LEONI AG : Weak Q1 2019e results ahead – TP reduced to €15 (prev. €16)
>Weak set of Q1 2019e results ahead - Leoni will release Q1 2019 results on 15 May 2019. We expect Q1 2019e group sales to come in at €1,286m (-3% yoy). Group sales should be impacted by clearly negative global LV production growth (IHS -6% yoy) weighing on organic growth (we est. -3% yoy), some negative copper price effect (we est. -1.6% yoy) and slight FX tailwind (we est. +1.4% yoy) predominantly from the EURUSD. Our Q1 2019e group EBIT (incl. at-equity results) es...Leoni AG acts as the holding company, engaged in providing wires, optical fibers, cables and cable systems as well as related services for applications in the automotive sector and other industries. Co.'s business comprised of two divisions: Wire & Cable Solutions (WCS), which develops, produces and assembles wires and strands, optical fibers, standard and special cables, hybrid and optical cables as well as complete cable systems for a variety of industrial applications; Wiring Systems Division (WSD), which develops, produces and sells cable harnesses, complete wiring systems as well as related components for the global car, commercial vehicle and supply industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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