LISI : A relatively good resilience in H1 with strong FCF generation
>Interim earnings ahead of our expectations - As expected, Lisi reported half-year results largely affected by the health crisis, nevertheless exceeding our expectations in terms of the underlying operating profit. Interim sales came in at € 636.7m (€ 612.6m estimated) down 28.2% and 25.7% on an organic basis (-7.9% in Q1 and -43.7% in Q2). As a result, results show a very strong drop of 69% with an underlying operating profit of € 22.5m vs € 72.8m, i.e. an underlying...LISI manufactures multifunctional fasteners and assembly and structural components for three business sectors: aerospace, automotive, and perfurmery. Co.'s activities are also split into three divisions: LISI Aerospace division, LISI Medical division and LISI Automotive division. LISI Aerospace division produces fasteners and assembly components for the aerospace and motor racing markets. LISI Medical division produces medical implants and is a sub-contractor of auxiliary parts. LISI Automotive division produces automotive fasteners and assembly components.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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