The LISI Group has posted organic growth of over 10% for the third consecutive year with significant progress in its financial indicators, in line with its objectives

•  Revenue reached a record level of €1,794.0 M, up 10.0% on 2023, reflecting in particular the strong momentum of all segments of the aeronautics market;

•  EBIT stands at €115.0 M, exceeding that of 2023 by €24.3 M. The current operating margin improved by + 0.8 points to 6.4%;

•  Free Cash Flow is largely positive across the Group's three divisions and stands at €57.7 M;

•  The Group strengthens its financial position to 2.3x EBITDA and reduces its net debt by €12.6 M compared to 2023 post the Public Share Buyback Offer.

Future outlook:

•  The sustained growth expected in the aeronautics industry should mitigate the consequences of certain possible jolts in the automotive industry;

•  Objective: continued improvement of the reference financial indicators based on constant macroeconomic assumptions.

LISI AEROSPACE

•  Record sales of €1,030.1 M (2023: €838.9 M) supported by strong activity across all segments of the aeronautics market;

•  EBIT at €85.7 M (2023: €50.2 M), up for the third consecutive year, driven by the improvement in industrial productivity after the phase of strong recruitment and the impact of inflation on sales prices;

•  Free Cash Flow tripled compared to 2023 (€20.8 M in 2024 compared to €7.0 M in 2023) in a context of significant growth and persistent difficulties in the raw materials supply chain.

LISI AUTOMOTIVE

•  The division's revenue amounts to €579.7 M, down - 5.0% on 2023, penalized by the drop in global production of the division's main customers (- 7.5%);

•  The current operating margin is holding up and stands at 3.0% of sales, benefiting from actions to reduce fixed costs and the refocusing of the portfolio towards products with higher added value;

•  Free Cash Flow is positive for the ninth consecutive year, the division once again demonstrating its ability to quickly adapt working capital requirements to activity levels.

LISI MEDICAL

•  Revenue consolidates in 2024 at €185.3 M (+ 1.8% on 2023) after two years of growth of over 20%;

•  EBIT at €16.3 M is down compared to 2023, penalized by one-off items;

•  For the second consecutive year, the level of Free Cash Flow reached one of its highest historical levels (€6.7 M) with CAPEX expenses remaining high.

OUTLOOK

The aeronautical development plan will drive the Group's growth with excellent long-term visibility. Medium-term uncertainties related to the evolution of the global automobile market or, in the shorter term, to the consequences of the strike in H2 2024 at Boeing in the United States could weigh on the dynamics of improving LISI's performance.

The Group carefully monitors the application of customs duties, not only upon entry into the United States, but also in other geographies where it operates. At this stage, the vast majority of activity would not be affected, but it could be penalized if certain exemption systems previously in force were to disappear.

In an environment where inflationary pressures are dwindling and assuming a constant exchange rate and a limited impact of customs duties implemented by the United States, the Group aims to improve its benchmark financial indicators for the third consecutive financial year, including EBIT, and to resume generating positive Free Cash Flow.