LEONI AG : Cyclical downturn and high financial leverage: Reduce rating maintained
>Substantial Q2 2020e EBIT loss likely - Leoni will report Q2 2020 results on 12 August. On the back of a markedly y-o-y declined global LV production in Q2 2020 (HIS: -47% y-o-y), we expect Leoni’s Q2 2020e group sales down 44% y-o-y to € 694m. We expect both sales in WSD (-50%e y-o-y) as well as in WCS (-35%e y-o-y) due to its strong exposure to automotive cables to be markedly down y-o-y in Q2 2020e.Our Q2 2020e group EBIT before special items & Value 21 cost...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.