The LISI Group posted sales of more than € 1.2 billion in the first nine months of 2018, stable compared to the previous year (-0.8%) in a complex economic environment
LISI AEROSPACE: - 9.4% in the first nine months and - 0.6% in Q3
Confirmation that the economic environment remains difficult:
- Slowdown in the "Europe Fasteners" segment
- Very sustained ramp-up of new programs in the "Structural Components" segment
- Encouraging signs of recovery in the business jets and helicopter segments
LISI AUTOMOTIVE: + 18.5% in the first nine months and + 12.8% in Q3
- Organic growth down - 2.8% in Q3, a collateral consequence of the new anti-pollution standards and of the Worldwide Harmonized Light Vehicle Test Procedure (WLTP) for automotive manufacturer customers, effective from September 1, 2018, and of the US/China trade war
- Strong contribution from Termax, the US company acquired in October 2017
LISI MEDICAL: - 6.5% in the first nine months and + 9.3% in Q3
- Rebound driven by ramp up of new products in the "Minimally Invasive Surgery" segment and good performance of the "hips" segment
While in the medium-to-long term, the growth prospects of all the divisions of the LISI Group remain robust, the third quarter of 2018 confirms the complexity of the challenges in the short term. Adjustment measures will be maintained in the two largest divisions and will continue to weigh on profitability in the coming months.
The Group thus maintains the targets announced with the half-year results: the operating margin is expected to show a marked decline compared to 2017, while Free Cash Flow should be once again largely positive.