Leoni Sales Up While Earnings Dip

Cable and fiber optics group Leoni AG has reported €4.5 billion (about $5.03 billion) in sales in 2015 for a year-on-year increase of about 10 percent from 2014.

Earnings before interest and taxes (EBIT), however, dropped to €151.3 million from the 2014 €182.5 million total. This was due mainly to higher-than-planned expenses relating to new projects in the Wiring Systems Division in the third and fourth quarters. The figure furthermore includes non-recurring income of —19.6 million from the sale of a share in a plant.

Consolidated net income amounted to €77.3 million (previous year: €115.1 million), and Leoni said it will pay out a dividend of €1.00 per share, compared with €1.20 in 2014.