Message from the management
LISI Group experienced an unprecedented situation during the 2021 financial year with a further decline in activity, which was nevertheless limited (-€66 million compared to 2020), to achieve sales of €1,163.9 million. On the other hand, we have shown strong resilience by posting financial results in line with our set targets (with our main financial indicators improved compared to 2020).
During the financial year, the LISI Group operated in an environment still disrupted by the COVID-19 pandemic, the main effects of which materialized in sharp increases in the cost of raw materials (steel and plastics), an overall increase in the cost of consumables production and transport costs, and finally local tensions in the job markets against a backdrop of gradual recovery in global economic activity.
In that specific context, the LISI Group continued to deploy the New Deal plan implemented as of the first months of the crisis.
The LISI Group will still have to meet many challenges in 2022, such as absorbing inflation on manufacturing costs and the ability to increase volumes and in particular to hire in a tight labor market.
At the same time, it will need to ensure the continued development and ramp-up of new products in its strategic business niches.
Subject to a preserved health and economic context, the LISI Group should return to organic growth in its activity in 2022 and continue to improve its main financial indicators.
The robustness of our financial position was maintained thanks to the mobilization of our teams, who continued to vigorously deploy our New Deal global adaptation plan.”
Chief Executive Officer, LISI
Strengthening our strategic activities
The robustness of our financial position was maintained thanks to the mobilization of our teams, who continued to vigorously deploy our New Deal global adaptation plan. We have thus strengthened our strategic positioning in our high value-added activities – with the disposals of Jeropa (LISI MEDICAL, United States) and LACE (LISI AEROSPACE, France), and the acquisition of B&E Manufacturing (LISI AEROSPACE, United States).
Our objective is to continue moving forward to achieve a leading position, among the top 2 or 3 worldwide in each segment, in each Business Group.
And that is why we transform all existing market opportunities into organic or external growth.
Strengthening our CSR commitments
To meet the challenges of tomorrow, we will continue to promote collective and individual commitment to have a positive economic, social, and environmental impact. This approach is at the heart of our vision and we have been striving to apply it for a long time.
We are therefore relying on the will and the entrepreneurial spirit of our employees, on the loyalty of our shareholders, the demands of our customers, the support of our suppliers, and the trust of our banking partners.
Despite the new difficulties emerging with the conflict in Ukraine, the LISI Group is not directly exposed, with no production site or significant activity in the countries directly involved. Nevertheless, certain supplies, particularly titanium, may come from Russia and affect certain aircraft production lines. In close collaboration with its customers, the Group is studying all options to mitigate this risk and our confidence in the future remains positive. With all the efforts undertaken, the Group’s ability to rebound is intact.