Leoni announces preliminary financial results for FY 2018
Sales up by 4% y/y to USD5.8 billion
Wiring harness supplier Leoni has released its preliminary results for the financial year that ended 31 December 2018. According to a company’s press release on 7 February, the Germany-based supplier reported a 4% year-over-year (y/y) increase in sales of EUR5.1 billion (USD5.8 billion). Despite increased sales, Leoni witnessed a 36% y/y drop in earnings before interest and taxes (EBIT) to EUR144 million. The company also recorded negative cash flow of EUR147 million against positive cash flow of EUR11 million in the previous fiscal year.