Lisi Sa · EURONEXT:FII
Lisi Sa — FY2025 Earnings Presentation
37 slides from Lisi Sa's earnings presentation, Feb 27, 2026
Slide 1: 2025 Annual Results
2025 ANNUAL RESULTS Friday, February 27, 2026
Slide 2: Summary
SUMMARY 01 02 03 2025: KEY POINTS RESULTS BY GROUP RESULTS TO REMEMBER DIVISION 04 OUTLOOK APPENDICES
Slide 3: 2025: key points to remember
2025: key points to remember • Another year of significant organic growth and improved results, in line with objectives – “Roadmap respected” – (market share gains, contract renewals with strategic customers) • Rigorous management: LISI AEROSPACE LISI AUTOMOTIVE Positive Free Cash Flow in both divis
Slide 4: Strategic refocusing and portfolio enhancement
Strategic refocusing and portfolio enhancement Group profile in 2025 LISI AEROSPACE • Strong internal growth and … LISI AEROSPACE 68% of Group sales • ...market share gains, consolidation of strategic customers • Fasteners 70% Extension/renewal of long-term contracts with Airbus (Fasteners, • Stru
Slide 5: LISI: strong resilience over time
LISI: strong resilience over time Key external and internal events 15,0% COVID-19 crisis EBITDA % Inflation (raw materials, energy, wages, etc.) US tariffs 13,6% 13,2% 13,1% 2020 2021 2022 2023 2024 2025 2026 New Fast • Acquisition of B&E Strengthening of Sale of Acquisition of Sale of Acquisition S
Slide 6: 2025: another year of significant progress, in line with objectives
2025: another year of significant progress, in line with objectives Consolidated revenue (€M) 1 747,9 1 729,5 1 630,4 1 608,7 1 425,2 Objectives Achievements 1 230,0 1 163,9 Positive organic growth above 10% for the fourth consecutive year, reflecting strong ramp-up in the aerospace Organic growth s
Slide 7: Strong positive operating Free Cash Flow of 56.1 €M
Strong positive operating Free Cash Flow of 56.1 €M CAPEX growth (€M) (over 540 €M over 6 years) Positive operating FCF in both divisions 120 7,7% 100 LISI AEROSPACE: 61.5 €M 5,9% 5,7% 5,9% 6,2% 5,7% 80 LISI AUTOMOTIVE: 15.0 €M 60 40 Despite a very unfavorable exchange rate effect on cash and 20
Slide 8: Revenue growth / CAPEX 2022–2025 in €M (excluding LISI MEDICAL)
Revenue growth / CAPEX 2022–2025 in €M (excluding LISI MEDICAL) including LISI AEROSPACE: 1 747,9 M€ 1 608,7 €M 1 448,5 1 274,4 €M + 473.5 €M 1 191,1 €M €M + 139.2 €M 1 030,1 €M + 160.2 €M 838,9 + 15.6% 717,3 + 473.8 €M €M + 174.1 €M €M + 22.8% + 161.0 €M + 17.0% + 191.2 €M + 121.6 €M 84,0 79,6 83,8
Slide 9: Productivity improvement
Productivity improvement LISI : upgrading all sites to a group standard LISI BOOST program This is a performance acceleration program designed to bring all our factories into line with the LISI operational model of tomorrow and raise our Group to the rank of global industrial benchmark. It is base
Slide 10: Summary
SUMMARY 01 02 03 2025: KEY POINTS RESULTS BY GROUP RESULTS TO REMEMBER DIVISION 04 OUTLOOK APPENDICES
Slide 11: LISI AEROSPACE
LISI AEROSPACE Market High order volume driven by a global aerospace market with a consistently favorable long-term outlook Continued increase in production rates at Airbus (A320 and A350) Significant recovery in production rates at Boeing (B737 MAX and B787), which will deliver 600 commercial aircr
Slide 12: LISI AEROSPACE
LISI AEROSPACE Revenue (in €M) and EBIT and operating margin current operating margin in % 11,8% EBIT up for the fourth consecutive year to 140.1 €M, driven by: 8,3% 7,0% 6,0% • Higher production volumes • Strong operating leverage benefiting from improved industrial productivity (revenue: +15.6%, E
Slide 13: LISI AUTOMOTIVE
