LEONI AG : Q3 2020 better than expected, but on non-core WCS business. Structural concerns persist. Reduce rating maintained
>Q3 2020 group results slightly better than expected on non-core WCS - Yesterday, Leoni reported Q3 2020 group results that were slightly above our expectations thanks to the non-core WCS. Q3 2020 group sales were € 1,064m (-8% y-o-y), beating our forecast (€ 1,036m) with a smaller y-o-y decline in the top line at both WSD and WCS. Q3 2020 group EBIT before exceptionals and Value 21 was -€ 8m (margin -0.7%, +60bp y-o-y) beating our estimate (-€ 14m, margin -1.3%) on a...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.