8 March 2023
Lleida.net increases sales by 15% in 2022 and exceed 20 million euros, in its best earnings results to date
Madrid, 8 March - The technology services company Lleida.net (BME:LLN) (EPA:ALLLN) (OTCQX:LLEIF) increased its sales by 15 per cent 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, except for contracting, which has been affected by the economic cycle. T
The company, a European leader in the Registered electronic signature, notification, and contracting industry, recorded a rise in its gross margin of 15 per cent over the previous year, or €1.42 million over 2021. The figure stood at €10.78 million as of 31 December. The gross margin stood at 59 per cent 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 per cent, or 368,000 euros, due to a significant increase in personnel and the accelerated recruitment of technical and commercial talent 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 per cent over the previous year to 8.62 million euros, part of which corresponds to the loans signed for the acquisition of the InDenova technology company.
During the year, however, long-term and short-term debt were reduced, representing a reduction in total debt of 17 per cent, 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 per cent.