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Leoni AG Q1 profit falls 30.4% YOY

LEONI AG said its first-quarter normalized net income amounted to 37 euro cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS fell 30.4% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €12.1 million, a decline of 30.4% from €17.4 million in the year-earlier period.

The normalized profit margin declined to 1.2% from 1.6% in the year-earlier period.

Total revenue fell on an annual basis to €1.09 billion from €1.11 billion, and total operating expenses totaled €1.07 billion, compared with €1.07 billion in the year-earlier period.

Reported net income decreased 31.0% year over year to €11.5 million, or 35 cents per share, from €16.7 million, or 51 cents per share.