The one who got into financial difficulties Nuremberg automotive supplier Leoni appears to be slipping further and further into crisis. As the cable specialist announced on Wednesday (April 12, 2023), there is one with a view to the past financial year high need for impairment. The ongoing preparation of the annual financial statements has shown that for 2022 “due to significant value adjustments in any case a loss has occurred, the consumed the share capital“.
Only had in February Leoni published its “preliminary, unaudited business figures” for the past financial year. From these was then already a sensitive slump in operating profit to read out. The so-called EBIT fell from 130 to 11 million euros compared to the previous year. Due to the refinancing required as a result of a failed 400 million euro deal, the Franconian supplier also expected an additional one to come considerable burden.
Nuremberg: Auto supplier Leoni expects “impairments in the high three-digit million euro range”
This is now evidently crystallizing more and more clearly. According to its own information, Leonie AG is now gone “Value adjustments in the high three-digit million euro range” out of. The exact amounts have not yet been determined, the statement said. The Nuremberg-based company currently employs around 100,000 employees. At the beginning of February Leonie had one another heavy blow have to take it: the Leoni share fell at times by more than a third – to a record low.
The recently approved restructuring concept is now intended to secure the future of the ailing company. The package essentially includes a complete capital cut for the shareholders, a partial waiver by the creditor banks and the takeover by the Austrian major shareholder Stefan Pierer. At an extraordinary general meeting planned for July, the management board of Leoni AG will announce the loss of share capital.
Despite the impending new turning point, the company is emphatically optimistic. “The board of directors assumes that the resulting loss in any case through the implementation of the restructuring concept agreed on April 3, 2023 with major financiers compensated becomes“, concludes the Nuremberg car supplier in its press release.
