In 2020, sales reached 21.3 million euros, slightly higher than the figure recorded in the previous financial year. As a result, the Spanish multinational, a key player in software development and digital factory solutions and pioneer in the digital transformation of the fabrication and sheet metal sector, has consolidated its position in the international market.
The company said efforts of more than 220 Lantek employees worldwide in adapting to the new situation, and the confidence of customers have both contributed to an increase in revenues at the end of the year, showing a clear upward trend for 2021.
During the toughest quarter of the year, with confinement measures affecting many of its international offices, the company suffered a contraction in sales of 10.4%, only to rebound as measures eased and sales returned to pre-pandemic levels.
In the last quarter, Lantek achieved a 6% increase in turnover. In December 2020, the company billed €2.1 million, an increase of 9.9% compared to December 2019, resulting in a very positive year-end compared to previous years.
The company also achieved a record figure in terms of the number of active users, with a significant increase during the year. In 2020, the company gained 2,247 new customers, bringing the total to 25,747 distributed across more than a hundred countries. In the Iberian Peninsula, the user base exceeds 2,500.
The overseas market continues to increase its important share of global sales and now accounts for 88% of Lantek's revenues. By region, the impact of the pandemic was felt more in Europe, where the mobility restrictions imposed by governments were more severe than in other areas. As a result, Europe made slower progress.
However, in recent months Western Europe has regained some traction with increases of over 10% in Turkey and particular growth in Italy, one of the countries that has been most impacted by Covid-19, with increases of close to 10%.
Other continents are showing robust growth, such as Asia, with South Korea growing by more than 25% and China by nearly 20%; and the Americas, where the USA is up 7% after winning new customers with major solutions and projects. The UK market continued its growth path and adapted well to remote working with online training, support, commercial presentations and ERP installations being particularly successful.
"We have closed a really complex year, but we have been able to adapt, respond and mitigate it. Our activity has not stopped, and productivity has increased; already in the last part of the year our strong order book and maintenance contracts have helped us decisively recover lost ground and end 2020 with a turnover above that of 2019.
"The figures demonstrate our collective effort to recover from this shock, both on the part of employees and partners. They also show our great ability to adapt to changing and uncertain environments while continuing to assist our customers on their path to digital transformation," said Alberto Lopez de Biñaspre, CEO of Lantek.
Digital activity
Proof of Lantek’s ability to support remote working was the launch of Lantek v2020 under the slogan "Never stop Manufacturing". This new version was prepared to deal with this contingency by virtualizing the work of teams and allowing customers to continue using Lantek solutions wherever they might be.
Likewise, Lantek’s Solutions Division, focused on the Digital Factory and advanced manufacturing, finalizing the evolution and launch of two relevant offerings for sheet metal and metal fabricators. Lantek Analytics and Lantek iQuoting, two operational services hosted in the Cloud environment under the SaaS model. The goal is to help companies make better decisions based on the analysis of current and historical manufacturing and customer data.
With Lantek Analytics, manufacturers can substantially improve their productivity and efficiency to compete in an Industry 4.0 environment, anticipating responses and prospecting for new business. With Lantek iQuoting, customers will be able to generate quotes with greater speed and accuracy.
Innovation is in the company's DNA. Last year, the R&D&I area invested 2.4 million euros to develop solutions in the field of advanced manufacturing, specific to the sheet metal sector and directly related to automotive, aerospace, railroad and shipbuilding activities, amongst others.
Outlook for 2021
The second half of 2020 marked a turning point, and between October and December, Lantek resumed its upward trend. This growth was accompanied by the incorporation of more professionals into its technical teams for MES, CAD/CAM and Cloud solutions.
"We start this new year prepared and confident. Our teams are ready to take on the challenge, to continue to grow and implement the solutions that the industry needs," said the CEO.
New office in Bilbao
Lantek has also recently opened a new Centre of Excellence in Bilbao, with offices located in the iconic Iberdrola Tower. With the opening of the new office, which is in addition to Lantek's headquarters in the Álava Technology Park, the company boosts its strategic investment in the Basque Country.
In this way, it is committed to attracting talent specialized in STEAM (Science, Technology, Engineering, Arts and Mathematics) to Bilbao, a city that is a global benchmark in the transformation of its industrial and technological fabric.
This new Lantek Center of Excellence will be staffed by at least 40 professionals, mainly from the fields of engineering, physics and mathematics. New professionals will be added to the current team in the coming months to respond to the needs of growth at Lantek, the industry it serves and the company's strategic commitment to the digitization of the industrial sheet metal sector.
