NUREMBERG (dpa-AFX) - Leoni AG (LEOGN), a German energy and data management solutions provider for the automotive industry, reported that its first quarter preliminary EBIT rose to about 75 million euros from 51 million euros in the previous year.
EBIT, before exceptional items, was negative around 17 million euros compared to positive 29 million euros in the prior year.
Quarterly sales declined by around 7% to 1.26 billion euros from last year, mainly driven by the sale of the BG IN business unit. The discontinuation of BG IN had a burdening effect on group's operating result.
Furthermore, EBIT before exceptional items was also negatively impacted by significant charges on earnings due to increased raw material, logistics and energy costs, which could not yet be passed on to customers. In addition, there was continued high volatility in customer call-offs due to disruptions in the global supply chains, mainly due to the semiconductor crisis, as well as the consequences of the war in Ukraine.
The outlook for the current financial year remains unchanged.
The company will publish financial results of the first quarter of 2022 on 11 May 2022.
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