— LISI

The LISI group is one of the world leaders in fasteners and assembly components in the aerospace and automotive industries, and has operated in the healthcare sector since 2007. LISI is an acronym for Link Solutions for Industry.

As at Dec 31, 2018
 

Stake in LISI

19%

Investment date

1977

FFP's investment.

The Peugeot family has been a shareholder of Compagnie Industrielle de Delle (CID), LISI’s main shareholder, since 1977. In 1996, FFP received a 25% interest in CID as a contribution from another Peugeot family group company.

In 2002, FFP took a direct 5% holding in LISI. At 31 December 2018, the FFP group (via wholly owned subsidiary FFP Invest) directly and indirectly owned 19% of LISI.

FFP Invest has signed an agreement with CID’s main shareholders regarding the liquidity of CID shares.

Christian Peugeot, Thierry Peugeot and Xavier Peugeot are directors of CID. CID, represented by Thierry Peugeot, is a director of LISI. Marie-Hélène Peugeot-Roncoroni and Christian Peugeot are also directors of LISI. Within LISI, Marie-Hélène Peugeot-Roncoroni is a member of the Appointments Committee and the Governance Committee, Christian Peugeot is a member of the Strategy Committee, and CID, represented by Thierry Peugeot, is a member of the Remuneration Committee and chairman of the Appointments Committee.

In 2018.

In 2018, revenue at LISI Aerospace (57% of the group’s sales) totalled €934 million, down 4.6% at constant scope and exchange rates. The division was affected in particular by a slowdown in the European fasteners segment.

LISI Automotive (35% of the group’s sales) saw sales growth of 14.8%, driven in particular by the acquisitions of Termax and Hi-Vol. That division saw strong growth between January and August, before suffering from the sudden slowdown in the European and Chinese markets, which affected carmakers’production rates. The division’s revenue amounted to €581 million.

LISI Medical (8% of the group’s sales) generated revenue of €131 million, down 2.9% at constant scope and exchange rates.

Although the aerospace business continued to account for most of LISI’s recurring operating profit (71% of the total), the automotive business increased its share to 25%, partly because of the integration of Termax and Hi-Vol.

Overall, LISI’s revenue totalled €1,645 million, up 0.1% year-on-year or down 2.6% at constant scope and exchange rates. Recurring operating margin was 8.2%. LISI’s financial position is solid, with net debt of €339 million at 31 December 2018.

Key figures.

2018 turnover

1.6bn

2018 operational margin

8.2%

Shareholding structure.