Nuremberg – 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.