Llorente & Cuenca (LLYC) H1 2024 earnings summary

Executive summary

• Achieved a semester marked by transformation, investment, and organizational restructuring, focusing on innovation and integration of acquired companies.

• Significant expansion in the United States, driven by the Lambert acquisition and a new management structure.

Financial highlights

• Operating revenue rose 12% year-over-year to €43.2M; total income increased 16% to €54.5M.

• Recurring EBITDA declined 17% year-over-year to €6.9M.

• Net financial debt stands at €22.7M.

• Record investments of €30M in the period.

Outlook and guidance

• Efficiency expected to improve in the second half of the year due to cost adjustments and growth from large contracts.

• Contracts signed for the following year grew by 26% compared to 2023, supporting positive business prospects for 2025.