Based on preliminary calculations, Nuremberg-based Leoni AG (ISIN DE 0005408884 / WKN 540888) generated sales of EUR 4.5 billion in the 2015 financial year (previous year: EUR 4.1 billion). The leading European provider of cables and cable systems to the automotive sector and other industries most recently projected a figure of at least EUR 4.4 billion. Exchange rate effects benefited income.
Earnings before interest and taxes (EBIT) amount to approx. EUR 151 million (previous year: EUR 182.5 million). Adjusted for the non-recurring benefit of EUR 19.6 million from the pro-rata sale of the plant in Langfang, China, pre-tax earnings came to slightly more than the forecast level of EUR 130 million. The Wiring Systems Division (WSD) contributed EUR 87 million to EBIT, with this figure including the non-recurring income, while the Wire & Cable Solutions Division (WCS) contributed EUR 64 million. Several exceptional factors adversely affected the latter in the 4th quarter. The Group’s free cash flow was, at a negative amount of EUR 5 million, up on the most recently issued guidance of negative EUR 30 million.
Based on today’s analysis of the forecast, the Leoni Management Board expects sales of EUR 4.4 billion because of more subdued underlying economic conditions for the current 2016 financial year. EBIT is estimated at EUR 105 million, a figure that includes restructuring costs of approx. EUR 30 million.
Today, Leoni will host telephone conferences for investors/analysts and press. A comprehensive report will be provided upon presentation of the final figures for the year at the balance sheet press conference as well as the analyst and investor conference on 23 March 2016.
