June 14, 2023

Ayesa achieves a turnover of 649 million in 2022 after an intensive year of acquisitions

At the end of 2022, Ayesa, a global provider of technology and engineering services, recorded a turnover of 649 million euros.

This figure reflects a 130% growth rate compared to the consolidated figures of 2021, which surpasses the investment plan to double revenues, achieving it in record time, some four years ahead of schedule.

The results reveal a solid organic sales growth of 8.6% compared to the previous year, even when those companies acquired in 2022 are incorporated into the group figures: Ibermática, ByrneLooby, and M2C.

In respect of margins: EBITDA has risen to 50.2 million euros, compared to 24 million euros in 2021.

While international activity remains a significant strength for the group, its overall contribution to total revenue has reduced due to the integration of Ibermática, which focuses on the domestic market. As a result, the percentage of foreign turnover currently stands at 31%. However, in specific sectors, such as engineering, the proportion remains notably high, surpassing 70%.

There have been some changes in the geographical distribution of revenues due to the strategy to balance foreign operations and focus on Anglo-Saxon markets. Driven by the successful acquisition of ByrneLooby Engineering in the UK and Ireland and the continued growth of Ayesa Poland in transportation and renewable energy systems, Europe now accounts for the top position with 15% of total revenue. In Latin America, over the past two decades, Ayesa has been expanding with operations in nine countries, so that revenue accounts for 9% of the total. The remaining areas of the world, including the Middle East and Asia (particularly India), collectively contribute 6.6%.

It is worth noting that all regions have experienced positive year-on-year growth rates.

Jose Luis Manzanares, CEO of Ayesa, highlights that “we have experienced a transformational year through M&A operations that have placed us in a privileged position within the IT and engineering world to continue contributing our knowledge to our clients.”

Along with this, he points out that “In 2023, our primary focus will be on enhancing our market positioning, both domestically and internationally. As regards the latter, we are actively seeking new opportunities in the markets where we already have a presence, with particular emphasis on the USA. Our goal is to surpass a turnover of 700 million euros by the end of 2023.”

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