Sharp increase in activity in H1 2023 in an inflationary environment that weighs on results

•  Organic growth supported by dynamic markets and price increases in the Group's three lines of business

•  Results affected by the lag between increases in production costs and their impact on selling prices in the aerospace industry

•  High working capital requirements, given strong business growth combined with tight aerospace supplies

•  Annual targets subject to the favorable outcome of price negotiations with the Group's major customers

•  Public Share Buyback Offer initiated by the Group a success:

    •  Forward float reinforced

    •  Managerial and shareholder continuity assured

    •  Group's strategic ambitions pursued


•  Strong ramp-ups across all segments of the aerospace market

•  Results penalized by the lag between the impact of inflation and the sales price increases billed to customers

•  Industrial productivity deteriorated due to the difficulty in recruiting qualified personnel

•  Strongly negative Free Cash Flow, reflecting the increase in work in progress to respond to the significant increase in activity in a context of tensions in the supply chain


•  Business sustained by the ramp-up of new products for the electromobility market and the impact of inflation on sales prices

•  Market share gains maintain their momentum

•  High positive Free Cash Flow with a drop in raw material inventories

LISI MEDICAL (11 % of total consolidated sales)

•  Excellent commercial momentum always stimulated by new products

•  Double-digit operating margin driven by increased volumes and cost structure improvement actions

•  Positive Free Cash Flow despite significant capital expenditures


In line with expectations, 2023 annual sales will be up sharply. The Group relies on sound fundamentals and is positioned in growth markets with high order books for new products across its three divisions. As such, it remains confident in its ability to gradually return to a level of performance in line with its normative objectives corrected for the inflation effect over the next half-year.

The Group continues to aim for an increase in the main financial indicators in absolute value, conditioned by the favorable outcome of the commercial negotiations in progress, and positive Free Cash Flow with the reduction of inventories as a priority objective.

A worldwide company specializing
in the design and manufacture
of assembly solutions

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Sharp increase in activity in H1 2023 in an inflationary environment that weighs on results

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sales revenue in 2022


industrial sites
expanded in 13 countries

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