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Electronics Production | April 21, 2011

Leoni raises sales and earnings forecasts

Leoni AG of Nuremberg has significantly raised its forecast for the current financial year.
The Management Board’s projections for fiscal 2011 are now sales of about EUR 3.4 billion and earnings before interest and taxes (EBIT) of approximately EUR 210 million. The Company's previous estimates were sales of at least EUR 3.1 billion and EBIT of around EUR 170 million.

The principal reason for this adjustment is a very strong first quarter. Based on provisional figures, Leoni generated record quarterly results with sales of about EUR 910 million and EBIT of roughly EUR 61 million from January to March. The raised estimates are also based on prospects of stable business for the subsequent quarters.

The adjusted forecast applies provided that international trouble spots like the natural and nuclear disaster in Japan as well as the upheaval in North Africa do not affect Leoni's business performance any more than to the currently expected extent.

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