LISI Group has achieved sales of €449.3 million in Q1 2024, up 12.5% compared to 2023. LISI AEROSPACE finished up 26.4% compared to the same period of last year, with LISI AUTOMOTIVE and LISI MEDICAL finishing down 1.2% and 6.9% respectively.
LISI AEROSPACE sales totalled €252.5 million at the end of the first quarter. Sales for Q1 in the ‘Fasteners’ business in Europe increased by 26.9% and in the US was up 22.7%, making it the strongest performer in the first quarter of 2024.
The ‘Structural Components’ business benefitted by the strong demand across the aerospace sector as a whole, with robust global air traffic levels resulting in strong aerospace market activity across all industry segments.
LISI AUTOMOTIVE’s annual revenue amounted to €157.3 million by the end of the first quarter 2024, down 1.2% on the same period the previous year. First quarter revenue was down by 0.6%, when adjusted for currency effects and excluding scope effects, which should be seen in the context of the 5.4% downturn in production for the division’s client base.
The structural change in the market is both technological and geographical with Chinese manufacturers, with whom LISI AUTOMOTIVE is forging relationships, taking market share. New product orders remain buoyant and largely follow the rapid developments in electric vehicle technology (powertrain and related systems) and new generation braking systems.
Finally, LISI MEDICAL’s sales revenue reached €39.7 million at the end of the first quarter 2024, down 6.9% on the same period in 2023 when it was at 27.7%. In addition to this negative base effect comparison, there was a one off adjustment to inventory levels. Manufacturing was also hit by a lack of raw materials. Sales revenue fell by 6.7%, when adjusted for exchange rate variations and excluding scope effects.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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