Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  LEONI AG    LEO   DE0005408884

LEONI AG

(LEO)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Leoni : plans stock market listing or sale of its Wire & Cable Solutions division

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/09/2019 | 06:48pm EDT
Leoni plans stock market listing or sale of its Wire & Cable Solutions division

Nuremberg - Leoni AG of Nuremberg (ISIN DE 0005408884 / WKN 540888) is preparing a separation of its Wire & Cable Solutions (WCS) division through a a stock market listing or sale, including the option of a partial sale. To date, no final decision has been taken in this regard. Following a potential separation, Leoni's primary focus would be on the development of its Wiring Systems Division (WSD). To this end, Leoni has begun to mandate respective advisors. Leoni will inform shareholders and the public as soon as relevant developments arise.

Show more Show less

The decision to prepare a separation of its WCS division followed a further review of the existing group structure and strategy for each division in the context of the previously announced VALUE 21 programme. This also included a review of the optimal future ownership structure of WCS and WSD to determine how both divisions can achieve their full potential.

As communicated, Leoni's Board of Directors sees only very limited synergies between both divisions and intends to increase their operational independence. In this context, corporate support functions will transfer from the holding company to the divisions. WCS increasingly focuses on advanced and intelligent cable solutions and services and WSD further enhances its energy and data solutions and services related capabilities.

The implementation of the VALUE 21 programme is progressing according to plan to achieve sustainable gross cost savings targets of EUR 500 million per year by 2022 for the existing group (with a targeted EBIT margin impact of +2‑3%-pts and a targeted FCF yield impact of +4-5%-pts). Around 75% of the savings are expected to be realized in WSD.

Furthermore, Leoni is working on its refinancing requirements for which all options are being considered.

***

This announcement contains certain forward-looking statements that are based on the current assumptions and forecasts of Leoni AG's management. Various known and unknown risks, uncertainties and other factors could cause Leoni's actual results, its financial position, growth or performance to differ materially from the estimates presented herein. Leoni assumes no responsibility whatsoever to update such forward-looking statements or to conform them to future events or developments. Explanations of and reconciliations with key financial figures used can be found in the Annual Report 2018 of Leoni AG (accessible at https://d1619fmrcx9c43.cloudfront.net/fileadmin/corporate/publications/reports/2018/annual_report_2018.pdf?1552974803), particularly on pages 137, 159, 170 et seq. and 240.

Disclaimer

Leoni AG published this content on 09 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 July 2019 22:47:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LEONI AG
10/14LEONI AG : Release according to Article 40, Section 1 of the WpHG [the German Se..
EQ
08/15LEONI : building new plant section for EC charging cables and high-voltage cable..
PU
08/14LEONI : makes good progress in implementing VALUE 21 – challenging market ..
PU
08/13LEONI AG : Preliminary announcement of the publication of financial reports acco..
EQ
08/08LEONI : Germany's Leoni hires external adviser for restructuring - sources
RE
07/29Leoni scouts market for bidders for wire and cables division - sources
RE
07/29LEONI : Germany's Leoni explores sale or listing of its wire and cables business
RE
07/09LEONI : plans stock market listing or sale of its Wire & Cable Solutions divisio..
PU
07/09LEONI AG : Leoni plans stock market listing or sale of its Wire & Cable Solution..
EQ
07/01LEONI : offers smart robot mounting solution for all picking, packing, and palle..
PU
More news
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
Chart LEONI AG
Duration : Period :
LEONI AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LEONI AG
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
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
Sector and Competitors
1st jan.Capitalization (M$)
LEONI AG-60.98%430
PRYSMIAN S.P.A.19.74%6 053
EVE ENERGY CO LTD--.--%4 531
JIANGSU ZHONGTIAN TECHNOLOGY CO., LTD.2.58%3 526
INFORE ENVIRONMENT TECHNOLOGY GRP CO LTD--.--%2 838
BEIJING SHOUGANG CO., LTD.--.--%2 512