07/23/2020

Against the backdrop of the global crisis, the LISI Group was able to adapt quickly and strengthen its financial structure in the first half of 2020

• First-half results reflect positive commercial and operational momentum up to March 15, before markets and nearly all client activity stalled in all three divisions

• Global adaptation plan deployed to ensure business continuity, prioritize protection of employees and preservation of cash flow

   • 28.2% drop in sales compared with the first half of 2019 (-46% in Q2)

   • EBITDA held up well at 13.3% compared with 14.7% in the first half of 2019, due to cost and production adjustment measures implemented from the beginning of the crisis

   • Positive current operating profit of €22.5 million, including €58.8 million of depreciation charges

   • Record free cash flow of €90 million, reflecting immediate adjustments to working capital requirements

• Increased financial stability with a €94 million decrease in net debt compared with December 31, 2019

• Continuing focus on high value-added automotive activities with the disposal of the German company Mohr & Friedrich, and the acquisition of the remaining shares in Termax (49%)

• Plan to adapt to new market conditions: NEW DEAL to prepare for the future


OUTLOOK

Despite the unprecedented current situation, the Group has proven that it can adapt while continuing to focus on its high value-added activities. This resilience is encouraging for the future as regards the Group’s ability to maintain positive profitability and generate a good level of cash surplus.

Nevertheless, the results for the current financial year should be impacted by the planned cost savings in the second half-year. The Group’s financial stability remains intact, allowing further consolidation of the value chain in its various businesses.

LISI has therefore confirmed its strategic ambition for long-term growth. The Group’s “NEW DEAL” adaptation plan will support this process, through its business relaunch and industrial rescaling phases. As it enters a phase of repositioning, it aims at adapting to the new market conditions, and to seize any opportunities that may arise.

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

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07/23/2020

Against the backdrop of the global crisis, the LISI Group was able to adapt quickly and strengthen its financial structure in the first half of 2020

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1,729€M
sales revenue in 2019

11,171
employees

48
industrial sites
expanded in 13 countries