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Activity summary at December 31
12 months ending December 31
2017
2016
Changes
KEY ELEMENTS OF THE INCOME STATEMENT
Sales revenue
€ million
1,643.4
1,571.1
+4.6%
EBITDA
€ million
256.2
237.1
+8.0%
EBITDA margin
%
15.6
15.1
+0.5 pt
Current operating profit (EBIT)
€ million
171.4
157.5
+8.9%
Operating margin
%
10.4
10.0
+0.4 pt
Earnings attributable to holders of company equity
€ million
108.0
107.0
+0.9%
Net earnings per share
€
2.04
2.02
+1.0%
KEY ELEMENTS OF THE CASH FLOW STATEMENTS
Operating cash flow
€ million
203.8
195.8
€8.0 million
Net CAPEX
€ million
(140.1)
(119.6)
€+20.5 million
Free cash flow*
€ million
46.3
73.5 €-27.2 million
KEY ELEMENTS OF THE FINANCIAL STRUCTURE
Net debt
€ million
300.2
218.2 €+82.0 million
Ratio of net debt to equity
33.4%
25.2%
+8.2 pts
* Free Cash Flow: operating cash flowminus net capital expenditure and changes in working capital requirements.
Breakdown of 2017 sales revenue
LISIAEROSPACE
LISIAUTOMOTIVE
LISIMEDICAL
8%
31%
61%
Breakdown of 2016 sales revenue
LISIAEROSPACE
LISIAUTOMOTIVE
LISIMEDICAL
8%
29%
63%
Headcount at the end of December
As at December 31, 2017, the LISI Group employed 11,958 employees, an
increase of the total workforce of 371 people (including 452 people at
TERMAX), which represents a difference of +3.2%compared to 2016.
2017
2016
Difference N/N-1
LISI AEROSPACE
7,251
7,386
-135
-1.8%
LISI AUTOMOTIVE
3,773
3,265
+508 +15.6%
LISI MEDICAL
909
915
-6
-0.7%
LISI Holding
25
21
+4
+19.0%
Group total
11,958
11,587
+ 371
+3.2%
Temporary workers
1,159
1,156
2017 Financial results
Current operating profit increased by €14 million, bringing the
operating margin to 10.4%, an improvement of 0.4 points.
EBITDA was €256.2 million, an increase of +8.0% (€+19.1 million), and
represented 15.6% of sales revenue. Current operating profit (EBIT)
increasedby€13.9million(+8.9%)to€171.4milliondespiteanunfavorable
currency effect of €-5.3million. The operatingmargin reached 10.4%. Its
increaseof0.4pointsfrom2016 is in linewiththeGroup’sobjectivesgiven
the changes in its business mix.
This performance is attributable to an improvement in the operational
quality of all of theGroup’s activities. The contributionof theproductivity
gains from LEAP (LISI Excellence Achievement Program), the gradual
re-orientation of the activities of the automotive division towards
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LISI 2017 FINANCIAL REPORT
FINANCIAL SITUATION
2