LISI Group (LISI AUTOMOTIVE) Business Report FY2011

Business Highlights

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

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%

Investment Activities

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