Leoni generates better-than-expected EBIT of EUR 78 million in 2016

Sales performance on target – proposed dividend of EUR 0.50 per share

Nuremberg – Leoni, the leading provider of cables and cable systems to the automotive sector and other industries, generated sales of some EUR 4.4 billion in fiscal 2016 (2015: EUR 4.5 billion) according to preliminary calculations, thereby matching expectations. The earnings before interest and taxes (EBIT) of approx. EUR 78 million exceed the projected figure of EUR 65 million.

Fiscal 2015 EBIT benefited from the proceeds of EUR 19.6 million on a disposal. By contrast, the comparable figure for fiscal 2016 includes charges in the amount of approx. EUR 30 million due to restructuring and about EUR 40 million stemming from the fraud case. Adjusted for these exceptional factors, operating profit improved considerably compared with the previous year.

Based on preliminary calculations, particularly valuation allowances on deferred tax assets and the tax consequences of the fraud case will result in net income of about EUR 10 million (2015: EUR 77.3 million). The Board of Directors and Supervisory Board will propose to shareholders at the Annual General Meeting to pay out a dividend of EUR 0.50 (previous year: EUR 1.00) per share.

A comprehensive report will be provided upon presentation of the final figures for the year at the balance sheet press conference as well as the analyst and investor conference on 23 March 2017. Leoni will then also issue a forecast for the current financial year. 

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