Nuremberg – LEONI AG of Nuremberg made substantial gains in both sales and earnings in the past financial year. Based on preliminary figures, the Company generated consolidated sales of EUR 1.55 billion in fiscal 2005, equating to a year-on-year increase of about 24 percent (EUR 1.25 bn in 2004). The Company had originally anticipated a 20 percent rise. LEONI also achieved substantial growth in earnings before interest and taxes (EBIT). The figure was up from the previous year’s EUR 56.8 million to EUR 102.8 million despite the exceptional charges related to the insolvency of customer MG Rover. With EUR 56.1 million, net income more than doubled versus the fiscal 2004 figure of EUR 27.7 million. Before spending on acquisitions and dividend payout, free cash flow amounted to about EUR 50 million.

Wiring systems drove an upsurge in sales

LEONI’s Wiring Systems Division again in the 2005 financial year made the largest contribution to growth with a sales increase of about 29 percent to EUR 879.4 million (up from EUR 683.1 million in 2004). Wiring systems above all for new car models of General Motors (Opel), DaimlerChrysler, BMW, Land Rover and Porsche contributed in this respect. International business involving component suppliers and especially commercial vehicles also performed very well.

Wire and Cable likewise successful

The 2005 financial year was a successful one for the Wire & Cable Division as well. Despite on the whole difficult underlying conditions, the division generated a sales increase of about 18 percent to EUR 668.6 million (up from EUR 567.1 million in 2004). This is attributable primarily to expansion of the automotive cables business in Eastern Europe and North America. The division realised additional gains with special cables for automation engineering and mobile communication applications. Part of the sales increase is due to the higher price of copper compared with the previous year, as well as to acquisitions.