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Electronics Production | March 20, 2012

Leoni to maintain growth course in 2012

At the beginning of 2011, the cable specialist budgeted sales of at least EUR 3.1 billion and EBIT of EUR 170 million, and thereafter twice raised its forecast based on the unexpectedly good trend of business.
Demand was heavier than assumed on virtually all markets and therefore resulted in high utilisation of production capacity.

Personnel: more than 60,000 employees for the first time

Leoni significantly enlarged its workforce during the year under report to meet the increased demand for wires, optical fibers, cables and wiring systems. On 31 December 2011 the Company employed 60,745 people Group-wide, i.e. about 10 percent more than one year earlier (55,156 people). In Germany the number of staff was up by 242 to 4,017 employees. Worldwide, about 14 percent of the workforce was on fixed-term employment contracts, which is part of the Group's strategy of making its production capacity more flexible in view of cyclical fluctuation, which cannot be ruled out.

Forecast: ongoing growth accompanied by increasing profitability

Leoni expects to maintain its course of expansion in the 2012 financial year, while the pace will slow down in view of the surprisingly strong growth in 2011. Depending on the global economic situation, the Company is planning to increase its consolidated sales to between EUR 3.8 and 4.0 billion. EBIT should be in the range from EUR 230 to 280 million. Objectives for 2012 also comprise keeping the return on equity and the equity ratio above the thresholds of 20 percent and 30 percent, respectively. The amount of capital investment will probably rise to between EUR 155 and 185 million.

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