NEWS
LISI Group grows first half sales and profits
The LISI Group reported 4.8% sales growth in the first half of 2014 on constant scope and exchange rate basis. Group operating profits increased by 2.5%.
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roup sales were 616.9 million euros compared with 594.8 million euros for H1 2013. However, the negative currency effect cost the Group 6.2 million euros in growth for the half year. EBIT for 2014 H1 was 71.2 million euros up from 69.4 million euros for same period 2013. In June LISI Group acquired all the shares of Manoir Aerospace for a total consideration of 126 million euros
but the completion was too close to the half year end to reflect in Group activities. Manoir mainly specialises in forging metal parts, exclusively for aeronautical applications, and posted 2013 sales of around 164 million euros. Prior to the acquisition aerospace already accounted for 57% of Group sales. A slight decline in European aerospace
fastener sales, related to the commissioning of the A350 assembly line, was offset by growth of sales in the United States. First half 2014 sales totalled 347.8 million euros up 1.5% on same period 2013. The automotive division, which contributed 38% of sales, benefited from recovery of demand in Europe and from “hotspots such as China”. Sales increased by 5.9% (6.5% at constant scope and exchange rates) to 233.5 million euros. LISI noted particularly strong production increases from VW, Daimler, Renault-Nissan and Dacia and the Group estimates 10% growth with German manufacturers and suppliers as well as new Asian customers. Operating profit rose 5.1% to 6.7 million euros, despite a number of non-recurring costs including ongoing reorganisation. LISI Medical returned to significant growth in line with its strategic directions.
Bossard reports successful half year
The Bossard Group reported successful business growth in the first half of 2014. Sales, operating profit and net income reached record highs.
CHF 41 million, representing an operating margin of 13.2% (12.1% in 2013 H1). Bossard says operating profit and margin was particularly satisfactory in Europe and Asia. Bossard’s H1 2014 gross margin was 40.6%, up from 39.1% in 2013 attributable to changes in the product mix and
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variations in the regional contribution to total Group profitability. Net income for H1 2014 also increased to a record CHF 32.3 million. Despite increased taxes the return on sales increased to 10.4% from 9.7% in H1 2013. Positive demand in Europe continued into the first half of 2014, significant to Bossard as it generates two-thirds of
its sales in Europe. Sales volume also rose year-on-year by CHF 12.7 million to CHF 208.2 million – representing 7.1% growth in local currency and 6.5% in Swiss francs. Bossard boosted sales in nearly all markets, scoring double-digit growth especially in Spain and Italy. American sales were CHF 65.7 million, reflecting 5.6% shrinkage in local currency, mainly as a result of weaker demand from one major customer. Bossard did show quarter on quarter improvement but the drop in sales was accentuated by conversion to Swiss francs. Bossard expects improvement in the second half as it begins to reap the benefit of a new three-year contract with Tesla. Last year’s growth trend in Asia continued into 2014 largely due, Bossard says, to new customer sales. Sales rose 17.6%
to CHF 47.1 million although, again, weaker Asian currencies meant this converted to a growth of 9.8% in Swiss francs. Bossard concludes that “focused implementation of its strategy with targeted investments in employees, infrastructure and new market development, as well as an expanded product line with higher quality components, have paid off.”
Fastener + Fixing Magazine • Issue 89 September 2014
hile acknowledging the benefit from an overall improved economy Bossard says the good results were also due to the Group’s success in acquiring new customers. Bossard sales for the first half of 2014 totalled CHF 321 million (266 million euros), a 5.6% growth over 2013 H1 in local currencies, which converted to 3% growth in Swiss francs. Operating profit rose 12% to
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