Lantek’s revenues grow 10%, reaching 19.25 Million Euros
Lantek, the world leader in software and solutions for the sheet metal and fabrication industries, maintained its strength as an international benchmark and pioneer in the digital transformation of the sector after reaching a turnover of 19.25 million euros in fiscal year 2018, which was a 10% increase when compared to the previous fiscal year. Its client base continued to grow with 1,886 new clients increasing its total client portfolio to 21,884, in over 100 countries on five continents.
The company presented its results at the International Meeting 2019, which the company holds with its employees and distributors every year and where the previous year is assessed and the guidelines and business objectives that will mark the organization’s strategy for the next few years are presented. The strategy is geared to consolidate Lantek as a benchmark in the metalworking market.
The 2018 results reflect the consolidation of its international business, which represents 86% of the company’s revenue. The markets that progressed best last year were Germany, with 32% growth, followed by China +30.7%, where the company is number one for laser machine manufacturers, and the US with 11.3% growth. Other countries such as Spain +10.6%, France, and Italy also showed significant growth compared to last year.
“For another year running, Lantek demonstrated its international calling with very positive results in markets as competitive and digitalized as Germany, China, and the US. International projection and continuous growth in the number of clients and its product portfolio allowed the company to have sustained development, resulting in a solid financial position that allows it to take on the growth necessary to face the new challenges of Industry 4.0,” stated Alberto López de Biñaspre, Lantek CEO.
The results demonstrate that the company, which employs 244 people around the world, is on the right track. Last year the company grew by over 30 people, 16% more than the previous fiscal year.
The significant increase in personnel over the course of the last year was mainly due to the company’s strong commitment to strengthening leadership and supporting the digital transformation of the sector, as well as its expectation of greater growth in coming years.
Evolution of the product portfolio and digital transformation of the sector
With regard to business areas, there was a notable 40% increase in the Digital Transformation (Solutions) division, where Lantek accompanies its clients on the road to Industry 4.0. Its advanced manufacturing solutions offer comprehensive management of the plant and the company as a whole in a connected environment. This strong progress shows that the change is real in many markets and confirms the company’s commitment to digitalization. In this regard, countries with governmental support for initiatives associated with the fourth industrial revolution are notable. These include, once again, Germany with an increase of 94%, countries like South Korea, Poland, and France, with growth of 50%, and the US with 25% growth.
Overall growth for the business line dedicated to machinery manufacturers (Channel) was 12%. Cooperation between machinery manufacturers and Lantek consolidated and reinforced the provision of CAM-generated data for use in management systems (MES, quoting, traceability) and analytics. This drove the development of this product line so that it would be ready for an increasingly open environment which can be easily integrated, enabling Lantek to reach more partners.
The new applications offered in the digital realm included Lantek’s launch last year of several systems developed on a cloud storage and data management platform using the most modern security techniques for data protection. The cloud-based Lantek 360 suite incorporates four new solutions into Lantek’s current portfolio of products: Lantek Analytics (data analysis for in-plant decision making), Lantek iQuoting (tool for preparing quotes), Lantek MetalShop (an online metal part shop), and Lantek Control Panel (data viewing and analysis in real time). With Lantek software, sheet metal manufacturers and metalworking companies are able to improve the customer experience and establish a closer relationship with their customers, maximizing production performance and profitability.
Unwavering commitment to innovation to support the industry’s competitiveness
Throughout the events held during the International Meeting 2019, Lantek confirmed its leadership in the digital transformation of the fabrication and sheet metal industry and made clear its desire to continue its commitment to innovating and providing that innovation—realized with advanced manufacturing solutions. Its aim is to deliver these solutions to a sector that must revamp and automate its production processes in order to continue to be competitive and profitable in a hyper-connected world in which there are no borders and where success depends on one's ability to adapt.
“The industrial sector is taking on the challenge of the digital transformation. Lantek, one of the driving forces behind Industry 4.0, wants to help companies in the sheet metal and fabrication sector with digitalization, adapting to their needs and different levels of digital maturity, offering solutions to make Smart Factories a reality,” stated López de Biñaspre. “Our offer of a cloud platform responds to the challenges posed by the digital transformation, making production processes much more efficient.”
Along with the new cloud developments, another example of Lantek’s commitment to innovation is the Technological Excellence Center in Bilbao, which was inaugurated one year ago to develop Digital Transformation software projects, supplementing the corporate R&D+i center at the company’s headquarters in Vitoria-Gasteiz.
Artificial intelligence, machine learning, the cloud, IoT/IIoT, M2M, machine-to-cloud, big data, connectivity... these are the cutting-edge technologies that have been applied to Lantek’s solutions and will allow users to analyze, extract, and interpret data that will provide real value to the business and, which will help users make decisions in real time.
Last year 2.56 million euros was allocated to R&D+i investment, a figure well above the sector average, and 38% higher than the previous year. This innovative power has been focused on the launch of new advanced manufacturing solutions to support sectors such as auto, aeronautics, energy, shipbuilding, agriculture, boiler making, metal construction, steelmaking, air conditioning, metal furniture, and distribution, amongst others.
“The Lantek team will be key to maintaining our organization's leadership position. In order to achieve this we’ll need to develop a corporate culture that sets the team at the heart of its strategy, one that is able to draw potential from legacy and experience and combine it with new talent and new ways of thinking. This will allow us to achieve our mission for the next few years: to assist companies in the sheet metal sector with digitalization, making us their ideal partner in the new challenges posed by advanced manufacturing and the processes involved in converting their plants into Smart Factories,” explained López de Biñaspre.
“Innovation is part of our DNA. Without it we wouldn’t be what we are today, a multinational company united by a fundamental principle of customer orientation. This principle affords us the degree of independence and autonomy necessary to ensure that our customers are offered the most appropriate solutions, regardless of the moment in time or the level of maturity of their business,” highlighted the Lantek CEO.
Lantek has double-digit growth expectations for 2019, a complex year given the uncertainties shaking markets and causing deceleration in large global economies. “Despite that, we expect to continue growing in markets such as Germany, the US, and China while exploring new business opportunities. At the same time we will be advancing in the development and improvement of advanced manufacturing solutions, offering services with a great deal of added value and quality,” said López de Biñaspre.
“We are going to continue to focus on improving our customers’ competitiveness and doing so by anticipating their needs with proposals that allow them to be more efficient and profitable in the digital ecosystem. In addition, we are working on new maintenance, training, and consulting policies as well as new project management processes,” concluded the Lantek CEO.
Lantek is a multinational which is leading the digital transformation of companies in the sheet metal and metal industry. With its patented manufacturing intelligence software, it enables factories to be connected, turning them into Smart Factories. It rounds off its range of services with CAD/CAM/MES/ERP solutions for companies that manufacture metal parts from sheet metal, tubes and profiles using any cutting technology (laser, plasma, oxycut, waterjet, shearing andpunching).
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 20,000 customers in over 100 countries and 20 own offices in 14 countries, it has an extensive network of distributors with an international presence. In 2017, its international business contributed to 86% of its revenue.