Provisional figures put consolidated net income at previous year’s level
Nuremberg, 22-2-2013 — /europawire.eu/ — Leoni, the leading provider of cables and cable systems to the automotive sector and other industries, according to provisional calculations generated a new sales high in its 2012 financial year. Consolidated net income matches the record level of the previous year. The Company reaffirms its medium-term growth targets.
Leoni generated revenues of approx. EUR 3.8 billion in 2012 and thus exceeded the previous high of EUR 3.7 billion, posted in 2011, by about three percent. With these record-level sales now attained, the Company has also posted a figure slightly above its most recent forecast of EUR 3.75 billion.
The cable specialist managed a spot landing in terms of earnings before interest and taxes (EBIT) with a figure of about EUR 236 million. This almost matched the high set in the previous year (2011: EUR 237 million).
Leoni equalled its record in terms of consolidated net income, with the bottom line for the past financial year reading EUR 156 million and thus showing the same profit as in the previous year (2011: EUR 156 million). According to provisional calculations, furthermore, the Company posted free cash flow of more than EUR 60 million, thus reaching the projected range (EUR 50 to 80 million).
Given the early date and short-term market developments that are partly very difficult to foresee, Leoni initially issues a conservative sales forecast for the current financial year: the Company expects to generate consolidated sales of approx. EUR 3.7 billion in 2013.
For 2016 the Company already held out the prospect more than a year ago of EUR 5 billion in sales. “We are reaffirming this medium-term forecast based on new projects gained by the Wiring Systems Division, especially so in the BRIC countries,” said Dr Klaus Probst, President and CEO of Leoni AG. “We anticipate considerable sales growth as early as 2014.”
A comprehensive report will be provided upon presentation of the final fiscal 2012 figures at the balance sheet press conference on 20 March 2013 as well as the analyst and investor conference on 21 March 2013.