LISI Group has announced that its Q1 2021 sales were €309.4 million, down 22.2% compared to the same period the previous year – with the global Covid-19 pandemic impacting the Group’s activity in varying proportions depending on each LISI division: Aerospace, Automotive or Medical.
At €139.4 million, LISI Aerospace’s sales are down -38.5% compared to the same period in 2020 with a lesser decline in March (-15.2%). The ‘Fasteners’ segment experienced the strongest contraction, with the adverse effects of an unfavourable basis of comparison. Indeed, Q1 2020 still benefited from a sustained level of activity.
The ‘Structural Components’ segment, which had been the most severely affected in Q1 2020, suffered a more moderate decline in Q1 2021. The month of March even posted an increase of 18.7 % compared to the same month of the previous year and the order books show a clear recovery ahead.
At €140.3 million, LISI Automotive division’s sales rose by 2.9% compared to the same period the previous year. This increase takes into account the scope effect linked to the sale of its German subsidiary LISI Automotive Mohr + Friedrich GmbH in June 2020. The ‘Clipped Solutions’ and ‘Safety Mechanical Components’ segments displayed the most sustained growth, which are benefiting from the ramp-up of new products ,as well as the upturn in activity in China and sustained demand in Germany.
On the other hand, the ‘Threaded Fasteners’ segment suffers from the gradual decrease in combustion engines, which has not yet been fully compensated by the ramp-up of new products currently being industrialised (multi-material assemblies, electric motor drive screws, etc). Nevertheless, these are gradually asserting themselves as a real source of growth for this activity.
At €29.8 million, LISI Medical division’s sales for the quarter were down 15.1% compared to the same period the previous year. The decline is due to an unfavourable base effect with Q1 2020 little impacted by the Covid-19 crisis and by the scope effect linked to the sale of LISI Medical Jeropa in the United States in January 2021.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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