Financial situation
1
2
22
I
LISI 2014FINANCIALREPORT
ActivitysummaryatDecember31,
12months endingDecember 31,
2014
2013
Changes
Keyelementsofthe incomestatement
Sales revenue
€M 1,306.5
1,149.0
+13.7%
EBITDA
€M 193.2
178.9
+8.0%
EBITDAmargin
% 14.8
15.6
-0.8pt
EBIT
€M 131.7
128.9
+2.2%
Currentoperatingmargin
% 10.1
11.2
-1.1pt
Earningsattributable toholdersof companyequity
€M 81.4
74.6
+9.0%
Netearningsper share
€
1.55
1.42
1
+9.2%
Keyelementsofthecashflowstatements
Operatingcash flow
€M 140.8
142.3
-1.1%
NetCAPEX
€M (90.6)
(87.7)
+3.3%
FreeCashFlow
2
€M 45.6
28.5
+60.0%
Keyelementsofthefinancialstructure
Netdebt
€M 181.2
67.8
x2.7
Ratioofnetdebt toequity
25.6%
10.8% +14.8pts
1Earningspersharerestatedafterdividingthe facevalueby5 in2014.
2FreeCashFlow:operatingcash flowminusnet industrialCAPEXandchanges inworkingcapital requirements.
Breakdownof2014salesrevenue
Breakdownof2013salesrevenue
58%
LISI AEROSPACE
37%
LISI AUTOMOTIVE
6%
LISIMEDICAL
Highlightsforfiscal2014
■■
Mainly specializing in the forging of metal parts for aerospace
applications, theManoirAerospacehasbeenconsolidatedsince June5,
2014 intoLISIAEROSPACEwith theaimof strengthening theStructural
Componentsarmwiththe integrationofcomplementarytechnologies.
■■
Toa lesserextent,oneshouldnote inJune2014, theacquisitionof100%
of the control LISIAUTOMOTIVEShanghai, ofwhichaChinesepartner
held25%previously.
Social and societal information (Art. R 225-105 of the Commercial
Code)
Throughout the year 2014, LISI Group subsidiaries compliedwith their
regulatoryobligations,boththroughthenegotiationoflaboragreements
and the implementation of appropriate action plans: employment of
older workers, gender equality, disabled workers, well-being at work,
profitsharingbonus.
The LISI Group Senior Management became seriously involved at
its highest levels in the areas of health, safety and the environment.
At all levels, the LISI Grouphas as its objective tomake environmental
friendliness andworkplace safety a vector of continuous improvement
and to reach the level of performance excellence in these areas, while
keepingcontrolovertheoccupationalhazardsgeneratedby itsactivities.
In order to ensure and achieve this goal, LISI has adoptedHSE (Health
Safety Environment) policy and organization to identify key areas for
improvement, prioritize goals, and derive the appropriate actions. This
policy and organization are based on the international OHSAS 18001
standard (international standardgoverning themanagement systemof
healthandsafetyatwork).
Attheendof2014, thefrequencyrateof lost-timeaccidentsthat involved
anemployee(TF0) improvedsignificantlyto7.4permillionhoursworked,
a progress of 29% compared to 2013. The frequency rate of accidents
withandwithoutstoppage (TF1) stoodat 12.3,asignificantdropof -24%
comparedto2013.
60%
LISI AEROSPACE
34%
LISI AUTOMOTIVE
6%
LISIMEDICAL
