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A MODEL OF

SUSTAINABLEGROWTH

LETTER FROM THE MANAGEMENT

Gilles KOHLER

Chairman of LISI

Emmanuel VIELLARD

Chief Executive Officer of LISI

Another year of increased earnings

Driven by sustained economic conditions in itsmainmarkets, the LISI Group's

sales in 2017 amounted to EUR 1.64 billion, up 4.6% over the previous year,

including 3.6%organic growth, which remains themain vector of the Group's

development.

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