LISI 2012 FINANCIAL REPORT
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Financial situation
Highlights for fiscal 2012
The Group benefited from the reconfiguration of its scope
carried out in 2011, including:
• Sales and production growth in the "Aerospace Fasteners"
division, firstly in Europe, and then with a solid continuation
during the year on the part of the American platform,
• Integration of 3 sites acquired with the Creuzet Aéronautique
group, to create the "Structural Components" division. This
resulted in the signing of major contracts on new programs
A350 - A320 Neo - LEAP, etc., significant capital expenditures
and the implementation of the Group's improvement plan,
• the consolidation of LISI MEDICAL (investments, "Lean
manufacturing", commercial deployment),
• the industrial reorganization of LISI AUTOMOTIVE under
way, with the necessary readjustment of costs. Following
the disposal of KUT (Herscheid - Germany) in May 2012,
the reorganization should continue in 2013 with the cost
reduction and recovery plan for the Puiseux (France) site and
the project to combine sites in the "nuts" business. On this
last point, an initial briefing and consultation of the Central
Works Council of LISI AUTOMOTIVE Former was held February
13, 2013. Management presented there the plan to gradually
consolidate the production of nuts on two other sites, which
would eventually imply the shutdown of the Thiant (Nord)
site.
The investment level is very significant
2012 represents a new milestone in the ambitious capital
expenditure program launched in 2010: the amount disbursed
for investments amounted to €78.4 million (vs. €64.9 million in
2011) and was mainly allocated to new product development,
productivity and quality, and to improving production
conditions. As examples, the Group has:
• extended significantly the Marmande production site for LISI
AEROSPACE Creuzet specializing in titanium products,
• kicked off the production of a new surface treatment line in
Torrance (USA) for LISI AEROSPACE Fasteners USA,
• improved the critical situation of the bottlenecks at the
Kierspe (Germany) plant for LISI AUTOMOTIVE,
• increased the capacity of certain lines and set up the
prototyping unit at Caen for LISI MEDICAL.
Social and societal information (Art. R 225-105)
Throughout the year 2012, LISI Group subsidiaries complied
with their regulatory obligations, both through the negotiation
of labor agreements and the implementation of appropriate
action plans: employment of older workers, gender equality,
disabled workers, well-being at work, profit sharing bonus.
The LISI Group Senior Management became seriously involved
at its highest levels in the areas of health, safety and the
environment. At all levels, the LISI Group has as its objective to:
• reach the level of performance excellence in the areas of
Healthand Safety, while keeping control over the occupational
hazards generated by its activities,
• make Workplace Safety a vector of continuous improvement,
including in areas that are not directly related to it.
In order to ensure and achieve this goal, LISI has adopted HSE
(Health Safety Environment) policy and organization to identify
key areas for improvement, prioritize goals, and derive the
appropriate actions. This policy and organization are based
on the international OHSAS 18001 standard (international
standard governing the management system of health and
safety at work).
In 2012, at constant scope, the number of workplace accidents
with work stoppage that involved an employee (TF0) was
reduced to 8.0 per million hours worked, or 4.6% better than
in 2011, and 13.7 for the number of work accidents with and
without work stoppage (TF1), 12.6% less than in 2011. These
constitute the best results achieved since 2005, when these
statistics were first consolidated for the entire Group.
Several of the Group's sites have had no accident with
work stoppage: Escondido (USA), Saint-Ouen l’Aumône, Lure,
Gummersbach (Germany), Vignoux-sur-Barangeon, City of
Industry (USA). Others have had no accident at all – whether
with or without stoppage – e.g. Beijing (China), Casablanca
Creuzet (Morocco), Cejc (Czech Republic), Paramount (USA),
Tangier (Morocco).
To continue on this path of continuous improvement, all
of the Group's sites should, by the end of 2013, have their
management systems for health and safety at work certified
as per the international OHSAS 18001 standard.
Finally, complementary remuneration tools have enabled some
employees, depending on the social or taxation opportunities
available, to benefit from supplementary pension schemes,
company savings plans, the performance share allocation
scheme and the profit-sharing bonus. In 2012, the LISI Group
invested more than € 4 million to enable its employees to
take advantage of these additional forms of compensation. In
addition, bonuses paid or allocated in 2012 under profit-sharing
and participation agreements amounted to over €11 million.
