Leoni AG / Key word(s): Forecast/Quarter Results
26.07.2012 16:16
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Leoni sharpens its forecast for the year
Nuremberg, 26 July 2012 - Leoni AG of Nuremberg (ISIN DE 0005408884 / WKN
code 540888) has sharpened its sales and earnings forecast for the current
financial year. The Management Board's projections for fiscal 2012 are now
sales of between EUR 3.8 and 3.9 billion and earnings before interest and
taxes (EBIT) of EUR 230 to 250 million. The Company's previous estimates
were sales of between EUR 3.8 and 4 billion and EBIT of EUR 230 to 280
million. The key reasons for this range-narrowing were the Company's
business performance in the 2nd quarter as well as the as the prospects for
demand during the remaining months of the financial year.
Based on preliminary figures, Leoni generated sales of about EUR 968
million from April to June and quarterly EBIT of about EUR 51 million. The
reasons for this operating result significantly below the previous year's
figure (EUR 68 million) were shifts in the product mix, various exceptional
factors as well as higher costs of integrating the Daekyeung company
acquired at the beginning of the year.
For the 1st half of 2012, sales thus amount to about EUR 1.937 billion and
EBIT comes to roughly EUR 145 million, with the earnings figure given a
non-recurring boost of EUR 28 million from the sale of Leoni Studer Hard AG
in the 1st quarter. Leoni is confident that it will meet this sharpened
forecast despite the second quarter, which fell short of capital market
expectations
More comprehensive reporting with further key figures will follow as
scheduled on 7 August 2012 with presentation of the final business results
for the second quarter.
Contact:
Sven Schmidt
Leoni AG
Public & Media Relations
Tel: +49 (0)911 / 2023-467
E-mail: sven.schmidt@leoni.com
26.07.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Leoni AG
MarienstraÃe 7
90402 Nürnberg
Germany
Phone: +49 (0)911 20 23-274
Fax: +49 (0)911 20 23-209
E-mail: invest@leoni.com
Internet: www.leoni.com
ISIN: DE0005408884
WKN: 540888
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Leoni AG: Leoni sharpens its forecast for the year
| Source: EQS Group AG