The LISI Group achieved consolidated sales of € 923 million in the first nine months of 2020, with an uptick in sales between Q2 (- 45.9%) and Q3 (- 30.4%) driven by the Automotive division
• LISI AEROSPACE : - 30.1% on a cumulative basis, - 41.4% in Q3, compared to - 39.4% in Q2
• Lower demand for "Fasteners" in Europe and North America in Q3,
• "Structural Components" segment still adversely affected by the double effect of the COVID-19 crisis and the suspension of the Boeing B737-Max production,
• LISI AUTOMOTIVE : - 29.1% on a cumulative basis, - 14.3% in Q3, compared to - 60.1% in Q2
• Significant recovery in activity in Q3,
• Firm resilience of high added value "Safety Mechanical Components" and "Clipped Solutions" segments confirmed thanks to new market share gains,
• LISI MEDICAL : - 19.2% on a cumulative basis, - 21.5% in Q3 compared to - 32.2% in Q2
• Demand still marked by significant volatility due to the global health crisis.
At € 923.4 M, consolidated sales for the first nine months of 2020 are down by 28.9% and take into account the following factors:
• a 30.4% decline in activity in Q3, reflecting an improvement compared to the previous quarter (- 45.9%) which saw the closures of almost all the sites of the Group's main customers from March 15, 2020,
• at the end of September, a scope effect of - € 45.2 M (i.e. - 4.9% of sales) reflecting the disposal:
• of the screws, chassis studs and ball joints segment by LISI AUTOMOTIVE Former of the Saint-Florent-sur-Cher unit on November 29, 2019,
• of 100% of the shares of the German subsidiary LISI AUTOMOTIVE Mohr + Friedrich GmbH on June 26, 2020,
• of the companies Indraero Siren and LISI AEROSPACE Creuzet Maroc, effective since June 30, 2019,
• an unfavorable foreign currency effect of - € 0.9 M, linked to the weakening of the US dollar against the euro.
On a like-for-like and constant exchange rate basis, consolidated sales decreased by - 26.4% in the first nine months of the year.
In a global economic environment still marked by the sanitary and economic crisis with a low short-term visibility, the Group confirms the objectives it announced in the first half:
- refocusing on high added value business,
- cost reduction measures which will have an impact in particular on the net income in the second half of the year,
- maintaining positive operating profitability and a good level of Free Cash Flow.
Thanks to its financial strength, LISI’s strategic ambitions for medium and long-term growth remain intact.