Lantek revenue grows 10%, reaching $22.2 Million

CINCINNATI - April 2, 2019 - PRLog -- Lantek Sheet Metal Solutions, a global pioneer in the digital transformation of companies in the sheet metal and metal industries, announces fiscal 2018 revenue growth of 10%, reaching $22.2 million. The user base grew by 1,886 new clients, increasing their portfolio to 21,884 in over 100 countries.

The results reflect the consolidation of its international business, which represents 86% of the company's revenue. The US was one of the most progressive markets worldwide with 11.3% growth. Other countries such as Germany, China, Spain, France, and Italy also showed significant growth compared to last year.

"For another year running, Lantek demonstrated its international calling with very positive results in markets as competitive and digitalized as Germany, China, and the US," stated Alberto López de Biñaspre, Lantek CEO. "International projection and continuous growth in clients and portfolio allowed the company to have sustained development. We obtained a solid financial position which allows us to take on the growth necessary to face the new challenges of Industry 4.0."

Company employment grew by over 16% in 2018, demonstrating they are on the right track. The significant increase in personnel was largely due to a strong commitment to strengthening leadership and supporting the digital transformation of the sector. Lantek expects greater growth in coming years.

Evolution of the product portfolio and digital transformation of the sector
There was a 40% increase in the Digital Transformation Solutions division, where Lantek accompanies clients on the path to Industry 4.0. Lantek advanced manufacturing solutions offer comprehensive management of the plant and company in a connected environment. This progress shows that the change is real in many markets and confirms the company's commitment to digitalization.

New digital applications include Lantek's recent launch of several solutions developed on a cloud storage and data management platform using the most modern security techniques for data protection. The cloud-based Lantek 360 suite incorporates four new solutions into Lantek's current portfolio of products: Lantek Analytics (data analysis for in-plant decision making), Lantek iQuoting (tool for preparing quotes), Lantek MetalShop (an online metal part shop), and Lantek Control Panel (data viewing and analysis in real time). With Lantek software, sheet metal manufacturers and metalworking companies improve their customer experience and maximize production performance and profitability.

Unwavering commitment to innovation to support the industry's competitiveness
"The industrial sector is taking on the challenge of the digital transformation. Lantek, one of the driving forces behind Industry 4.0, wants to help companies in a sector as traditional as sheet metal and metalworking. We offer digitalization, adapting to their needs and different levels of digital maturity, to make Smart Factories a reality," stated López de Biñaspre. "Our cloud platform responds to the challenges posed by the digital transformation, making production processes much more efficient."

Along with the new cloud developments, another example of Lantek's commitment to innovation is the Technological Excellence Center in Bilbao, which opened one year ago to develop Digital Transformation software projects. Last year $2.9 million was allocated to R&D+i investment, a figure well above the sector average, and 38% higher than the previous year. This innovative power has been focused on the launch of new advanced manufacturing solutions to support various sectors.

2019 Outlook
Lantek has double-digit growth expectations for 2019, a complex year given the uncertainties shaking markets and causing deceleration in large global economies. "Despite that, we expect to continue growing in markets such as the US, Germany, and China while exploring new business opportunities," added López de Biñaspre. "Lantek will advance in the development and improvement of advanced manufacturing solutions, offering services with a great deal of added value and quality."

"We'll continue to focus on improving our customers' competitiveness by anticipating their needs with proposals that allow them to be more efficient and profitable in the digital ecosystem. In addition, we're working on new maintenance, training, and consulting policies as well as new project management processes," concluded the Lantek CEO.

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About Lantek Sheet Metal Solutions

Lantek Sheet Metal Solutions pioneered Industry 4.0 solutions for the Sheet Metal Fabrication Industry.  Their solutions include CAD/CAM Nesting, MES, ERP and they specialize in integrating software for Smart Factories. Lantek is globally headquartered in the Basque Country of Spain. Having over 30 years of experience, Lantek supports more than 20,000 customers in 100 countries. Lantek has offices in 14 countries. Lantek's U.S. Headquarters is located in Mason, OH.