Revenue grows to EUR322 million for the 2021 fiscal year for Spanish technology and engineering firm, Ayesa, driven by acquisition and solid sectoral growth
London, 26 May 2022
Ayesa, a global provider of technology and engineering services, achieved a consolidated turnover of EUR284 million in 2021, an 11% increase compared to the previous year. This achievement has seen the company return to double-digit growth with the highest increase posted in five years. In Q1 2021, Ayesa acquired Spanish technology firm M2C and UK-based engineering firm ByrneLooby, and when these revenues are included, Ayesa Group’s sales now exceed EUR322 million.
Profitability also shows significant progress. As such, over 2021, the group’s EBITDA reached EUR24 million, compared to EUR22 million in 2020. With the M2C and ByrneLooby acquisitions, this figure is now around EUR30 million.
Ayesa’s two lines of business follow this upward trend. For technology services, which represent 55% of its total turnover, revenue rose by 8%. Over the period 2020-2021, Ayesa’s technology footprint increased throughout Spain with major public-sector digital services contracts and by diversifying its overseas project portfolio, particularly in utilities.
Engineering revenues grew by 15% due to major contracts in Spain, India, Poland, Colombia and Mexico.
In respect of the geographical distribution of the group’s revenue, 47% is generated outside of the home country of Spain. Performance in Europe (excluding the domestic market of Spain), which represents 10% of its total sales, was particularly noteworthy thanks to projects in Poland and the consolidation of the firm’s position in the UK and Ireland following the acquisition of ByrneLooby.
In Latin America, the group also experienced double-digit growth (18%), and the continent is now responsible for 26% of its sales from abroad. However, other regions are becoming more and more important for the group, namely the Middle East and Asia, where this figure currently stands at 6% and 5%, respectively.
José Luis Manzanares, CEO of Ayesa, notes: ‘the management of our portfolio, which is now worth over EUR500 million, has been outstanding. In addition to organic growth, we are implementing an acquisition growth strategy So far, we have purchased M2C and ByrneLooby, although, in the coming months, we will be acquiring other companies in Spain. These results are a testimony to the success of our business plan and bring us closer to achieving our goal of doubling our turnover and consolidating our position as a leading global group in digital and engineering services.”
· Ayesa’s performance in Europe (excluding Spain, its domestic market) which represents 10% of its total sales, was particularly noteworthy thanks to projects in Poland and the consolidation of the firm’s position in the UK and Ireland following the purchase of the ByrneLooby.
· Ayesa’s technology services, for 2020-2021, posted an increase in turnover by 8% due to the provision of crucial digital transformation projects for the public and private sectors. For engineering services, turnover increased by 15% driven by significant international transportation contracts.
· When the revenues of the acquired companies are excluded, Ayesa’s consolidated financial figures still posted an 11% growth in turnover, compared to the previous year. increasing to EUR284m
Ayesa is a global provider of technology and engineering services with more than 6300 employees in 20 countries across Europe, Latin America, Africa and Asia. The company develops and implements digital solutions for the private and public sectors, and uses the latest technology to provide cutting-edge infrastructure and engineering design and supervision services.
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