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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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