Leoni matches 2015 forecast and gives outlook for 2016

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 the analysis of the forecast, the Management Board expects sales of EUR 4.4 billion due to 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 approximately EUR 30 million.