Industry News

LISI Group reported 2016 sales at €1.57 billion up 7.8% on 2015. The results include a €45 million contribution over 7 months from the incorporation of LISI Medical Remmele. Organic growth was 4.6%. EBIT increased by €11 million (+7.5%) to €157.5 million.

LISI Aerospace saw strong growth in Europe from the implementation of new contracts. The North American fasteners business unit, however, suffered an overall drop in sales but saw an increase in orders from Boeing towards the end of the year. Overall, LISI Aerospace sales rose 5.9% to €987.2 million.

LISI Automotive sales grew 2.5% to €465.3 million, accelerating in the second half following a lacklustre start to the year in a strong European market. EBIT improved 1.7 points to €7.9 million.

LISI Medical benefited from the integration of LISI Medical Remmele on 1^st May 2016, which contributed €44.9 million for the period. Overall sales rose to €119.4 million. At constant scope, and exchange rate, growth was 0.4%. EBIT improved 2.3 points to 7.8%.

LISI says confirmation of recovered sales to Boeing will be critical to compensate for the probable slowdown in European fastener business – following the peak caused by the initial phase of the Airbus A350 programme.

LISI Automotive is targeting a sustainable improvement to its operating profitability, mainly through gains from the LISI Excellence Achievement Program and through already high-levels of investment in robotics and automation.

Repositioning towards higher added value product, which started in 2016, is also expected to contribute continuous improvement to the division’s operating margin.