Lisi Group (FII) H2 2024 earnings summary

Executive summary

• Achieved organic growth over 10% for the third consecutive year, with revenue reaching a record €1,794.0M, up 10.0% year-over-year, driven by strong aeronautics market momentum.

• EBIT rose to €115.0M (+26.9%), net profit increased 49.2% to €56.0M, and EPS grew 48.2% to €1.23 compared to 2023.

• Operating Free Cash Flow was positive across all divisions at €57.7M, and net debt was reduced by €12.6M post share buyback.

Financial highlights

• EBITDA reached €211.8M (+18.9% year-over-year), with EBITDA margin improving to 11.8% (+0.9 pts).

• Operating cash flow was €170.0M (9.5% of sales), financing higher CAPEX of €100.4M (5.6% of sales).

• Net debt at €488.5M (2.3x EBITDA), net debt-to-equity ratio improved to 48.6% from 53.4%.

• Dividend proposed at €0.39 per share, up from €0.31.

Outlook and guidance

• Sustained aeronautics growth expected to offset potential automotive sector volatility.

• Targeting continued improvement in key financial indicators, assuming stable macroeconomic conditions.

• Aeronautics division enters 2025 with strong order visibility and revised sales price base; automotive faces continued H1 2025 slowdown but is positioned for adaptation.