LISI: sales up 12.8% in the third quarter, aeronautics offsets automotive decline
Over the first nine months of 2026, LISI reported consolidated revenue of 1,416.0 million euros, up 8.0%, and up 10.3% on a constant scope and exchange basis. The aeronautics division, which represents 71% of the total, crossed the one billion euro revenue threshold over the period, while the automotive division saw its decline accelerate over the quarters.
The third quarter concentrated these two movements: group sales increased by 12.8%, driven by a 22.5% rise in aeronautics, while automotive declined by 7.4%. The publication came after a 7.5% increase in the share price over one week, a movement noted on October 16, 2026.
A third quarter up 12.8% for the group
In the third quarter, consolidated revenue reached 473.2 million euros, compared to 419.5 million euros a year earlier, representing growth of 12.8% on a reported basis and 12.1% on a constant scope and exchange basis. This was the strongest quarterly increase of the year, following +5.9% in the first quarter (468.0 million euros) and +5.6% in the second quarter (474.9 million euros).
Over nine months, the gap between reported growth (+8.0%) and growth on a constant scope and exchange basis (+10.3%) is primarily due to an unfavorable exchange effect of 24.8 million euros, or 1.8% of revenue, mainly linked to the dollar's decline against the euro. Changes in scope partially offset each other: +4.7 million euros for the integration of LISI Automotive Hungary, acquired on September 30, 2025, and -8.0 million euros for the exit of Ankit (India) from LISI Aerospace's scope on December 31, 2025.
2025 figures have been restated for the sale of LISI Medical, which occurred in October 2025.
Aeronautics in strong growth, automotive in pronounced decline
LISI Aerospace achieved 1,009.4 million euros in revenue over the first nine months, up 14.3% (+18.0% on a constant scope and exchange basis). In the third quarter alone, the division reported 346.2 million euros, or +22.5% on a reported basis and +22.8% on a constant scope and exchange basis, a progression that follows a 23.9% increase in the third quarter of 2025. Over the first nine months of 2025, the division's growth already reached 19.0%.
The Fasteners activity in the United States recorded the strongest progression, at +28.8%, driven in particular by the ramp-up of Boeing programs, notably the B737 MAX. Fasteners activity in Europe and Structural Components activity grew by 13.8% and 13.3% respectively, despite an unfavorable exchange effect. The group links this momentum to increased production rates from aircraft manufacturers: Airbus is currently producing 66 aircraft from the A320 family per month, with a target of 75 per month by 2027.
Conversely, LISI Automotive (29% of the total) saw its sales decline by 5.2% over nine months, to 407.1 million euros (-5.6% on a constant scope and exchange basis). The decline accelerated in the third quarter: -7.4% on a reported basis, at 127.2 million euros, and -9.9% excluding exchange and scope effects. Over this quarter, global production by the division's customer manufacturers fell by 9.0%, and global light vehicle registrations by 5.0%, with -18.0% in China, -0.5% in the NAFTA zone and +6.3% in Europe.
The division continues to reposition its portfolio toward product families with higher added value: new products represented 12.1% of its revenue over nine months. The gradual shutdown of Puiseux operations is proceeding according to plan, as is the transfer of operations from Livonia (United States) to Monterrey (Mexico).
2026 target reaffirmed: EBIT increase and positive free cash-flow
For the fourth quarter, LISI has identified two main priorities in aeronautics: increasing production capacity and improving operational efficiency, in an aerospace supply chain that remains under significant strain. The group reports gaining market share with major strategic customers, linked in particular to the renewal of major contracts in 2025 and 2026.
In automotive, priorities focus on completing the industrial reorganization of the Puiseux-Pontoise site within the Clipped Solutions activity, the operational and functional integration of LISI Automotive Hungary, the transfer of Livonia to Monterrey and the adjustment of inventory levels. The group indicates that persistent uncertainty in the global automotive market could slow the improvement in overall performance, a factor it states it has incorporated into its adaptation plans.
LISI has reaffirmed its objective of significant improvement in its main financial indicators in 2026, for the fourth consecutive year, foremost among which is current operating income (EBIT), as well as positive operating free cash-flow generation. With 1,009.4 million euros out of 1,416.0 million euros in consolidated sales at the end of September, aeronautics represents 71% of the group's activity.
