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Ad hoc announcement29. August 2002

 
LEONI AG goes on growing

LEONI AG in Nuremberg has continued to grow in the first half of 2002 in spite of economic conditions, which continue to be difficult. The group managed to increase its turnover slightly up to 561.6 mill. Euro compared with the previous year when it was 558.2 mill Euro. The group profit has likewise gone up. It was 30.8 mill. Euro (2001: 11.6 mill. Euro). Without taking into consideration the special effects in-curred as a result of preparing the balance sheet in accordance with US GAAP, this still gives rise to an increase of 18%. The growth was chiefly driven by the Wiring Systems division, which achieved significant increases in turnover and earnings. The Cable division was steady at the same level as the previous year, whereas the Wire division had to put up with more drops in turnover as a result of the persistent weak-ness of the economy. In spite of the poor state of the economy and the difficult situation in the Wire business, LEONI AG is abiding by the forecast of a 3 percent increase in turnover it announced for 2002 at its general meeting. The group profits for the year are to exceed the record level of the previous year. A figure similar to that earned in 2001 is expected for earnings before interest and tax.

 
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