DGAP-Adhoc: Leoni AG: Leoni raises 2010 sales and earnings forecasts significantly
23.07.2010
Leoni AG / Change in Forecast/Preliminary Results
..
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Leoni raises 2010 sales and earnings forecasts significantly
Sales target raised to between EUR 2.6 and 2.7 billion with projected EBIT
doubled to EUR 100 million
Nuremberg, 23 July 2010 - Based on better than expected business
performance, Leoni AG of Nuremberg (ISIN DE 0005408884 /
German WKN code 540888) has raised its forecast for fiscal 2010. The
Company now expects to generate sales of between EUR 2.6 and 2.7 billion
and thus to achieve a year-on-year increase of between 20 and 25 percent.
Earnings before interest and taxes (EBIT) are now put at about EUR 100
million. Leoni previously projected a sales rise of about 10 percent to EUR
2.4 billion with EBIT of at least EUR 50 million.
Following the strong first quarter, the trend in the second quarter was
also surprisingly positive. Based on provisional calculations, Leoni
generated sales of about EUR 748 million and EBIT of around EUR 34 million
from April to June. The totals for the first half of the year therefore
come to sales of around EUR 1.4 billion and EBIT of about EUR 57 million.
Due to the improved macroeconomic conditions and specific sales projections
for the months ahead, Leoni anticipates a far better than previously
forecast trend of business in the second half as well.
The reasons for the better-than-expected 2nd quarter and the raised
expectations for the 2nd half are a larger number of and more extensive
orders from the automotive sector, as well as from other sectors such as
the household appliance and rolling stock engineering industries. In
regional terms, the primary sales drivers are Asia and North America, where
Leoni's European customers are recording strong sales increases.
More comprehensive reporting with further key figures will follow as
scheduled on 10 August 2010 with presentation of the final business results
for the second quarter.
Contact for journalists:
Sven Schmidt
Corporate Public & Media Relations
Phone +49 (0)911-2023-467
Fax +49 (0)911-2023-231
E-mail presse@leoni.com
Contacts for shareholders / investors:
Frank Steinhart / Susanne Kertz
Corporate Investor Relations
Phone +49 (0)911-2023-203 / -274
Fax +49 (0)911-2023-209
E-mail invest@leoni.com
.. Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Leoni AG
Marienstraße 7
90402 Nürnberg
Deutschland
Phone: +49 (0)911 20 23-274
Fax: +49 (0)911 20 23-209
E-mail: invest@leoni.com
Internet: www.leoni.com
ISIN: DE0005408884
WKN: 540888
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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Leoni AG / Change in Forecast/Preliminary Results
..
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
Leoni raises 2010 sales and earnings forecasts significantly
Sales target raised to between EUR 2.6 and 2.7 billion with projected EBIT
doubled to EUR 100 million
Nuremberg, 23 July 2010 - Based on better than expected business
performance, Leoni AG of Nuremberg (ISIN DE 0005408884 /
German WKN code 540888) has raised its forecast for fiscal 2010. The
Company now expects to generate sales of between EUR 2.6 and 2.7 billion
and thus to achieve a year-on-year increase of between 20 and 25 percent.
Earnings before interest and taxes (EBIT) are now put at about EUR 100
million. Leoni previously projected a sales rise of about 10 percent to EUR
2.4 billion with EBIT of at least EUR 50 million.
Following the strong first quarter, the trend in the second quarter was
also surprisingly positive. Based on provisional calculations, Leoni
generated sales of about EUR 748 million and EBIT of around EUR 34 million
from April to June. The totals for the first half of the year therefore
come to sales of around EUR 1.4 billion and EBIT of about EUR 57 million.
Due to the improved macroeconomic conditions and specific sales projections
for the months ahead, Leoni anticipates a far better than previously
forecast trend of business in the second half as well.
The reasons for the better-than-expected 2nd quarter and the raised
expectations for the 2nd half are a larger number of and more extensive
orders from the automotive sector, as well as from other sectors such as
the household appliance and rolling stock engineering industries. In
regional terms, the primary sales drivers are Asia and North America, where
Leoni's European customers are recording strong sales increases.
More comprehensive reporting with further key figures will follow as
scheduled on 10 August 2010 with presentation of the final business results
for the second quarter.
Contact for journalists:
Sven Schmidt
Corporate Public & Media Relations
Phone +49 (0)911-2023-467
Fax +49 (0)911-2023-231
E-mail presse@leoni.com
Contacts for shareholders / investors:
Frank Steinhart / Susanne Kertz
Corporate Investor Relations
Phone +49 (0)911-2023-203 / -274
Fax +49 (0)911-2023-209
E-mail invest@leoni.com
.. Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Leoni AG
Marienstraße 7
90402 Nürnberg
Deutschland
Phone: +49 (0)911 20 23-274
Fax: +49 (0)911 20 23-209
E-mail: invest@leoni.com
Internet: www.leoni.com
ISIN: DE0005408884
WKN: 540888
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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