May 26, 2022

Ayesa reaches EUR322 million in sales following the acquisition of M2C and ByrneLooby

Ayesa, a global provider of technology and engineering services, achieved a consolidated turnover of EUR282 million in 2021, an 11% increase compared to the previous year.

This achievement has seen the company return to double-digit growth and is the biggest increase in five years.

Following the acquisition of the technology firm M2C and the Irish engineering company ByrneLooby in the first quarter of this year, the group’s sales now exceed EUR322 million.

Significant progress has also been made in terms of profitability. As such, over 2021, the group’s EBITDA reached EUR24 million, compared to EUR22 million in 2020. With M2C and ByrneLooby, this figure is now around EUR30 million. 

Ayesa’s two lines of business have followed this upward trend. In terms of its technology services, which now represent 55% of its total turnover, revenue rose by 8%. Over the period 2020-2021, the area continued to increase its presence throughout Spain through major public-sector digital services contracts and also diversified its project portfolio abroad, particularly in utilities.

As far as the group’s engineering services go, revenue rose by 15% thanks to major contracts in Spain, India, Poland, Colombia and Mexico.

In tems of the geographical distribution of the group’s revenue, 47% now comes from abroad. Its performance in Europe, which is responsible for 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 in excess of EUR500 million, has been outstanding. In addition to organic growth, we are implementing a strategy based on acquisitions. So far, we have purchased M2C and ByrneLooby, although in the coming months we will be acquiring further 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’.

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