Leoni with earnings above market expectations in 1st half of 2016

Nuremberg – Based on provisional calculations as of today, Leoni AG of Nuremberg (ISIN DE 0005408884 / WKN 540888) estimates earnings before interest and taxes (EBIT) of about EUR 62 million for the first half of 2016. This figure already accounts for restructuring expenses of about EUR 21 million; adjusted for this item, consolidated EBIT for the period from January to June will have come to approximately EUR 83 million. Alongside operational improvements, favourable, exceptional factors, involving primarily exchange rate fluctuation and the reversal of provisions, contributed to outperforming market expectations. In terms of sales, the Company is on budget with approx. EUR 2.24 billion at the half-year mark.

EBIT for the second quarter amounts to about EUR 38 million or, excluding restructuring costs, to approx. EUR 56 million.

As forecast, Leoni expects for seasonal reasons to generate slightly less sales in the 2nd half than it did in the first. Moreover, there are unlikely to be any further exceptional items of a comparable extent. Leoni will thus keep its now rather conservative full-year EBIT guidance unchanged at EUR 105 million, which allows for restructuring expenses of EUR 30 million.

A comprehensive report on the results of the 2nd quarter of 2016 will be released on 10 August 2016 as scheduled.