02/18/2021

Against a backdrop of global crisis, the LISI Group has achieved its short-term structural adjustment objectives and posted a record Free Cash Flow in 2020

• Sales amounted to € 1,230.0 M, down - 28.9 % compared to 2019, marked by differing dynamics in each of its three divisions;

• Strong resilience of the main management indicators between H1 and H2 despite the decline in activity in the LISI AEROSPACE division thanks to the implementation of the NEW DEAL plan (adaptation of costs, cash management and preservation of the sales momentum):

   - satisfactory EBITDA at € 166.7 M (13.6 % of sales, 13.8 % in S2);

   - positive EBIT at € 41.5 M (3.4 % of sales);

   - record Free Cash Flow at € 109.4 M;

   - renewal of strategic contracts and focus on strategic niches thanks to the success of new products;

• Significant impact of non-current charges related to disposals of non-strategic assets, i.e. LISI AUTOMOTIVE Mohr und Friedrich and LISI MEDICAL Jeropa, and of costs and provisions related to workforce adjustment plans on net income, which stands at - € 37.3 M whereas no indication of impairment has been identified on the Group's accounting assets;

• Outlook:

   - ability to recover preserved in 2021 thanks to structural measures;

   - maintenance of strategic medium and long-term growth ambitions;

   - resilience that should enable the Group to achieve, except further deterioration in the economic context of the sectors in which it operates, EBIT in the range of 2020, positive net income and generate satisfactory Free Cash Flow.


LISI AEROSPACE

• Sales: € 663.4 M, down - 33.4 % compared to 2019;

• Service continuity to customers ensured by maintaining business and refocusing on high added value products;

• Implementation of the NEW DEAL plan (adaptation of costs, cash management and preservation of the sales momentum) from the very first days of the crisis;

• Excellent gross operating surplus: € 109.1 M (16.4 % of sales) reflecting the adaptation of costs to declining business;

• EBIT positive: € 37.8 M (5.7 % of sales);

• Free Cash Flow: € 78.0 M (11.8 % of sales, i.e. a gain of 3.2 points in one year).


LISI AUTOMOTIVE

• Sales down - 23.3 % to € 451.2 M, marked by a sequential increase between H1 and H2 and the deconsolidation of 2 non-strategic operations for 4.0 %, i.e. - € 22.1 M;

• Implementation of the NEW DEAL plan (adaptation of costs, cash management and preservation of the sales momentum) from the very first days of the crisis;

• Return to a clearly profitable current operating income in H2, bolstered by resuming business in the second part of the year and the lowering of the breakeven point (- 19.0 % compared to 2019);

• Record annual Free Cash Flow of € 27.5 M (6.1 % of sales);

• Continuation of the refocusing strategy with the sale, on June 26, 2020, of 100 % of the shares in the German subsidiary LISI AUTOMOTIVE Mohr und Friedrich GmbH (sales of € 14.8 M in 2019) and the purchase of the remainder (49 %) of TERMAX shares on June 30, 2020.


LISI MEDICAL

• Sales down - 20.5 % compared to 2019;

• High volatility in customer demand as early as the first months of the COVID-19 crisis;

• Implementation of the NEW DEAL plan (adaptation of costs, cash management and preservation of the sales momentum) from the very first days of the crisis;

• EBIT at breakeven;

• Free Cash Flow positive, increased by € 1.7 M compared to 2019;

• Disposal on January 11, 2021, of LISI MEDICAL Jeropa (sales of $ 10.5 M in 2019), the effects of which were recognized as of December 31, 2020.


The LISI Group is entering 2021 with a preserved ability to rebound thanks to structural adaptation measures that its strong mobilization enabled it to implement from the start of the health crisis. LISI maintains intact its strategic ambitions for medium and long-term growth by relying on financial robustness which has been further strengthened despite the scale of the crisis. Such resilience is encouraging for the future and should enable the Group to achieve, unless there is further deterioration in the economic context of the sectors in which it operates, EBIT in the range of 2020, positive net income and generate satisfactory Free Cash Flow.

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

View the LISI introduction video

02/18/2021

Against a backdrop of global crisis, the LISI Group has achieved its short-term structural adjustment objectives and posted a record Free Cash Flow in 2020

Read more

1,729€M
sales revenue in 2019

11,171
employees

48
industrial sites
expanded in 13 countries