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LISI 2016 FINANCIAL REPORT
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LISI MEDICAL is involved in the design, manufacturing and marketing phases of all above-mentioned products.
LISI MEDICAL positions itself as a subcontractor.
The main raw materials used are the following: titanium, chromium, cobalt, plastic (PEEK, PEHT), etc.
The main technologies used are: lathing, milling, forging, packaging under sterile conditions, laser marking and special processes.
2
I
GROUP ACTIVITY FOR THE FINANCIAL YEAR AND OUTLOOK
FOR THE COMING YEAR
2.1
I
LISI CONSOLIDATED
At €1,571.1 million, consolidated sales revenue for the 2016 financial
year was up +7.8% and take into account the following positive elements:
–
–
A scope effect of €50.1 million corresponding to:
–
–
the contribution by LISI MEDICAL Remmele consolidated as
of May 1, 2016 for €44.9 million, i.e. 2.9% of the consolidated
sales revenue;
–
–
the retroactive consolidation at January 1, 2016, of the Indian
company Ankit Fasteners at +€5.2 million of sales revenue,
in which a majority interest was taken;
–
–
Gains in market shares with new products in all divisions.
Expressed at constant rates and scope, the change of +4.6% in sales
revenue marked by an acceleration between the first half-year (+3.6%)
and the second (+5.6%). The trend effect is the same in the three
divisions which show a positive organic growth for the whole year.
Comments regarding business of the fourth quarter
LISI consolidated
Of which
LISI AEROSPACE
Of which
LISI AUTOMOTIVE
Of which
LISI MEDICAL
Q1
388.0
248.5
120.9
18.7
Q2
406.2
254.2
122.8
29.4
Q3
379.9
235.7
109.5
34.8
Q4
397.1
248.8
112.0
36.3
2016
1,571.1
987.2
465.3
119.1
The fourth quarter was fairly dynamic in the three divisions, with
overall organic growth of +4.4%.
The fasteners segment in Europe stood out in the LISI AEROSPACE
division Europe (+14.3%) thanks to the implementation of new
contracts. The “North American fasteners” part recorded an overall
reduction in sales revenue but saw an increase in orders from Boeing
at the end of the financial year, an initial improvement after several
months of substantial decreases due to the re-organization of the
aircraft manufacturer’s supply chain. The “Structural components”
segment also recorded a good level of activity driven by the build-up
of new programs. The net currency effects amounted to –€1.4 million.
In the LISI AUTOMOTIVE division, sales increased quite rapidly during
the second half-year after a lackluster start to the year (+1.1% at HY1,
+3.8% at HY2) in a dynamic European market. The increase in sales
revenue is particularly significant in the clipped solutions and the
mechanical safety components segments carried by the gains in
market shares and the build-up of new products.
The LISI MEDICAL division benefited from the integration of
LISI MEDICAL Remmele on May 1 (sales revenue of €44.9 million over
the period). At a constant scope, the sales revenue increased by +0.4%
with a last quarter more sustained at +2.8%.
FINANCIAL SITuaTION
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