Industry News

LISI Group achieved consolidated sales of €923 million in the first nine months of 2020, with an uptick in sales between Q2 (-45.9%) and Q3 (-30.4%) driven by the automotive division.

Third quarter consolidated sales were €286.7 million, down 30.4% on the same quarter in 2019, but up 20% quarter-on-quarter. On a like for like and CER basis, LISI Aerospace’s Q3 sales were down by 39.6% at €137.5 million compared to the same period of the previous year. This decline is amplified by the deconsolidation of Indraero Siren and LISI AEROSPACE Creuzet Maroc, which represented a decrease in sales of €28.7 million.

The ‘Fasteners’ segment of LISI Aerospace, which had enjoyed good momentum before the Covid-19 pandemic, posted a -34.7% sales decline in Q3 compared to the same period of the previous fiscal year. In North America, markets outside commercial aviation (business, military, and helicopters) could not offset the collapse in demand for commercial aviation.

At €121 million, the quarterly sales of the LISI AUTOMOTIVE division recovered to -14.3% compared to the same period of the previous year, after the -60.1% drop recorded in Q2. In the first nine months of the year, they were -29.1%, compared to a decline in global production of 27.9% over the period under review.

The high value-added ‘Safety Mechanical Components’ and ‘Clipped Solutions’ segments of LISI Automotive are the most resilient in the Covid-19 crisis. They are supported by the gradual ramp-up of new products intended for electric, hybrid and plug-in hybrid vehicles, whose market share has more than doubled in one year in Europe (7.5% in Q2 2019: 16.8% in Q2 2020).

At €28.4 million LISI MEDICAL sales were down 21.5% compared to the same period in 2019 – a positive effect compared to the 32.2% decline observed in Q2. On a like for like and CER basis the Q3 sales were down 17.9% and 18.8% for the first nine months of the year.