Lisi Group (FII) H1 2026 earnings summary

Executive summary

• Achieved record half-year EBIT above €100M for the first time, up 22.8% year-over-year, with operating margin at 11.3%, driven by productivity gains and a higher-value product mix across divisions.

• Revenue reached €942.9M, up 5.7% year-over-year, with organic growth of 9.2% despite negative currency effects and scope changes.

• Net income increased 62.1% to €62.4M (6.6% of revenue), with diluted EPS at €1.34 (+67.5%).

• Positive operating free cash flow of €5.9M, reversing a negative trend from H1 2025, with cash flow from operations at €119.4M (12.7% of revenue).

• Strategic initiatives included automation, digitalization, new product development, and geographic rationalization.

Financial highlights

• EBITDA rose to €148.3M (margin 15.7%), up €15.2M from H1 2025.

• EBIT reached €106.2M, up 22.8% year-over-year.

• CAPEX totaled €48.0M (5.1% of revenue), focused on capacity expansion and innovation.

• Net debt increased to €265.1M (23.2% of equity), with gearing and leverage ratios well within covenant limits.

• Operating free cash flow: €5.9M (vs. -€14.3M in H1 2025); net financial debt: €265.1M (23.2% of equity).

Outlook and guidance

• 2026 targets confirmed: aiming for a fourth consecutive year of improved key financial indicators and positive free cash flow.

• Aerospace market remains robust with strong order backlog through 2027; focus on capacity expansion and productivity.

• Automotive division continues structural repositioning, cost discipline, and integration of new sites.