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© demarco dreamstime.com Electronics Production | May 05, 2016

Leoni – on target in the first quarter of 2016

Leoni's performance in the first three months of this year was, on the whole, in line with its expectations.
Leoni generated consolidated sales of EUR 1.089.3 million in the period from January to March 2016 (previous year: EUR 1.108.8 million). Although the Company enlarged its business slightly from its own resources, sales were down marginally from the same quarter of the previous year because of the lower price of copper.

The Group's earnings before interest and taxes (EBIT) dropped to EUR 24.4 million as planned (previous year: EUR 35.2 million). As expected, heavy exceptional charges incurred by the critical projects that started in the Wiring Systems Division last year marked the first quarter of 2016.

The transformation process that was launched at the end of 2015 is running on schedule and will contribute to raising the division’s profitability on a sustained basis. Dieter Bellé, President & CEO of Leoni AG, reaffirmed the company’s forecast for the year, saying that the cable specialist projects sales of EUR 4.4 billion and EBIT of EUR 105 million for 2016.

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