LISI RAPPORT ANNUEL 2009
A very
wait-and-see market
Environment &prospects
A YEAR OF CONSOLIDATION
The deterioration in the economic climate,
which resulted in massive destocking
operations and the return of part of
production to our clients, impacted
on our subcontracting activities. The
decrease in our sales revenue corresponds
to the decline experienced by the market
in 2009.
24.0
18.7
While the fundamental demographics remain sound and confirm an outlook of significant
growth in the medical devices market, activity in the sector took a wait-and-see attitude
throughout 2009. The general slowdown in the economy, destocking operations and a
return of part of production to our clients, for whom we operate as subcontractors, have
severely impacted on the market. The subcontracting sector registered a decline of 25% in
2009 compared to the previous year, which automatically affected our sales revenue.
A new regulatory environment
In addition, there was a tightening of the regulatory environment in the orthopaedic
components sector. All operators in the market were quickly obliged to adapt to the new
regulations. The levels of technological management and quality requirements demanded
of subcontractors have been considerably increased, necessitating substantial efforts, both
in industrial and technological terms.
LISI MEDICAL has nevertheless continued to refine its experience curve and strengthen
it production capacities. The purchase in hand of Stryker Benoist-Girard, the site of the
American Stryker Corporation in Basse Normandie is part of this approach. It should enable
us to acquire a higher level of expertise and increase our production capacity in new
specialized growth areas.
2008 2009
Sales revenue in €M
43
