The LISI Group achieved sales of € 309.4 million in Q1 2021, down - 22.2 % compared to 2020
Sales for Q1 2021 are down 22.2 % compared to the same period of the previous fiscal year.
The global COVID-19 pandemic has further weighed on the Group's activity in varying proportions depending on the divisions:
- LISI AEROSPACE: - 38.5 %, the "Fasteners" business, which had benefited from a good level of sales in Q1 2020, is the most severely affected
- LISI AUTOMOTIVE: + 2.9 %, in line with the positive trend observed since the second half of 2020
- LISI MEDICAL: - 15.1 %, although sales are down, the outlook benefited from well oriented business.
At € 309.4 million, consolidated sales for Q1 2021 were down 22.2%. It takes the following factors into account:
- an unfavorable foreign currency effect of - € 10.1 million (i.e. - 3.2 % of sales), linked to the weakening of the US dollar against the euro,
- a scope effect of - € 4.5 million (i.e. - 1.5 % of sales) reflecting the deconsolidation of LISI AUTOMOTIVE Mohr + Friedrich GmbH on June 26, 2020 and LISI MEDICAL Jeropa in the United States on January 11, 2021,
- an unfavorable basis of comparison compared to Q1 2020 which was marked by the first effects of the COVID-19 crisis only in March 2020.
On a like-for-like and constant exchange rate basis, consolidated sales dwindled by - 18.8 % over the first three months of the year.
It is still too early to show any certainty as to the expected recovery, but the upturn in order books in certain aeronautical activities, as well as strong commercial activity in the automotive and medical divisions, are encouraging first signs.
As previously announced, and barring a relapse in the global economic context, the LISI Group confirms its objectives of achieving current operating income in 2021 at least equal to that of 2020, positive net income and a good level of Free Cash Flow.