In a year of recession, Lantek closes 2020 with record sales figures and customer numbers
By: Lantek Systems, Inc.
Lantek USA achieved nearly 9% growth in revenue in 2020. Over half of new U.S. customer revenue was from Smart Factory solutions (MES & ERP). More than 150% revenue growth was realized through their Distributor/
The efforts of more than 220 Lantek employees worldwide in adapting to the new context and the confidence of customers have both contributed to the increase in revenues at the end of the year, showing a clear upward trend for 2021.
During the toughest quarter of the year, with confinement measures affecting many of its international offices, the company suffered a contraction in sales of -10.4%, only to rebound as measures eased and sales returned to pre-pandemic levels. In the last quarter, Lantek achieved a 6% increase in revenue. In December 2020, the company billed 2.1 million euros, an increase of 9.9% compared to December 2019, a very positive year-end.
The company also achieved a record number of active users. In 2020, the company gained 2,247 new customers, bringing the total to 25,747 distributed across more than a hundred countries.
The overseas market continues to increase its significant share of global sales and now accounts for 88% of revenues. By region, the impact of the pandemic was felt more in Europe, where the mobility restrictions imposed by governments have been more severe. As a result, Europe is slowing down its progress. However, in recent months Western Europe has regained some traction with increases of over 10% in Turkey and close to 10% growth in Italy, one of the countries most impacted by COVID-19.
Other continents are showing robust growth, such as Asia, with South Korea growing by more than 25% and China by nearly 20%; and the Americas, where the USA is up about 9% after winning new customers with major solutions and projects.
"We've closed a really complex year, but we've been able to adapt, respond and mitigate it. Our activity has not stopped, and productivity has increased. Already in the last part of the year, our strong order book and maintenance contracts have helped us decisively recover lost ground and end 2020 with a turnover above that of 2019. The figures demonstrate our collective effort to recover from this shock, both on the part of employees and partners, and our great ability to adapt to changing and uncertain environments to continue assisting our customers on their path to digital transformation,"
The second half of last year marked a turning point, with Lantek resuming its upward trend between October and December. The growth includes the addition of more professionals into the technical teams of Lantek's MES, CAD/CAM, and Cloud solutions areas. "We start this new year prepared and confident. Our teams are ready to take on the challenge, to continue to grow and implement the solutions that the industry needs," says Lantek's CEO.
About Lantek Sheet Metal Solutions
Lantek is a multinational leading the digital transformation of companies in the sheet metal and metal industry. With its patented smart manufacturing software, it enables factories to be connected, turning them into Smart Factories. It rounds off its range of services with CAD, CAM, MES, and ERP solutions for companies that manufacture metal parts from sheet metal, tubes, and profiles using any cutting technology (laser, plasma, oxycut, waterjet, shearing, and punching). Lantek's U.S. Headquarters are in Mason, OH.
For more information, visit: www.lantek.com/