Lantek goes for growth and hits €21.1 million turnover

Sheet metal software specialist Lantek has increased its turnover by 9.6%, reaching €21.1 million. As PES reports, it’s Digital Transformation (Solutions) division has fared particularly well with impressive growth figures of 25%.

Spanish software developer Lantek has disclosed its economic results from last year, reflecting the steadiness of its rate of growth.

In 2019, turnover reached €21.1 million, which represents an increase of 9.6% compared to the previous year, securing its position as a leading company in software development and advanced manufacturing solutions for the metal and sheet metal sector.

The company is a Spanish multinational, specialising in the development of software for the sheet metal sector. It employs over 200 people worldwide and is a strong leader in its sector thanks to its ability to innovate and its commitment to internationalisation.

The number of active clients increased notably in 2019, bringing in 1,900 new users, doubling the normal growth rate and reaching a total of 23,700 distributed over more than 100 countries.

Lantek's international business continues to grow, now constituting 86.3% of turnover – the countries with greatest significance for the company being: Germany, Italy, the USA, France and China which, together with growing local business, are becoming strategic markets.

The UK also achieved double digit growth, despite the uncertainties surrounding Brexit. Rob Powell, UK commercial director said: “I am pleased to have achieved any growth in such a politically uncertain year. The 14.1% we achieved overall is a good result. Q4 was up 30% on the previous year, which makes us optimistic looking towards 2020.”

Market penetration

In the case of South Korea and France, an increase of 30% has been achieved in each territory. Germany attained a notable increase of 26%. Mexico, Turkey and Poland also increased their turnover, exceeding double digits.

“For yet another year, we have registered close to double digit growth which has enabled us to achieve record sales figures,” confirms Alberto López de Biñaspre, Lantek CEO. This demonstrates the stability of our business, thanks to our international market penetration, the tremendous growth of our installed client base and our exceptional portfolio of products and solutions.

“This stability allows Lantek’s business to develop sustainably while maintaining a solid financial position which means that we are able to face the growth in demand implied by the new challenges of Industry 4.0."

As is now traditional, the company presented its performance at ‘IM2020’, the international meeting that, every year, gathers together 170 of Lantek's employees from Spain and its international offices from all over the world to create a discussion forum and to take stock of the year.

The International Meeting is also the backdrop for defining business objectives that will reinforce the organisation's strategy and roadmap for the years to come, consolidating the Lantek brand as a global reference in the sheet metal sector and pioneer in the digital transformation of the market.

This edition, held at the Europa Congress and Exhibition Hall in Vitoria-Gasteiz, was particularly special as it featured renowned speakers such as Bart Farrell, talent manager for VeGlobal, trainer and technological disseminator. It took place over three days divided between seminars and work groups in collaboration with prestigious consulting firms such as Minsait (Indra group), Jakincode and OPE Consultores.

Digital transformation: Solutions area

In terms of business segments, the company's commitment to digitalisation is reflected by an increase of 24.7% in the Solutions division. The mission of the division is to realise the smart and digital factory implementing an integral management model for manufacturing and the company as a whole.

Looking at geographical regions, the considerable growth in this area in countries such as France, Germany, Spain, Korea, Italy and the USA, with ratios of around 35% and, significantly, up to 50% in France and Germany, is a positive sign given that these were already markets with healthy volumes.

China is full of expectations in terms of growth – a market whose sheet metal industry has firmly committed to Industry 4.0 and is becoming the driving force in the digital transformations and advanced manufacturing solutions area. This is due, in part, to the fact that in many industrial companies the software now occupies a prominent place in the digitalisation of their plants through making interconnection between systems, machines and processes possible, as well as enabling decision-making based on data.

Growth in the subscription area for updates and technical assistance is also worth highlighting as a business model, achieving growth of 16%. The drive of Lantek’s new Cloud applications and the SaaS model are favouring the deployment of this model.

One of the main reasons for the growth that the company is experiencing lies in its commitment to innovation. Last year, the sum dedicated to research, development and innovation was around €2.96 million, which constituted an increase of 15% compared to the previous year.

The aim of this investment is to launch innovative solutions in the area of advanced manufacturing, specifically for the sheet metal sector, subsequently supporting operational growth and excellence in the automotive, aeronautics, railway and naval sectors, among others.

The company develops all its innovations based on the underlying concept of extended digital transformation, consistent with creating collaborative environments for clients, suppliers and the market in order to grow as technological partners.

To this end, the company is finalising the launch of an advanced MES which bases decision-making on data analysis.

"In 2020, our strategy will focus on our clients and on the exponential growth of our installed international base, making the digital transformation of our sector a reality,” concludes Alberto López de Biñaspre.

“Lantek makes this possible with its advanced manufacturing technology and its operational excellence as a supplier of solutions and services. Our 34 years of success in the international marketplace endorses us as a reliable and ethical company and a forerunner in terms of Industry 4.0."

Lantek www.lanteksms.com/uk