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MarketScreener Homepage  >  Equities  >  Xetra  >  LEONI AG    LEO   DE0005408884

LEONI AG

(LEO)
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LEONI : Germany's Leoni explores sale or listing of its wire and cables business

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07/29/2019 | 09:55am EDT
FILE PHOTO: Workers of Leoni industries assemble electric parts for vehicles to be exported to Brazil in San Lorenzo

(This July 10 story corrects second paragraph to say Leoni explores sale or listing of its wire and cables business)

MUNICH (Reuters) - Germany's Leoni is exploring a sale or flotation of its wire and cables division as part of a broader review of the company's group structure, Chief Executive Aldo Kamper told Reuters.

Leoni said it will explore a listing or partial sale of its wire and cable solutions (WCS) business, which supplies the healthcare, factory automation, transportation and automotive markets, separating it from its wiring systems division (WSD).

"We need the proceeds to invest into our wiring systems division. With this step we give ourselves new funding opportunities," Kamper said on Wednesday.

Leoni wants to broaden the product range in its wiring systems division to capture a greater share of business from the auto industry, particularly in energy and data management, the company said.

The Cable and wiring system specialist also wants to offer engineering, design and simulation services.

Leoni brought in Kamper as its chief executive in September 2018, after cutting its 2018 targets. In March this year Kamper abandoned the company's 2019 profit targets, announced job cuts and said the company's finance chief would quit.

Reuters reported in December that Indian car wiring maker Motherson Sumi Systems Ltd was in talks with Leoni over a possible merger, citing people close to the matter.

(Reporting by Alexander Huebner; Writing by Edward Taylor; Editing by Thomas Seythal and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
LEONI AG -2.15% 11.815 Delayed Quote.-60.98%
MOTHERSON SUMI SYSTEMS LIMITED -3.58% 103.7 End-of-day quote.-35.54%
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Financials (EUR)
Sales 2019 4 939 M
EBIT 2019 -211 M
Net income 2019 -229 M
Debt 2019 1 119 M
Yield 2019 -
P/E ratio 2019 -1,68x
P/E ratio 2020 12,7x
EV / Sales2019 0,30x
EV / Sales2020 0,30x
Capitalization 386 M
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Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 9,57  €
Last Close Price 11,82  €
Spread / Highest target 77,7%
Spread / Average Target -19,0%
Spread / Lowest Target -66,1%
EPS Revisions
Managers
NameTitle
Aldo Kamper President & Chief Executive Officer
Klaus Probst Chairman-Supervisory Board
Ingrid Jägering Chief Financial Officer & Director
Franz Spieß First Deputy Chairman-Supervisory Board
Karl-Heinz Lach Member-Supervisory Board
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