Lisi Group (FII) H1 2025 earnings summary

Executive summary

• Achieved record sales of €978.8 million in H1 2025, up 8.3% year-over-year, with strong performance in aerospace and improved profitability across all divisions.

• EBIT rose 77.1% to €95.6 million, and net income increased 22% to €38.5 million compared to H1 2024.

• Free cash flow was negative at -€14.3 million, mainly due to a €31.9 million negative currency effect from dollar depreciation.

• Confirmed annual targets and entered exclusive talks to sell LISI MEDICAL to SK CAPITAL, with LISI retaining a 10% stake in the new holding.

Financial highlights

• Revenue grew 8.3% year-over-year to €978.8 million; organic growth was 9.7% after adjusting for currency and scope.

• EBITDA increased 37.4% to €147.3 million; EBITDA margin improved by 3.2 points to 15.1%.

• Current operating margin rose 3.8 points to 9.8%; diluted EPS up 22.1% to €0.83.

• Net financial debt at €519.7 million, representing 52.8% of equity and 2.1x current EBITDA.

• Cash flow from operations covered all investment needs; working capital requirements improved by four days year-over-year.

Outlook and guidance

• Confident in achieving 2025 objectives: further EBIT improvement and positive free cash flow.

• Aerospace demand remains strong, with renewed long-term contracts and robust order books.

• Automotive division expects stable order books but faces low market visibility; strategic acquisition in Hungary planned.

• LISI MEDICAL poised for growth under new ownership, with LISI retaining a minority stake.

• Vigilance maintained regarding geopolitical and macroeconomic uncertainties, especially currency and customs risks.