Leoni more than doubled its net income in 2011
Preliminary figures show dynamic growth and enhanced efficiency
Leoni thereby again exceeded its sales forecast, having raised it twice in the course of fiscal 2011 and most recently to EUR 3.6 billion. The principal reason for this was the dynamic demand through to yearend from the automotive sector and the capital goods industry. From a regional perspective, the very strong increase in sales of cable harnesses and wiring systems for vehicles in the BRIC countries as well as the United States merits particular mention.
In terms of earnings before interest and taxes (EBIT), Leoni succeeded in generating a disproportionately strong increase of more than EUR 100 million. Having posted a figure of EUR 131 million in fiscal 2010, the Company attained the record level of EUR 237 million in the past financial year.
Leoni’s most substantial gain in percentage terms involved consolidated net income, with the bottom line reading EUR 156 million and thus double the profit of the previous year (2010: EUR 67 million). Furthermore, the cable specialist generated free cash flow of more than EUR 100 million – thereby significantly exceeding its target of EUR 80 million.
For the current 2012 financial year Leoni expects, depending on the global economic situation, to be able to raise consolidated sales to between EUR 3.8 and 4.0 billion.
A comprehensive report with detailed explanation will be provided upon presentation of the final fiscal 2011 figures at the balance sheet press conference on 20 March 2012 as well as the analyst and investor conference on 21 March 2012.