LLORENTE & CUENCA Posts Revenues of 38.4 Million Euros

by | Feb 13, 2019

LLORENTE & CUENCA (LL&C), the leading consultancy firm in reputation, communication and public affairs management in Latin America, Spain and Portugal, closed 2018 with revenues from global fees of 38.4 million euros (approximately US$43.3 million). This equates to a net growth of 6 percent in comparison to the previous year. Growth stood at 10.7 percent, when excluding exchange rate depreciation seen in markets such as Argentina and Brazil.

With nine offices in Latin America, one in Miami and two LatAm desks (located in New York City and Washington, DC), LL&C’s operations in this region currently account for 60 percent of the company’s total revenue. In 2018, business volume in Latin America grew by 11 percent. Nonetheless, the currency depreciation effect in this region against the euro in 2018 led to net revenue growth of 1 percent. Meanwhile, the offices in Spain and Portugal (Barcelona, Lisbon and Madrid) posted an organic growth of 10 percent (14 percent including acquisitions).

“This year we achieved major goals from our Strategic Plan that will allow us to move forward with a clear focus on our clients,” said José Antonio Llorente, founding partner and president of LL&C. “I’m referring to the consolidation of our region-based structure in Latin America, the strengthening of our executive structure and the acquisition of Arenalia in Barcelona. To this we can add the outstanding work done by our almost 600 professionals, who have grown our clients’ businesses while positioning LL&C among the best in the world and as the leader in Spain. This growth allows us to continue betting on talent, promoting new partners and increasing our staff.”

Arenalia acquisition and stronger leadership in Barcelona

In June 2018, LL&C acquired 100 percent of the shares in the corporate and product communication consultancy firm, Arenalia, based in Barcelona.

LL&C in Barcelona heads up a highly-competitive business strengthened by the acquisition of Arenalia, which includes a team of over 50 professionals in the fields of consumer affairs, digital brand and lifestyle, with experience in the automotive industry, energy, tourism and wholesale sectors.

A more robust client-focused executive structure

In January 2019, LL&C made a number of changes to its executive structure to reinforce its commitment to a client-focused approach.

The organizational changes mainly stem from two strategic lines of action; a client-focused approach and a region-based structure. As a result, senior professionals returned to the front line and resumed their management of clients and business development. Meanwhile, Latin America was organized into three regions (North, Andean and South regions), each one with its own general management, financial and talent structure to support the local teams.

2018 leader in M&A consultancy

LL&C continues to top the ranking produced by data analysis agency Mergermarket in Spain, becoming the leading communications agency in Spain for mergers and acquisitions (M&A) based on the value of its operations in 2018. In comparison to 2017, the firm climbed from fifth to first place. At a European level, LL&C occupies the tenth position in terms of the operations for which it provided consultancy services (and 14th worldwide). In both lists, it is the highest-ranking Spanish consultancy firm.

Trust-building talent

Talent remains one of the cornerstones for the development and growth of LL&C. Evidence of this can be seen in its 10.4 percent workforce growth, in line with the company’s organic growth (10.7 percent).

Of the 182 new hires in 2018, 25 were for executive positions, with 13 of those being women. A total of 60 professionals were also promoted in 2018, 12 of them within the executive department and more than half of these were women. Women play a fundamental role at the firm, accounting for 68 percent of the workforce and almost 40 percent of executives (38 percent).

Three executives became new LL&C partners in 2018: Iván Pino, senior director of the Digital Department; Tiago Vidal, managing director, Portugal; and Óscar Iniesta, managing director of Arenalia.

The firm’s commitment to talent is reflected in its continued Corporate University expansion, which has provided a total of 930 hours of training to professionals in all categories over the course of the year. 2018 saw the start of the first cycle of the course for strong potential professionals at the company, with 12 graduates from this course in partnership with the ESIC Business School. Furthermore, LL&C joined PROMOCIONA – an initiative by the Spanish Confederation of Business Organizations (Spanish acronym: CEOE), the Women’s Institute (Instituto de la Mujer) and the ESADE Business School to foster the learning of executive skills by professional women. Finally, the number of people taking part in the Young Talent Program rose to 98 globally, in 2018. This program was launched in 2017 and is designed for young hires who recently joined the firm.

For the fifth year straight, LL&C has been included in the exclusive “Best Companies to Work for in Spain” ranking by Actualidad Económica. Currently in 49th place, it is the only communication consultancy firm to be found on the list.

Consumer Engagement and recognized creativity

LL&C’s commitment to creativity and finding the most innovative solutions led to 74 awards at international and regional events.

The Consumer Engagement Department’s creative work earned two gold awards and one bronze award at the 2018 Effectiveness Awards for the “Conde Mor” and “Amodio” projects for its client, Campofrío; the 2018 Brand Film Festival London awarded five gold awards to the projects led by the Consumer Engagement and Impossible Tellers Department for the brand films entitled “La máquina de tiempo” for Electium of Grupo Mémora, “Nueva Bureba” for Campofrío and “¡A escena!” for Obra Social “la Caixa.”

For the third straight year, LL&C led the ranking by El Publicista for consultancy firms and communication agencies most highly-valued by Spanish advertisers. Seven out of 10 considered LL&C as the best option when tackling a communication, reputation or public affairs challenge.

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