DGAP-Adhoc

Leoni has lowered its profits forecast for 2014 due to exceptional charges in the 3rd quarter

Leoni AG / Key word(s): 9-month figures/Profit Warning

13.10.2014 19:33

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Leoni has lowered its profits forecast for 2014 due to exceptional charges
in the 3rd quarter

Nuremberg, 13 October 2014 - Leoni AG of Nuremberg (ISIN DE 0005408884 /
WKN 540888) will probably not meet the profits forecast it issued for the
2014 financial year. Following today's Management Board meeting, the
Company expects to achieve earnings before interest and taxes (EBIT) of at
least EUR 180 million instead of the previously projected figure of more
than EUR 200 million.

Based on provisional calculations, Leoni generated consolidated sales of
EUR 1,013 million and EBIT of about EUR 35 million in the third quarter.
The principal reason for this weaker performance in terms of operating
profit involves heavy, unplanned charges arising from new product start-ups
in the Wiring Systems Division, which already exerted an adverse effect in
the 2nd quarter. In total, exceptional costs reduced consolidated EBIT by
approx. EUR 15 million in the 2nd and 3rd quarters.

With the countermeasures applied taking effect, these earnings-reducing
factors did not recur in the month of September. Leoni expects 4th quarter
performance to be on-budget. But it will not be possible to compensate for
the reductions of EBIT suffered in the summer months.

The Company reaffirms its target of generating sales of approx. EUR 4.1
billion in 2014. Its medium-term forecast also remains unchanged with sales
of EUR 5 billion and a 7 percent EBIT margin projected for 2016.

A comprehensive report on the results of the 3rd quarter of 2014 will be
released on 11 November 2014 as scheduled.


Press contact
Sven Schmidt
Corporate Public & Media Relations
Phone [phone]
Fax [phone]
E-mail [e-mail]


13.10.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Leoni AG
Marienstraße 7
90402 Nürnberg
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
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 Announcement DGAP News-Service

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