LISI AUTOMOTIVE Market Global light vehicle registrations up +3.6% compared to 2024, but... ...global production by the division's manufacturer customers down -0.9% Revenue (in €M) Activity 610,4 Sales down -3.7% compared to 2024 (down -0.6% at constant 579,7 exchange rates and scope) 557,6 -5.0% 55
Slide 14: LISI AUTOMOTIVE
LISI AUTOMOTIVE Revenue (in €M) and EBIT and operating margin current operating margin in % Operating margin growth +2.0 points / 2024 in a context of declining 5,0% 5,0% 3.6 3,0% volumes, thanks in particular to: • The effects of the repositioning of the portfolio towards higher value-added product
Slide 15: Summary
SUMMARY 01 02 03 2025: KEY POINTS RESULTS BY GROUP RESULTS TO REMEMBER DIVISION 04 OUTLOOK APPENDICES
Slide 16: Transaction structure
Transaction structure Amounts • Sale of LISI MEDICAL to SK CAPITAL on October 31, 2025 for: 270.4 €M • including LISI's minority stake of 9.988% in the capital of the holding company comprising the entire acquisition by SK CAPITAL, valued at: 18.1 €M Additional consideration upon resale of the divis
Slide 17: Accounting for the sale of LISI MEDICAL
Accounting for the sale of LISI MEDICAL 2025 2024 o Income statement 31/12/2025 IFRS 5 31/12/2025 31/12/2024 IFRS 5 31/12/2024 Disposal of Disposal of incl. LISI MEDICAL LISI MEDICAL published published LISI MEDICAL restated until 10/31/25 over the full (in thousands of euros) year for the full year
Slide 18: Income statement as of 12/31/2025
Income statement as of 12/31/2025 31/12/2025 31/12/2024 CHANGES M€ % CA M€ % CA N / N-1 Revenue 1 747,9 1 608,7 8,7% Production 1 783,1 102,0% 1 628,5 101,2% 9,5% Added value 901,2 51,6% 797,8 49,6% 13,0% Taxes and duties -10,4 -0,6% -10,2 -0,6% 1,7% Payroll costs -629,3 -36,0% -603,9 -37,5% 4,2% (i
Slide 19: Net income transition table
Net income transition table Net income from Rise in the Decrease in non- Decrease in interest Decrease in interest discontinued operations Rise in the contribution of recurring expenses on OPRA loan related to changes (LISI MEDICAL) contribution of LISI AUTOMOTIVE in borrowings LISI AEROSPACE + 65.1
Slide 20: Cash flow statement
Cash flow statement Recorded Increase in Increase in 103 days in 2024 Minority Dividend Increase in Other effects, including CAPEX other WCR inventories 99 days in 2025 interest in payments IFRS 16 debt net change in borrowings Watch Out + 44.3 €M + 16.7 €M + 99.9 €M Positive FCF of 56.1 €M , which
Slide 21: Strengthened financial structure
Strengthened financial structure 2 117,0 2 210,3 2 117,0 2 210,3 €M €M €M €M ASSETS LIABILITIES 1 006,2 Non- 1 118,1 1 281,0 Shareholders' 1 091,0 current equity assets 111,6 Non-current liabilities 127,9 Inventories 460,7 640,8 468,2 Financial 489,4 debt Receivables 267,8 * 269,4 * Other liabilitie
Slide 22: Financing ratios and Net financial debt
Financing ratios and Net financial debt Net financial debt Covenants 1 199,6 1 118,4 12/31/2025 12/31/2024 1 091,0 3,0 1 053,5 2,8 1 021,4 1 006,2 990,4 938,7 233.7 488.5 999,6 Net debt 2,5 GEARING 21.4 48.6 2,3 799,6 Net debt / Cash Flow 1.2 2.9 1,8 2,0 Net debt / EBITDA 0.9 2.3 599,6 1,6 1,5 1
Slide 23: Amortization profile as of 12/31/2025
Amortization profile as of 12/31/2025 Headroom as of December 31, 2025 • Total available cash: 256 €M Of which cash in USD: 228 $M • Unused short-term credit lines: 100 €M • Unused RCF: 55 €M • Receivables sales: 20 €M TOTAL: 431 €M 23
Slide 24: Summary
SUMMARY 01 02 03 2025: KEY POINTS RESULTS BY GROUP RESULTS TO REMEMBER DIVISION 04 OUTLOOK APPENDICES
Slide 25: 2025: AI - Decisive acceleration
