LISI GROUP - Integrated report 2020

LISI — 2020 INTEGRATED REPORT 41 The deployment of the Controlling Operating System (COS) program has been severely disrupted by the advent of COVID-19. However, the crisis has played a catalytic and accelerating role in spreading economic awareness to all levels of the organization. Here again, the Group has demonstrated a great capacity for adaptation and resilience thanks to the agility of its management processes. Preserving financial balances A rapid and appropriate response was indeed provided at each site. These measures – workforce adjustment, lower fixed costs, inventory optimization, recovery of trade receivables, etc. – have made it possible to preserve and even strengthen the Group’s major financial balances. A pillar of the NEW DEAL plan, the COS program also actively facilitates the Group’s adaptation to new market conditions while ensuring its growth, so as to capture the opportunities that may arise in the various markets in which LISI operates. All of the actions undertaken in the Resizing COS PROGRAM OPTIMIZINGMANAGEMENTPROCESSES plan component (see page 31) are therefore fully in line with the framework and objectives of the COS program. The latter has demonstrated its robustness and the relevance of its content in a complex and volatile environment. Apillar of theNEWDEAL plan, the COS program also actively facilitates theGroup’s adaptation to newmarket conditions.