LEONI AG : Q3 2020e results likely to reflect some q-o-q improvement, but 2021e group EBIT might remain in negative territory contrary to consensus expectation
>Q3 2020e results might reflect some sequential improvement on low base - Leoni is to report its Q3 2020 results on 11 November. We expect Q3 2020e group sales to come in at € 1,036m (-9% y-o-y organic) and thus to reflect i/ the marked European exposure of Leoni with IHS October forecast stating -8% y-o-y in European LV production for Q3 2020e and ii/ a forex tailwind. Our Q3 2020e group EBIT before exceptionals and Value 21 estimate is -€ 14m (-1.3% margin, +0bp y-o...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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