitiv and Clarity ESG ratings to improve ESG management.

About LLYC

LLYC (BME: 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 1,100 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 company’s 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, LLYC’s innovative and creative approach to storytelling, extensive experience, and exclusive insights help clients make their visions into reality.

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