Lisi Group (FII) Q3 2024 TU earnings summary

Executive summary

• Consolidated sales for the first nine months of 2024 reached €1,323.0m, up 8.6% year-over-year, driven by strong aerospace growth and resilience in other segments.

• LISI AEROSPACE posted over 20% growth, benefiting from robust demand in commercial, military, and helicopter markets.

• LISI AUTOMOTIVE saw a 4.6% sales decline due to a global automotive market downturn, partially offset by new product ramp-ups.

• LISI MEDICAL sales stabilized after a strong 2023, with long-term prospects remaining positive despite raw material supply challenges.

Financial highlights

• Q3 2024 consolidated sales rose 5.9% year-over-year to €419.4m.

• EBIT for the first nine months was €89.1m, and net profit was €66.6m, both down from €90.7m and €44.0m, respectively, in 2023.

• Unfavorable currency effects reduced sales by €3.9m, while price increases contributed €40.0m.

Outlook and guidance

• Aerospace demand remains strong, especially in the Airbus ecosystem, but Boeing strike effects may impact future quarters.

• Automotive market slowdown is expected to persist, with cost pressures and possible project delays, especially for electric vehicles.

• LISI MEDICAL focuses on new product development and resolving supply chain issues, with long-term growth in minimally invasive and orthopedic markets.

• Group confirms its objective to improve EBIT and generate positive Free Cash Flow for 2024.