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6 I
LISI 2016 ANNUAL REPORT
Indian market and a source of development for LISI AEROSPACE
in standardized products whose production in Europe or the USA
is no longer competitive. Likewise, in 2016 LISI AUTOMOTIVE
started the first production of clip parts at its Mexican site
of Monterrey and saw the takeoff of sales and profitability at
its Shanghai plant, which specializes in mechanical braking
components for parts manufacturers in China.
At the same time, all our divisions continued their efforts to
modernize their industrial facilities, as shown by the Group’s
expenditure of €120 million, or 7.6% of sales, a ratio still higher
than the historically high average of the last five financial years.
Outlook and challenges for 2017
At the beginning of 2017, growth prospects for the Group’s main
markets remain robust. Major aeronautical programs for aircraft
manufacturers and engine manufacturers are set to continue their
ramp-up; in the automotive as well as in the medical sector, many
technological projects, where our divisions are stakeholders,
should support the activity of our major customers.
In a basically favorable environment, the LISI Group continues to
invest in innovations and strategic areas such as the development
of the new “OPTIBLIND™” aeronautical assembly system, the
ramp-up of LISI AEROSPACE Additive Manufacturing in the
design and manufacture in 3D printing of mechanical parts or the
acceleration of the automation and robotization plans across the
Group’s divisions.
This context of growth through innovation and the capture
of market share makes it necessary to optimize industrial
processes and implement internal transversal programs such
as LEAP (LISI Excellence Achievement Program), E-HSE (HSE
Excellence) and COS (Controlling Operating System) on which
are based all of the Group’s synergy.
Finally, to show its confidence in the future and to express to
its shareholders recognition for their support, the Board of
Directors will propose a dividend of €0.45 per share, up for the
7
th
consecutive year and +15% higher than the previous year.
“The acquisition of the American company REMMELE Medical
Operations is one of the major events of 2016. It propels
LISI MEDICAL into the world’s Top 5 manufacturers of prostheses
and medical instruments”.
LETTER FROM THE MANAGEMENT
Ebit
in €M and in % of sales
157.5
€M
10
%
of sales
Consolidated sales
in €M
1,571.1
€M
Ebitda
in €M and in % of sales
237.1
€M
15.1
%
of sales
1,458.1
2015
1,305.6
2014
1,149.0
2013
204.1
2015
14,0%
193.2
2014
14,8%
178.9
2013
15,6%
146.5
2015
10,0%
131.7
2014
10,1%
128.9
2013
11,2%