Leoni reaches new record level

The company generated sales of more than EUR 1 billion in a quarter for the first time. Over the first half of 2013 as a whole, the amount of business was up by nearly 2 percent to the record level of EUR 1'970.0 million (previous year: EUR 1'936.7 million). Consolidated earnings before interest and taxes (EBIT) of EUR 39.3 million for the second quarter of 2013 were about 23 percent short of the previous year’s figure of EUR 51.4 million. EBIT for the first six months of 2013 amounted to EUR 77.8 million, down from EUR 145.5 million for the first half of 2012, in which period the Company recognised positive non-recurring items totalling EUR 33.2 million. Consolidated net income amounted to EUR 46.1 million in the first half (previous year: EUR 99.6 million). Strong demand for wiring systems from the German car industry In the Wiring Systems Division external sales rose by about 9 percent year on year in the period from April to June 2013, to EUR 607.6 million (previous year: EUR 555.8 million), and in the first six months they were up by more than 4 percent year on year to EUR 1'175.4 million (previous year: EUR 1'125.8 million). The division’s EBIT for the second quarter of 2013, of EUR 34.6 million, was slightly above the figure for the same period of the previous year, of EUR 34.2 million, despite the fine of EUR 1.4 million imposed by the EU competition authority. Over the first six months as a whole, pre-production expenses and costs of starting up new customer products exerted a significant effect, meaning that the division’s EBIT dipped from EUR 78.3 million to EUR 58.9 million quarter on quarter. Strong automotive cable sales compensate for flat industrial business The Wire & Cable Solutions (WCS) Division generated external sales of EUR 794.6 million in the first half of 2013 (previous year: EUR 810.9 million). The second quarter provided EUR 403.4 million of this total (previous year: EUR 411.8 million). Outlook: sales target for 2013 raised slightly The amount of the Leoni Group's business to date this year has exceeded budget targets slightly while earnings are on the whole at the expected level. Against this backdrop, the Company has raised its sales target for 2013 as a whole slightly from about EUR 3.7 billion to about EUR 3.8 billion (previous year: EUR 3.81 billion).