LISI Group (LISI AUTOMOTIVE) Business Report FY2009

Business Highlights

Financial Overview

(in million euros)
  FY2009 FY2008 Rate of change(%)  Factors
Group
Sales 695.0 844.2 (17.7) -
EBIT 34.1 98.9 (65.5) -
Automotive Division
Sales 310.4 385.8 (19.5) 1)
EBIT (15.5) 14.0 - -

Factors
1)
Automotive Division
-This financial year shows a new pattern, related to vehicle registration changes, with the first quarter down 17%, the second quarter down around 5%, then the third quarter recovery of 4%, rising to an 18% rise in the last quarter of 2009, thanks to government incentive schemes. All European countries followed this pattern, with the exception of two areas: Eastern Europe was down 27% and Spain down 18%.

-The Germany Business Group suffered the most from the very late recovery of BMW and Daimler, as well as from Volkswagen's drastic stock decrease. Business Group France was down 11%, and the major parts manufacturers down 19%. On the other hand, activity in China shows 60% growth to over 12m euros.

-New product developments slowed down, although the division saw a slight rise in research towards the end of the period. Annual sales revenue generated from new products represents 9.5% of 2009 sales, as compared with an average of over 12% for the last three financial years.

R&D

R&D Expenditure

(in million euros)
  FY2009 FY2008 FY2007
Group 16.5 15.5 15.0
% of sales revenue 2.4% 1.8% 1.8%

Investment Activities

Capital Expenditure

(in million euros)
  FY2009 FY2008 FY2007
Automotive 20.4 21.1 20.4

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