LISI GROUP - Integrated report 2022

INTERVIEW Lionel Rivet CEO, LISI MEDICAL AIMING FOR EXCELLENCE What can we learn from 2022? We can now say that COVID is behind us. The medical market has regained a fairly clear growth momentum. We benefited from the resumption of surgical activity, the commercial successes of our main customers who took market share, as well as a movement to replenish stocks, even though it varies from one contractor and from one product family to another. In 2022, LISI MEDICAL’s activity benefited from this rebound, growing by 24% over one year. On a like-for-like basis, we have reached a level of production 10% higher than what we had before the crisis. What were the market determining factors? As for all industrial sectors, our immediate economic environment was marked in 2022 by a high level of inflation, both in the United States and in Europe. This movement impacts all of our production costs as well as wages. It should continue into 2023 due to soaring energy prices in Europe. Discussions have been initiated on these issues with our customers and should continue on energy. In the current context of overall reduction in healthcare costs, this inflationary dynamic further increases pressure on prices. Uncertainties remain as to the ability of contractors to pass through these increases to health organizations, hospitals and end customers. This is possible in the United States, but it seems unlikely in Europe where prices are regulated and pressure on prices is greater. LISI MEDICAL 67 LISI – 2022 INTEGRATED REPORT