Leoni, continued its growth trajectory in the second quarter of 2017 and thereby outperformed expectations. Consolidated sales rose by about 8 per cent year on year to EUR 1.24 billion in the period from April to June (previous year: EUR 1.15 billion) and by more than 9 per cent to EUR 2.44 billion in the first six months (previous year: EUR 2.24 billion). Leoni generated most of this growth from its own resources. It was based on the continued, good demand from the global automotive industry. The higher price of copper than in the previous year also exerted a beneficial effect.
Compared with the same periods in 2016, the Leoni Group's earnings before interest and taxes (EBIT) rose from EUR 37.6 million to EUR 83.9 million in the second quarter of 2017 and from EUR 61.9 million to EUR 136.8 million in the first half. Alongside operational improvements in the Wiring Systems Division, the Company benefited from non-recurring factors: a gain on deconsolidation of EUR 24.8 million from the disposal of the domestic and electrical appliance cables business and exceptional income of EUR 5 million from a fidelity insurance policy payout. By contrast, substantial restructuring expenses of about EUR 21 million weighed on the first half of 2016.
Adjusted for non-operational effects, EBIT rose by about 4 per cent to EUR 62.3 million in the period from April through June 2017 (previous year: EUR 60.0 million) and by just over 26 percent to EUR 114.0 million in the first six months (previous year: EUR 90.3 million). After-tax profit for the first six months was up from EUR 35.9 to 92.2 million.