Financial Overview

(in million euros)

	FY2011	FY2010	Rate of change(%)	Factors
Group
Sales	925.1	776.7	19.1	-
EBITDA	122.1	95.7	27.6	-
Automotive Division
Sales	446.3	401.3	11.2	1)

Factors
1) Automotive Division
-The Division's sales in 2011 increased by 11.2% (45.2 million euros) to 446.3 million euros, reached its highest record. This performance is to be compared with the 1.4% decline in registrations in Europe and 4.9% increase in the production of the Company's clients.

-Major factors of increase in sales were order-taking for new product, especially in Beijing (+24%) and Shanghai (+60%).

Contracts

-The Company announced that it was designated as a "Major Supplier" by PSA Peugeot Citroen. (From a press release issued in September 2011)

Awards

-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)

R&D Expenditure

(in million euros)

	FY2011	FY2010	FY2009
Group	18.9	18.4	16.5
% of sales revenue	2.0%	2.4%	2.4%

Capital Expenditure

(in million euros)

	FY2011	FY2010	FY2009
Automotive	35.6	29.6	20.4

-Major investment projects:

• The operational opening of the Delle II (Belfort, France) which represents an amount of 5.3 million euros
• The implementation of the hardware plan (presses, rolling machines and heat treatment) for 11.9 million euros
• The layout of the Puiseux site (Val d'Oise, France) to accommodate the activities of Bonneuil-sur-Marne (Val de Marne, France) for 5 million euros