LISI FINANCIALREPORT2013
19
FINANCIALSITUATION
2
12months endingDecember 31,
2013
2012
Changes
Keyelementsofthe incomestatement
Sales revenue
€m 1,149.0
1,081.3
+6.3%
EBITDA
€m 178.9
154.8
+15.6%
EBITDAmargin
% 15.6
14.3
+1.3pts
EBIT
€m 128.9
100.4
+28.4%
Currentoperatingmargin
% 11.2
9.3
+1.9pts
Earningsattributable toholdersof companyequity
€m 74.6
57.3
+30.3%
Netearningsper share
€
7.12
5.47
+30.2%
Keyelementsofthecashflowstatements
Operatingcash flow
€m 142.3
119.7
+18.9%
NetCAPEX
€m -87.7
-78.4
+11.8%
FreeCashFlow
1
€m 28.5
38.5
-26.0%
Keyelementsofthefinancialstructure
Netdebt
€m 67.8
76.7
-11.6%
Ratioofnetdebt toequity
10.8% 13.3% -2.5pts
1FreeCashFlow:operatingcash flowminusnet industrialCAPEXandchanges inworkingcapital requirements.
Breakdownof2013salesrevenue
Breakdownof2012salesrevenue
58%
LISI AEROSPACE
37%
LISI AUTOMOTIVE
6%
LISIMEDICAL
55%
LISI AEROSPACE
39%
LISI AUTOMOTIVE
6%
LISIMEDICAL
TodaytheGroupachievesover58%of itssalesrevenues intheaerospace
field, as against 55% in2012. Automotivebusiness representsonly 37%,
asagainst39% in2012.LISIMEDICALcontributes6% to theconsolidated
salesrevenues.
2013highlights
The investment level isverysignificant
2013marksanew stage in theambitious investmentprogram launched
in 2010: the amount spent came to €87.7M (7.6% of sales revenues), as
against €78.4M in 2012. It wasmainly allocated tomany development
projects for newproducts in the 3 divisions, aswell as for productivity,
replacement of equipment and improvement inproduction conditions,
andwasbrokendownas follows:
n
€52.3m in the LISI AEROSPACEdivision (increased capacity: extension
Izmir site, new products in Marmande, strengthening industrial
facilities in Europe, surface treatment in the USA, and the large
diametercellatDorval),
n
€32.1m in the LISI AUTOMOTIVE division (renewal of machinery and
productivityprograms),
n
€3.1m intheLISIMEDICALdivision (installingnewtechnologies).
Socialandsocietalinformation(Art.R225-105)
n
Throughout the year 2013, LISI Group subsidiaries complied with
their regulatory obligations, both through the negotiation of labor
agreements and the implementation of appropriate action plans:
employmentofolderworkers,genderequality,disabledworkers,well-
beingatwork,profitsharingbonus.
n
The LISI Group SeniorManagement became seriously involved at its
highest levels in the areas of health, safety and the environment. At
all levels, the LISI Group has as its objective tomake environmental
friendlinessandworkplacesafetyavectorofcontinuous improvement
and to reach the level of performance excellence in these areas,
while keeping control over theoccupational hazards generatedby its
activities.
