LEONI AG : Structural challenges and stretched financial situation: we maintain our Reduce rating
>Q2 2020 EBIT pre items loss slightly less marked than anticipated, but net financial debt clearly up y-o-y - Yesterday, Leoni reported Q2 2020 results. Q2 2020 group sales declined 46% y-o-y to € 673m mainly on the back of plant closures at Automotive OE customers and its pronounced regional sales exposure to Europe (2019: 69% of group sales). Group EBIT before exceptionals and Value 21 costs stands at -€ 96m (-14.3% margin, -13.2pp y-o-y) and is slightly less negati...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.