The LISI Group announces a further increase in results for H1 2017, in line with targets
• Good overall business, year-on-year organic growth of 6.1% in the first half year
• Improved performance indicators:
o Current operating income up +17.6%, with operating margin up 0.9 point to 11.3%
o Positive Free Cash Flow at € 27.5M with sustained investment pace
At € 861.7 million, consolidated sales for the first half of 2017 increased by +8.5%, with all all divisions contributing.
LISI AEROSPACE (62% of total consolidated sales)
• Continued organic growth supported by a very dynamic European market with the ramp-up of new programs.
• First signs of recovery at Boeing began in the United States, though still at the level of 2015. Free Cash Flow was still highly positive at € 35.1 million, after a € 3.5 million increase in capital expenditure to € 45.7 million.
LISI AUTOMOTIVE (29% of total consolidated sales)
• Good trend observed in 2016 confirmed.
• Organic growth in a well-oriented European market.
• Sustained activity in the "Safety Mechanical Components" and "Clipped Solutions" segments.
LISI MEDICAL (9% of total consolidated sales)
• Strong organic growth driven by a dynamic market and the ramp-up of new customer programs.
• Continued improvements in operating margin and Free Cash Flow.
• Full year effect of LISI MEDICAL Remmele.
After this very robust first half year, the Group confirms its objective to grow its business and increase its current operating income, as well as its Free Cash Flow for 2017, with a more balanced contribution from all divisions.