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Leoni AG Q2 profit falls YOY

LEONI AG said its normalized net income for the second quarter amounted to 61 euro cents per share, a decrease of 26.7% from 83 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €20.0 million, a decrease of 26.7% from €27.3 million in the prior-year period.

The normalized profit margin dropped to 1.7% from 2.4% in the year-earlier period.

Total revenue totaled €1.15 billion, compared with €1.16 billion in the prior-year period, and total operating expenses came to €1.11 billion, compared with €1.11 billion in the prior-year period.

Reported net income fell 30.4% from the prior-year period to €24.3 million, or 75 cents per share, from €35.0 million, or €1.07 per share.