NUREMBERG (dpa-AFX) - Leoni AG (LEOGN), a German cable and harnessing maker, on Tuesday reported an increased loss for the third-quarter, amidst a rise in raw material and logistics costs, high volatility of call-offs, inflation, and others. However, the company registered a rise in revenue.
The Nuremberg-headquartered cable maker has revised down its full-year forecast.
For the third-quarter, the company posted a consolidated net loss of 88 million euros, compared with 27 million euros loss, a year ago.
Loss per share from continuing operations was at 3.11 euros as against last year's 1.51 euros.
Loss EBIT from continuing operations stood at 71 million euros, versus 20 million euros loss, reported for the third-quarter of 2021.
Excluding items, loss EBIT from continuing operations rose to 56 million euros, from 3 million euros loss of previous year quarter.
Loss EBITDA from continuing operations was at 27 million euros, compared with EBITDA of 21 million euros of previous fiscal.
The company generated sales of 955 million euros from its continuing operations, higher than 893 million euros of previous year.
Looking ahead, for the fiscal 2022, Leoni now expects its consolidated sales to be at about 3.8 billion euros, with EBIT loss before exceptional items range of high eight-digit euro. Earlier in March, the company had projected 'lower sales and adjusted EBIT, compared to its previous guidance of sales slightly above 5 billion euros, with adjusted EBIT in the mid double-digit million digits.'
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