Lantek increases its turnover by 9.6%, reaching $23 million
Feb 20, 2020
Digital Transformation solutions top performance, nearing 25% of growth
CINCINNATI - Feb. 20, 2020 - PRLog -- Lantek has disclosed its economic results from last year, reflecting a steady growth rate. In 2019, turnover reached $23 million, an increase of 9.6% over 2018. This growth secures Lantek's position as the leading software developer and advanced manufacturing solution provider for the metal and sheet metal sector.
A Spanish multinational, Lantek employs over 200 people worldwide. It leads its sector through innovation and a commitment to internationalization. The number of active clients increased notably in 2019, by 1,900 new users. By doubling its normal growth rate, Lantek reached a total of 23,700 clients across more than one hundred countries. In the US, the client base rose to over 900.
Lantek's international business constitutes 86.3% of turnover. The countries with the greatest significance include the USA, Germany, Italy, France, and China. Each continues to be a strategic market. An increase of 30% has been achieved in both South Korea and France. Germany attained a notable increase of 26%. Mexico, Turkey, and Poland also increased turnover exceeding double-digit growth.
"For yet another year, we've registered close to double-digit growth and record sales figures. This demonstrates the stability of our business and our international projection. It reflects the tremendous growth of our installed client base, portfolio of products, and solutions. This grants Lantek sustainable development. Achieving a solid financial position allows us to face the growth implied by the new challenges of Industry 4.0," confirms Alberto López de Biñaspre, Lantek CEO.
The company presented its performance at the "IM2020," the annual International Meeting that gathers 170 global attendees from Lantek's employees and suppliers. IM2020 is a discussion forum that takes stock of the year. It is also the backdrop for defining business objectives that reinforce the organization's strategy and road map for years to come.
The three-day event took place at the Europa Congress and Exhibition Hall in Vitoria-Gasteiz. It featured guest speakers such as VeGlobal Talent Manager, Bart Farrell, a renowned technology event organizer. IM2020 seminars and work groups included prestigious consultants such as Minsait (Indra group), JAKINCODE and OPE Consultores.
Digital Transformation Solutions
The company's commitment to digitalization has been reflected with an increase of 24.7% in the Digital Transformation solutions division. The mission is to realize Smart & Digital Factory while implementing an integral management model for manufacturing and the company. Growth of 16% in subscriptions for updates and technical assistance is also worth highlighting. New Cloud applications and the SaaS model drive the deployment of this model.
An extremely positive sign is the considerable growth in markets that already had significant volume. This includes geographical regions like France, Germany, Spain, Korea, Italy and the USA with ratios near 35%, some reaching 50% (France and Germany). China is full of great expectations in terms of growth. The Chinese metal industry has firmly committed to Industry 4.0 and is becoming the driving force for the Digital Transformation and Advanced Manufacturing Solutions area. In many industrial companies, Lantek software has come to occupy a prominent place in the digitalization of their plants. It interconnects their systems, machines, and processes, and supports decision-making based on data.
Lantek's commitment to innovation is one of the main reasons for the growth the company is experiencing. Last year, the investment in R&D and Innovation was around $3.2 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. Lantek's focus on the metal sector subsequently supports operational growth and excellence in the automotive, aeronautics, railway, and naval sectors, among others.
The company develops its innovations under the concept of extended digital transformation. This is consistent in creating collaborative environments with clients, suppliers, and the market in order to grow as technological partners. Hence, the company is launching an advanced Manufacturing Execution System (MES), basing decision-making on data analysis.
"In 2020, our strategy will focus on our clients and on the exponential growth of our installed international base. We'll make the digital transformation of our sector a reality, based on the most advanced manufacturing technology and operational excellence as a solutions and services supplier. Our 34 years of activity on the international market endorses us as a forerunner in Industry 4.0," concludes Alberto López de Biñaspre, Lantek CEO.
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About Lantek Sheet Metal Solutions
Lantek is a multinational that is leading the digital transformation of companies in the sheet metal and metal industry. With its patented smart manufacturing software, it enables factories to be connected, turning them into Smart Factories. It rounds off its range of services with CAD, CAM, MES, and ERP solutions for companies that manufacture metal parts from sheet metal, tubes, and profiles using any cutting technology (laser, plasma, oxycut, waterjet, shearing and punching). Lantek's U.S. Headquarters is in Mason, OH.
Founded in 1986 in the Basque Country (Spain), one of the main European hubs of machine tool development, Lantek enables the integration of sheet metal and metal processing technologies using the most advanced manufacturing management software. The company is currently the outstanding leader in its sector thanks to its capacity for innovation and commitment to internationalization. With more than 23,700 customers in over 100 countries and 20 offices in 14 countries, it has an extensive network of distributors with an international presence. In 2018, its international business contributed to 86% of its revenue.
For more information, visit: www.lantek.com/us
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