NUREMBERG (dpa-AFX) - LEONI (LEOGN) said the company continued to stabilise despite the substantially cloudier conditions in the third quarter. EBIT before exceptional items as well as before VALUE 21 costs significantly improved over prior year due to the positive operating factors stemming from above all from VALUE 21 as well as volume and mix-related effects. Sales were up around ten percent driven mainly by the increased price of copper. Organic growth was 3 percent.
Looking forward, the company maintained its full year guidance. However, the company noted that a prerequisite to achieve guidance is that there are no additional disruptions to the production of car manufacturers later in the year.
Third quarter EBIT before exceptional items as well as before VALUE 21 costs was 29 million euros compared to a loss of 8 million euros, prior year. Loss to equity holders was 26.8 million euros compared to a loss of 52.3 million euros. Loss per share was 0.82 euros compared to a loss of 1.60 euros. Sales rose around ten percent year-on-year to 1.17 billion euros.
Copyright RTT News/dpa-AFX
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