Lisi Group Sales Driven by Organic Growth

4/25/2012 1:35:00 AM
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Lisi Group Sales Driven by Organic Growth

Lisi Group reported 2011 annual sales climbed 19.1% to EUR 925 million, including 13.8% organic growth, Fastener + Fixing Magazine reports. Operating margins improved by 1.9 points and EBIT reached EUR 76.6 million, up 54.9%.

The aerospace fastener division, which acquired Cruezet Aeronautiqute and Indraero Siren during the year, increased sales 44.7% to EUR 407.6 million.

“It was the main contributor to profit improvement, recovering from a substantial decline in 2010,” writes Fastener + Fixing editor Phil Matten. Creuzet contributed EUR 59 million in sales.

Lisi forecasts further acceleration in its aerospace business.

Lisi Automotive recorded annual sales of EUR 446 million, up 11.2%, while operating margins decreased one full point to 5.3%. Lisi says there was a definite slowdown in automotive sales in the second half and the operating margin is not meeting the Group objective of 10%.

Margin recovery is feasible in 2012 dependent on whether volatility of demand from major customers can be prevented from disrupting production efficiency. ©2012 GlobalFastenerNews.com and Fastener + Fixing Magazine