02/22/2024

The LISI Group posts organic growth of 15.5% for the second consecutive year and achieves its financial objectives in 2023

•  Sales revenue reached €1,630.4 M (+ 14.4% compared to 2022), driven by sustained organic growth identical to that of 2022 (+ 15.5%) and increases in sales prices in the Group's three lines of business;

•  At €90.7 M, EBIT is €1.6 M higher than in 2022;

•  The operating Free Cash Flow is positive at + €22.2 M, thanks to the strong performances of the LISI AUTOMOTIVE and LISI MEDICAL divisions.

•  Future outlook:

  •  The Group should benefit from the positive dynamics of the various Markets in which it is well positioned;

  •  In an environment where inflationary pressure is expected to subside, the Group aims to improve its key financial indicators: EBIT and Free Cash Flow.


LISI AEROSPACE

•  + 17.0 % growth in sales to €838.9 M (2022: €717.3 M) driven by the increase in single-aisle production rates among the main ordering customers and the good momentum of the helicopter and military market segments;

•  Current operating profit maintained at + €50.2 M (2022: + €49.9 M) despite the inflationary context and the acceleration in recruitment which weighs on productivity;

•  Maintenance of a positive operating Free Cash Flow at + €7.0 M, in a context characterized by increased activity, high inflation on raw materials, and the continued high level of strategic stocks to secure production ramp-ups.


LISI AUTOMOTIVE

•  + 9.5 % growth in sales to €610.4 M (2022: €557.6 M) driven by the rise of new products intended for the electromobility market and the partial pass-through of inflation in sales prices;

•  Current operating profit at €21.7 M (2022: + €28.1 M) affected by the impact of inflation on all Manufacturing costs and the acceleration of recruitments, which momentarily weigh on productivity;

•  Operating Free Cash Flow up sharply to + €25.9 M thanks to the effective adjustment of the working capital requirement to the activity level;

•  Continuation of an excellent momentum in the acquisition of orders for new products, reaching a new record in 2023 at €73.0 M.


LISI MEDICAL

•  Second consecutive financial year with more than 20% growth which reached the record level of €181.9 M driven by the success of the new products launched by the division and the post-COVID rebound among the division's main customers;

•  The current operating margin exceeds 10% (11.5% of sales, or + 2.9 points compared to 2022);

•  Operating Free Cash Flow is positive (+ €8.0 M) thanks to a good adjustment of working capital requirements and after significant CAPEX.


OUTLOOK

The Group is expected to benefit from the positive momentum of various markets in which it is well positioned, thanks to the acquisition of orders for new high-value-added products and innovative solutions that meet evolving customer needs. It is thus reaping the fruits of significant innovation programs and industrial investments implemented in recent years.

The Major point of attention for the coming year will be the ability to adapt production levels to customer demand and ensure program continuity.

In an environment where inflationary pressure is expected to subside, the Group aims to improve its key financial indicators: EBIT and Free Cash Flow.

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

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02/22/2024

The LISI Group posts organic growth of 15.5% for the second consecutive year and achieves its financial objectives in 2023
 

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€1,42B
sales revenue in 2022

9,676
employees

41
industrial sites
expanded in 13 countries

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