The need for impairment cannot be specifically quantified, but “it cannot be ruled out that it is in the low to mid three-digit million euro range,” LEONI announced on Friday evening. The priority now is to reach an agreement with the creditors in order to “put LEONI back on a solid basis,” said LEONI boss Aldo Kamper, who will resign in March and take over the helm of the lighting technology group AMS Osram.
The listed group of companies, which employs around 100,000 people in 28 countries, was recently plagued by the semiconductor crisis and the temporary closure of two cable harness plants in the Ukraine. After a failed sale of a part of the company, the cable and wiring system specialist urgently needs fresh money. A week ago, LEONI announced that there would probably be no solution without a capital cut by the shareholders. The share price then fell drastically. In after-hours Tradegate trading on Friday, the LEONI share temporarily fell 0.72 percent to EUR 3.32.
Due to the ongoing “constructive but very demanding negotiations” about the financial future of the company, a delay in the preparation of the annual and consolidated financial statements for 2022 and thus also the date of the general meeting is to be expected, it said on Friday.
According to preliminary, unaudited business figures, sales of around 5.1 billion euros were achieved last year, after 5.12 billion euros in 2021, it said. Earnings before interest and taxes (EBIT) before special items were around EUR 11 million, after EUR 130 million in 2021. However, impairments in the course of refinancing are not included in this key figure.
BERLIN (dpa-AFX)
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