DGAP-Ad-hoc: Leoni AG / Key word(s): MiscellaneousLeoni AG: Leoni expects substantial burdens from the coronavirus pandemic and decides on measures to ensure the continuation of business operations23-March-2020 / 09:30 CET/CESTDisclosure of an inside information acc. Leoni expects substantial burdens from the coronavirus pandemic and decides on measures to ensure the continuation of business operationsNuremberg, 23 March 2020 - In view of the economic uncertainties associated with the spread of the coronavirus and the resulting challenges especially for the automotive industry, Leoni AG, Nuremberg (ISIN DE 0005408884 / WKN 540888) expects considerable burdens on sales, earnings and liquidity. Against the backdrop of the expected burdens, the Board of Directors today has decided on a number of measures to ensure the continuation of business operations. Leoni also expects the automotive business of the Wire & Cable Solutions Division to suffer subsequent declines and production limitations. These funds will increase the financial flexibility of the company and are to be used at group level to ensure the continuation of business operations.

Source: The North Africa Journal March 23, 2020 08:37 UTC