Lantek revenue reaches $21.7 million, an increase of 11%

Growth was driven by Lantek's Digital Transformation business, which increased sales by 25%
By: Lantek Systems, Inc.
Lantek Sheet Metal Solutions
Lantek Sheet Metal Solutions
VITORIA-GASTEIZ, Spain - Feb. 15, 2018 - PRLog -- Lantek, world leader in digital transformation and Advanced Manufacturing for the sheet metal industry, reinforces its position as an international benchmark by recording 11% growth in revenue and reaching a milestone number of customers. In 2017 revenue reached $21.7 million. Lantek added 2,000 new customers in 2017, exceeding the level of 20,000 active customers in over 100 countries on five continents.

The company presented its results this month at the annual Lantek International Meeting. The results highlight the strength of the company's international business, which accounts for 86% of total revenue. Significant progress is apparent in markets with high potential such as China (+67%) where Lantek is already the leader for laser manufacturers, and the US (+47%) where digitalization initiatives have existed for some time. Lantek also found that in countries such as Spain, France, Italy and Poland companies took advantage of governments grants awarded to businesses that opt ​​for digitalization.

"This has been a very positive year," stated Alberto Martínez, CEO of Lantek. "We have reached most of the objectives we set, which demonstrates the trust that our customers have placed in Lantek. Our commitment is to work ever closer with them on the road to their digital transformation."

Digital Transformation

A 25% increase in sales over 2016 is due largely to Lantek's Digital Transformation projects. This proves that Lantek was wise to commit in recent years to the development of Industry 4.0 solutions for the sheet metal and fabrication sector. As a result, Lantek will offer a new advanced manufacturing service using MES+ software and Lantek Analytics, which will enable better factory performance through data analysis.

"We have committed ourselves to developing advanced manufacturing solutions that connect machines, processes and factories. This facilitates the digital transformation process which is so necessary for our customers today. All these developments aim at turning factories into Smart Factories and improving the competitive positioning of our customers in their sector," remarked Martínez.

This firm commitment to technology associated with Industry 4.0 has made Lantek a pioneer in the digitization of sheet metal companies. It is apparent in Spain, where the company has achieved 14% growth in its Digital Transformation business. It expects to reach 26% in 2018. In Germany Lantek expects a significant growth of 78% in digitization projects in 2018, since it is a prepared market and has government support for business initiatives linked to Industry 4.0.

Regarding investments, in the past year the company allocated $2.2 million to R&D, implementation teams and project development. Worthy of note is the opening of a new technological center in Bilbao employing 10 engineers. In 2017 Lantek hired 30 professionals in all departments, increasing the staff to over 200 people across 19 global offices.

The sectors in which Lantek has consolidated its global presence are industrial machinery, shipyards, automotive industry, duct parts, metal constructions, iron and steel industry, elevators, air conditioning, metallic furniture and distribution.

Forecast for 2018

Lantek forecasts 2018 growth higher than 2017 due to a significant increase in orders, notably those related to digital transformation projects. These projects will boost revenues towards a new milestone, reaching $24 million in invoicing.

"This year we plan to launch several products focusing on advanced manufacturing. These products will consolidate our strategy as a driving force in the digital transformation of our sector and will help the sheet metal and fabrication market adapt to the new changes required by Industry 4.0," concludes Alberto Martínez.

About Lantek

Lantek is a multinational company which is leading the digital transformation of companies in the industrial sector of sheet metal and fabrication. It offers its own software solutions in business manufacturing intelligence, which enable connecting the plants thereby converting them into smart factories. It rounds off its range with the development of CAD/CAM/MES/ERP solutions for companies that manufacture metal parts from sheet metal,  tubes and profiles, with any cutting technology:laser, plasma, oxycut, waterjet, shearing,and punching.

Founded in 1986 in the Basque Country and with its headquarters in Vitoria-Gasteiz (Álava) and US offices in Mason, OH, Lantek enables the integration of cutting and punching technologies in the plant using the most demanding 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 clients in over 100 countries and its 20 own offices in 14 countries, it has an extensive network of distributors with a worldwide presence. In 2017, its international business contributed to 86% of its revenue.

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