© leoni Electronics Production | May 08, 2015

Leoni: Record sales in the 1st quarter

Leoni's performance in the first three months of this year "was, on the whole, in line with its expectations", the company reports.
Between January and March 2015, Leoni increased its consolidated sales by about 9 percent, of which nearly 4 percentage points from its own resources, to approx. EUR 1,109 million (previous year: EUR 1,020 million) and thus attained a new quarterly high. From a regional perspective, above all the Americas and Asia contributed to the sales increase. Beneficial currency translation effects accounted for the majority of the growth, i.e. just over 6 percentage points. On the other hand, the lower price of copper exerted a negative effect of about 1 percentage point. The organic growth was once more attributable to the persistently strong demand from the car and commercial vehicle industry. Business with most other industrial sectors also picked up considerably.

Earnings before interest and taxes (EBIT) in the first quarter were still heavily affected by pre-production spending on numerous new wiring system projects and, at EUR 35.2 million, fell considerably short of the previous year’s figure of EUR 50.6 million, which was a comparatively high one for an initial quarter. As already announced, the Company projects a gradual, significant improvement in earnings as the year progresses.

Leoni therefore reaffirmed its forecast for the year, wherein the cable specialist states the aim of increasing its sales to approx. EUR 4.3 billion and its EBIT to more than EUR 200 million.


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