Leoni / Financial year 2017
Sales and earnings targets exceeded
Leoni - a supplier of cables and cable systems - has published its business figures for 2017: sales increased by 11% compared to the previous year.
According to preliminary calculations, turnover reached a new record of 4.9 billion euros (previous year: 4.4 billion euros). The company thus exceeded its most recent forecast of EUR 4.8 billion in the 2017 financial year. It achieved the majority of its growth organically. "Leoni returned to the road to success in 2017," emphasizes Karl Gadesmann, Spokesman of the Leoni Board of Directors. "We were able to significantly improve operationally and at the same time drive forward the strategic repositioning of the Group."
Operating result significantly improved
According to preliminary calculations, Leoni's EBIT of EUR 226 million also exceeded the expected figure of EUR 220 million and thus achieved an EBIT margin of 4.6% (previous year: 1.8%). With the significant increase in EBIT of around 190% compared to the previous year, it should be noted that the company benefited from two positive one-off effects in the 2017 financial year with the sale of a business division and an insurance compensation payment, which together increased earnings by around EUR 30 million. In contrast, the 2016 financial year was impacted by restructuring expenses and a fraud loss totaling around EUR 70 million. Adjusted for these effects, the operating result improved by almost a third from 148 million euros in the previous year to 195 million euros.
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