Brief: Leoni Expects War In Ukraine To Negatively Impact FY 2022

Leoni AG

14/03/2022 10:51

March 14 (Reuters) - LEONI AG  LEOGn.DE :
    * EXPECTS NEGATIVE IMPACT ON SALES, EARNINGS AND FREE CASH
FLOW IN
FINANCIAL YEAR 2022 AS A RESULT OF THE WAR IN UKRAINE
    * EXPECTS LOWER SALES, LOWER EBIT BEFORE EXCEPTIONAL ITEMS^2
AND A
LOWER FREE CASH FLOW FOR 2022 COMPARED TO PREVIOUS GUIDANCE AS A
RESULT OF WAR IN UKRAINE AND RELATED ECONOMIC IMPACT.
    * FOR CURRENT FINANCIAL YEAR, PRODUCTION OF TWO PLANTS IN
UKRAINE
WAS PLANNED TO GENERATE COMBINED SALES OF LESS THAN EUR 300
MILLION.
    * FOR LEONI GROUP'S ACTIVITIES IN RUSSIA, SALES OF LESS THAN
EUR
100 MILLION WERE BUDGETED.
    * GUIDANCE FOR 2022: SALES TO SLIGHTLY EXCEED EUR 5 BILLION,
EBIT
BEFORE EXCEPTIONAL ITEMS IN MID DOUBLE-DIGIT MILLION EURO RANGE
AND FREE CASH FLOW WILL BE POSITIVE IN A LOW THREE-DIGIT MILLION
EURO RANGE
    * CORE ASSETS IN COMPANIES OF BOTH MARKETS ARE PROPERTY,
PLANT AND
EQUIPMENT AND INVENTORIES (AROUND EUR 125 MILLION) AND COULD BE
AT LEAST PARTIALLY IMPAIRED

Source text for Eikon:  ID:nEQrM5JMa 
Further company coverage:  LEOGn.DE 

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