DJ DGAP-Adhoc: Leoni AG: Leoni raises 2010 sales and earnings forecasts significantly

DJ DGAP-Adhoc: Leoni AG: Leoni raises 2010 sales and earnings forecasts significantly

Leoni AG / Change in Forecast/Preliminary Results

23.07.2010 08:06

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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

23.07.2010 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

(END) Dow Jones Newswires

July 23, 2010 02:07 ET (06:07 GMT)

Quelle: DJ-Newswire