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© Leoni AG Electronics Production | July 25, 2011

Leoni raises sales and earnings forecasts again

Leoni AG of Nuremberg has again noticeably raised its forecast for the current financial year.

The Management Board’s projections for fiscal 2011 now are sales of about EUR 3.6 billion and earnings before interest and taxes (EBIT) of approximately EUR 230 million. The Company's previous estimates were sales of about EUR 3.4 billion and EBIT of approximately EUR 210 million. Decisive for the adjustment is the development of demand still being significantly beyond expectation and leading to a strong business performance in the second quarter again. Based on provisional figures, Leoni generated once more record quarterly results with sales of about EUR 943 million and EBIT of roughly EUR 67 million from April to June. Thus, in the first half of the year sales come to about EUR 1.854 billion and EBIT to about EUR 129 million. The raised estimates are also based on continuous positive business prospects for the second half of the year.
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