Lleida.net increases sales by 15% in 2022 and exceed 20 million euros, in its best earnings results to date

Rhea-AI Summary

Lleida.net reported a 15% increase in sales for 2022, reaching a record turnover of €20.67 million. This growth, amounting to €2.7 million, stems from positive performance across most business lines, except for recruitment impacted by economic trends. The gross margin also rose by 15% to €10.78 million, reflecting a gross margin percentage of 59% in Q4. However, EBITDA decreased by 16% due to higher personnel costs, which increased to €6.34 million. The company’s net financial debt rose by 4% to €8.62 million, although total debt dropped by 17%.

Positive

• Sales increased by 15% to €20.67 million in 2022.
• Gross margin improved by 15% to €10.78 million.
• International sales make up 57% of overall sales.

Negative

• EBITDA decreased by 16%, down €368,000.
• Personnel expenses increased by €1.95 million to €6.34 million.
• Net financial debt rose by 4% to €8.62 million.

MADRID, Spain, March 08, 2023 (GLOBE NEWSWIRE) -- The technology services company Lleida.net (BME:LLN) (EPA:ALLLN) (OTCQX:LLEIF) increased its sales by 15 percent in 2022 compared to the previous year, and closed the year with 20.67 million euros in turnover.

This more than €20 million represents a growth in sales of €2.7 million.

This is the record turnover figure in the company's history and the result of an increase in the results of all business lines, with the exception of recruitment, which has been affected by the economic cycle.

The company, a European leader in the certified electronic signature, notification, and contracting industry, recorded a rise in its gross margin also of 15 percent over the previous year, or €1.42 million over 2021. The figure stood at €10.78 million as of December 31. The gross margin stood at 59 percent of sales in the last quarter.

International sales now account for 57% of the group's cumulative overall sales, focusing mainly on Europe and Latin America.

During the year, the company's EBITDA decreased by 16 percent, or 368,000 euros, due to a significant increase in personnel and the accelerated recruitment of technical and commercial talent both outside and inside Spain.

The company's workforce now exceeds 170 people.

"Our medium-term strategic plan involves incorporating more qualified personnel to strengthen our innovation and development areas and accelerate the company's international sales. This strategy will yield results in the future that will benefit investors, shareholders, and the company's team," added Sisco Sapena, CEO of the company.

The investment in team growth resulted in an increase in personnel expenses of €1.95 million to €6.34 million.

"We grew significantly when we bought InDenova, and now more than ever we are going to bet on more and better professionals," Sapena added.

During 2022, the company's net financial debt increased by four percent over the previous year to 8.62 million euros, part of which corresponds to the loans that were signed for the acquisition of the InDenova technology company.

During the year, however, both long-term and short-term debt were reduced, representing a reduction in total debt of 17 percent, or 1.91 million euros.

Lleida.net has 18 offices worldwide and received 223 patents from authorities in more than 64 countries. These include the European Union, the United States, China, Russia, India, Mexico, Japan, Colombia, Argentina, Peru, South Africa, Nigeria, Australia, and New Zealand.

Two days ago, the company announced the granting of three new patents for its method for the electronic signing of contracts in Germany, Austria, and Switzerland.

A recent study by Coller IP, a Mathys Squire company, valued Lleida.net's SaaS intellectual property portfolio at no less than 14.1 million euros.

Lleida.net has been listed on the OTCQX index in New York since 2020, Euronext Growth in Paris since 2018, and BME Growth in Madrid.

Since the start of the year, the company has traded more than €11 million in shares, and the company's stock has already appreciated by 20 percent.

Earnings Presentation: https://www.bmegrowth.es/docs/documentos/InfPrivilegiada/2023/03/05089_InfPriv_20230307.pdf?GguyKw!!

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/808c4681-3193-483d-93b1-86077843e25b

FAQ

What were Lleida.net's sales figures for 2022?

Lleida.net reported sales of €20.67 million in 2022, a 15% increase compared to the previous year.

How did Lleida.net's EBITDA change in 2022?

Lleida.net's EBITDA decreased by 16%, amounting to a reduction of €368,000.

What is the current net financial debt of Lleida.net?

The net financial debt of Lleida.net increased by 4% to €8.62 million as of December 31, 2022.

What percentage of Lleida.net's sales are international?

International sales account for 57% of Lleida.net's total sales.