2025: AI - Decisive acceleration AI charter LISI is positioning itself among the pioneers of augmented industry Deployment of DUST (French generative AI) starting in Q1 ~200 daily active users, 2025, with tangible results in 9 months: + 40 specialized AI agents (Maintenance, IT, Quality, Finance
Slide 26: LISI AEROSPACE: Defense Applications
LISI AEROSPACE: Defense Applications In 2025, LISI AEROSPACE generated more than 120 €M in revenue from identified defense programs: - Aircraft: Rafale, Typhoon, Mirage 2000, A400 M, F35, F16, etc. - Helicopters: Tigre, NH 90, AH 225 - All types of dual use: César cannon - Other uses and development
Slide 27: LISI AUTOMOTIVE: Active innovation... 71.5 €M in new products in 2025
LISI AUTOMOTIVE: Active innovation... 71.5 €M in new products in 2025 Exterior Occupant safety system & ADAS Squared Exterior trim Exterior trim heal bolts screw clip Airbag LiDAR Seat Torsion tether fastener components bars Wire & Cable Harness Interior Cable Cable channel holder Interior trim “The
Slide 28: Group Outlook
Group Outlook: LISI AEROSPACE The order book is looking good (book-to-bill ratio well above 1), confirming the momentum and strength of demand in the medium term. Priority is being given to continuing to implement capacity measures (Fasteners business) and improving industrial productivity (St
Slide 29: Appendices 2025
APPENDICES 2025 29
Slide 30: Revenue by business segment
Revenue by business segment 2025.12 2024.12 NP PC & $C M€ % M€ % LISI AERO FASTENERS EUROPE 502,3 29 439,1 27 14,4% 17,0% LISI AERO FASTENERS NAM 330,1 19 278,9 17 18,4% 23,4% LIS AEROSPACE STRUCTURAL COMPONENT 388,2 22 336,1 21 15,5% 16,5% LISI AEROSPACE 1 191,1 68 1 030,1 64 15,6% 18,3% LISI AUTOM
Slide 31: LISI AEROSPACE
LISI AEROSPACE 31/12/2025 31/12/2024 CHANGES M€ % CA M€ % CA N / N-1 Revenue 1 191,1 1 030,1 15,6% Production 1 219,6 102,4% 1 049,2 101,9% 16,2% Added value 651,4 54,7% 547,5 53,2% 19,0% Taxes and duties -7,3 -0,6% -6,9 -0,7% 5,3% Payroll costs -438,5 -36,8% -405,3 -39,3% 8,2% (including temporary
Slide 32: LISI AEROSPACE
LISI AEROSPACE Quarterly revenue (€M) Change quarter n/quarter n-1 at new scope 307 308 294 288 283 28,4% 253 253 26,4% 237 224 215 200 200 21,4% 20,2% 18,5% 19,2% 19,0% 17,6% 16,9% 16,6% 12,4% 6,9% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2023 2023 2023 2024 2024
Slide 33: LISI AUTOMOTIVE
LISI AUTOMOTIVE 31/12/2025 31/12/2024 CHANGES M€ % CA M€ % CA N / N-1 Revenue 558,5 579,7 -3,7% Production 565,2 580,4 -2,6% Added value 238,1 42,6% 239,6 41,3% -0,6% Taxes and duties -3,1 -0,6% -3,3 -0,6% 6,5% Payroll costs (including temporary employees) -173,1 -31,0% -184,9 -31,9% -6,4% EBITDA 61
Slide 34: LISI AUTOMOTIVE
LISI AUTOMOTIVE Quarterly revenue (€M) Change quarter n/quarter n-1 at new scope 159 159 157 153 17,4% 150 148 142 144 137 137 133 129 12,8% 5,2% 0,6% 2,8% -1,2% -2,6% -3,9% -5,7% -6,5% -6,2% -9,1% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2023 2023 2023 2024 2024
Slide 35: Workforce by sector of activity
Workforce by sector of activity Registered at end of period Full-time equivalent* 12/31/2025 12/31/2024 12/31/2025 12/31/2024 LISI AEROSPACE 6,630 6,279 LISI AEROSPACE 7,277 6,755 LISI AUTOMOTIVE 2,907 3,076 LISI AUTOMOTIVE 2,975 3,183 LISI MEDICAL 0 812 LISI MEDICAL 704 857 LISI Holding 97 95 LISI
Slide 36: Share price performance in 2025
Share price performance in 2025 260,0 LISI: x 2.4 240,0 220,0 200,0 180,0 160,0 140,0 120,0 CAC 40: +10.4% 100,0 CAC MID 60: +8.2% 80,0 36
Slide 37: Shareholders
Shareholders 12/31/2025 02/2026 CID 44,9% 44,2% 44,2% Treasury shares 47,4% Peugeot Invest Viellard Migeon & Cie Free float 6,7% 6,7% 1.7% 2,5% 1.7% Number of shares: 46,538,313 http://www.lisi-group.com 37