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Nuremberg (dpa) - The ailing cable and wiring system specialist Leoni is looking ahead more confidently after the Corona year 2020.
The automotive supplier from Franconia expects a recovery in demand in 2021 and a significant increase in consolidated sales in the low double-digit percentage range compared to 2020, as the company announced on Wednesday in Nuremberg when it presented detailed annual figures.
Earnings before interest and taxes (adjusted EBIT) adjusted for special effects and renovation costs should also improve significantly, it said.
The Group pointed out that the expectations expressed assume that the effects of the pandemic will be overcome in the course of the 2021 financial year.
Last year Leoni felt the pandemic despite a significant recovery in the final quarter.
While sales dropped by around 15 percent to 4.1 billion euros, the group posted another operational loss.
The earnings before interest and taxes (adjusted EBIT) adjusted for special effects and renovation costs were minus 59 million euros and were at least slightly better than a year before, when a minus of 66 million euros was posted.
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Although Leoni again wrote deep red numbers on the bottom line, despite the effects of the Corona crisis, it was able to significantly reduce the deficit to minus 330 million euros, after a minus of 435 million in the previous year.
The ongoing restructuring of the Group and savings had a positive effect here.
Company boss Aldo Kamper sees the supplier on the right way out of the crisis.
"We will continue to do our homework to get Leoni back on track step by step," emphasized the manager
© dpa-infocom, dpa: 210317-99-854687 / 2