LISI Group (LISI AUTOMOTIVE) Business Report FY2010

Business Highlights

Financial Overview

(in million euros)
  FY2010 FY2009 Rate of change(%)  Factors
Sales  776.7 695.0 11.8 -
EBIT  49.5 34.2 44.7 -
Automotive Division
Sales  401.3 310.4 29.3 1)
EBIT  25.1 (15.5) - -

Automotive Division
-The Company's strong 29.3% growth in sales revenue took totals to 401.3m euros, close to the 2007 record (407.1m euros), and is down to two factors:
• changes in consolidation scope as of April 1, 2010 with the inclusion of the two newly-acquired Acument Group sites. These two factories contributed up to 34.6m euros, i.e. 8% of growth;
• the right level of divisional customer production. Business activity showed similar growth rates of +49.7% in China, +25.8% in Germany, +18.2% including international parts manufacturers, and +16.9% in France.


-The Company announced that it laid the cornerstone of the new Lisi Automotive factory, named "DELLE 2" in Delle, France. This facility will concentrate the activities of inspection, sorting, packaging, storage and dispatching for fastener manufacturing facilities in the French cities of Delle and Dasle. (From a press release issued in May, 2010)


-The Company has finalized the agreements with US-based Acument Global Technologies about taking over its automotive fastener plants located in France (Val de Marne and Orne). These two plants generated sales revenues of about 40 million euros in 2009. (From a press release on March 29, 2010)


-Lisi Automotive Knipping, which is based in the German city of Kierspe, announced that it has been awarded Supplier Excellence Award 2010 from ThyssenKrupp Presta France S.A.S. (From a press release issued in February 2011)

-The Company announced that it has been awarded a Quality Award from PSA. This award was given in recognition of the company's involvement in the development of the new EB engine, a 3-cylinder petrol engine that is expected to go into production early in 2012. (From a press release issued in October, 2010)


R&D Expenditure

(in million euros)
  FY2010 FY2009 FY2008
Group 18.4 16.5 15.5
% of sales revenue 2.4% 2.4% 1.8%

Investment Activities

Capital Expenditure

(in million euros)
  FY2010 FY2009 FY2008
Automotive 29.6 20.4 21.1

-Recorded investments in 2010 reached 29.6m euros (20.4m euros in 2009), including:
• the acquisition of the Puiseux (Val-d’Oise) site building for around 5m euros;
• the construction of the Delle II logistics infrastructure for 2.4m euros;
• the development of new products for parts manufacturers for 3.6m euros;
• the extension of capacity in Germany for 5.1m euros and in China for 1.6m euros;
• the continued Movex ERP deployment exercise for 4.2m euros.