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LEONI AG

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Leoni AG: Sale of significant parts of the industrial business to BizLink completed

01/21/2022 | 05:22am EDT
Leoni AG: Sale of significant parts of the industrial business to BizLink completed Closing conditions for sale of Business Group Industrial Solutions fully met

Nuremberg - The sale of significant parts of the industrial business of Leoni AG, bundled in the Business Group Industrial Solutions, to BizLink Holding Inc. is completed. All closing conditions to which the agreement in principle signed on 01 October 2021 was still subject were met.

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The Business Group Industrial Solutions was part of the Wire & Cable Solutions Division (WCS). The sold activities generated sales of approximately € 430 million in fiscal year 2020 and are valued with an enterprise value of around € 450 million. The cash inflow of more than € 300 million after deductions of, among other things, financial liabilities and pension charges resulting from the closing will be used to improve liquidity.

The completed transaction will thus contribute to significantly improving Leoni's financial position. With the closing of the sale, a profit of around € 200 million will be accounted for in the Group's reported EBIT. The sale includes around 20 international locations of the Leoni Industrial Solutions business in ten countries with around 3,000 employees.

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Leoni AG published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 10:21:01 UTC.


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Sales 2022 4 849 M 5 134 M 5 134 M
Net income 2022 22,8 M 24,2 M 24,2 M
Net Debt 2022 1 531 M 1 621 M 1 621 M
P/E ratio 2022 11,1x
Yield 2022 -
Capitalization 254 M 269 M 269 M
EV / Sales 2022 0,37x
EV / Sales 2023 0,36x
Nbr of Employees 99 607
Free-Float 73,5%
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Number of Analysts 5
Last Close Price 7,77 €
Average target price 9,10 €
Spread / Average Target 17,1%
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Aldo Kamper President & Chief Executive Officer
Harald Nippel Chief Financial Officer
Klaus Probst Chairman-Supervisory Board
Franz Spieß Deputy Chairman-Supervisory Board
Karl-Heinz Lach Member-Supervisory Board
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