Lantek increases its turnover by 8% in 2008

Last year, 74% of Lantek’s turnover originated in the international market, with countries such as China, Poland, Mexico and Turkey recording double digit growth. Overall the company’s user base grew significantly, with 13% more new customers.

Goals for 2009 include boosting the company’s activity in the South-East Asian region, India and Latin America. In addition, it will be continuing with its policy of investing around 20% of its turnover in research and development.

Lantek, world leaders in the development and marketing of comprehensive CAD/CAM and ERP solutions for the sheet metal sector, reported its financial results for 2008. At its annual International Meeting on the Álava Technology Park, Lantek’s board of directors welcomed senior managers from its 19 company offices around the globe to make the announcement.

For 2008, Lantek’s turnover grew to 10.89 million euros, representing an increase of 8% over the 2007 figures. These positive results have been echoed by an increase of 22% in the number of professionals employed by the multinational since the beginning of 2008. Staff levels now stand at 217, up from 180 in 2007.

During the recently closed financial year, Lantek achieved an increase in its client base in the 90 countries where it is represented. The current figure of over 9,000 customers represents a 13% improvement over 2007.

“We are satisfied with the results obtained in 2008, even more so when we consider that this financial year has been marked by the economic crisis, which has resulted in many companies exercising caution and postponing projects,” said Alberto Martínez, Manager of Lantek Sheet Metal Solutions. “The effort made by our team and their constant desire for improvement has enabled the company to continue its successful path and consolidate its position as a world leader in its sector.”

International markets

26% of Lantek’s business originated from Spain, which continues to be a highly dynamic market, and where new contracts made up 6% of the 2008 figures.

The remaining 74% of turnover came from Lantek’s international business, which is in line with the company’s continued strategy of commitment to international expansion. The countries which recorded the highest growth rates were Italy, Germany, Poland, the Middle East, Mexico and Turkey. The success in many of these countries reflects the high levels of new business recorded by them in 2007

2008 saw Lantek consolidating its business in the markets it has recently entered, either by opening a subsidiary company or by working with a network of partners and distributors. These have been particularly important in the development of its Chinese and Middle Eastern business and the successes achieved there.

To reinforce its international strategy, Lantek took part in a total of 18 international and national machine tool sector events. These have been an excellent showcase for the company to display its new developments and to create synergies and business opportunities.

Research & Development investment

Investment in research and development played a major role in 2008. Over 2 million euros were invested during the year, in an area where Lantek always spends around 20% of its turnover, regardless of the state of the sector or the economy. The company is set to continue with its RDI policy in 2009, maintaining its faith in the value of developing and improving its solutions and services by concentrating on functional, operational and quality enhancements.

Alberto Martínez explained, “We are committed to investing in the future. This is an ideal time to develop innovative new solutions, and we are investing heavily in new technology that will help companies in the sheet metal sector to be more competitive and efficient. This is particularly important now, in view of the difficult economic climate. Lantek’s philosophy is to innovate, even in times of crisis, as it enables us to continue to offer world beating solutions and increase our market share.”

Goals for 2009

Aware of the difficult global trading situation that many industries are facing in 2009, Lantek has set realistic turnover goals for the coming year, but ambitious targets for increasing and consolidating its international market presence.

To achieve these aims, Lantek is reinforcing the financial and human resources earmarked for boosting its activities in emerging markets. Specifically, it is expecting double digit growth in India, Latin-America and the Asiatic regions during 2009.

As part of its international business strategy, it will be building on the successes achieved through its offices worldwide, and concentrating on developing new markets. The company is creating a new business structure for its South-East Asian region.

Product development is continuing at a rapid pace, and Lantek is focusing on the promotion and marketing of the forthcoming 2009 versions of its sheet metal, profile cutting, punching and ERP systems. It will also be encouraging its customers to participate in its extensive training programme, to enhance their user experience and to maximise the return they can get from their investment in machinery and software. New engineers are to be recruited to further improve the company’s CAD/CAM, ERP and Flex3D software and to provide additional resources for product maintenance, thereby offering customers increased added-value and even better after sales service.