NORMA Group achieved a sound level of profitability despite a challenging market environment. The preliminary, unaudited figures for the 2024 financial year show that the company has met its targets in terms of sales, margin and cash flow in-line with the forecast.
Group sales reached €1.15 billion in the financial year 2024, a decrease of 5.5% compared to the prior year period (2023: €1.22 billion). There was a positive contribution of 0.2% to sales growth from the acquisition of Italian irrigation specialist Teco Srl. Currency effects, on the other hand, had a negative impact of 0.3%. Adjusted earnings before interest and taxes (adjusted EBIT) of €92.3 million was 5.3% below the previous year’s figure (2023: €97.5 million).
Group sales in the period from October to December 2024 totalled €266.8 million, a decrease of 6.9% compared to the same quarter of the previous year (Q4 2023: €286.7 million). Currency effects had a positive impact of 0.4%. Customer demand was particularly weak in Europe and China, putting pressure on sales volume.
In the future, NORMA Group intends to focus to an even greater extent on its core business as a market leader in joining technology. At the end of November 2024, the company announced plans to initiate a process to sell the Water Management business.
Resignation of NORMA Group CEO
The chairman of the management board of NORMA Group SE, Mr Guido Grandi, has resigned due to differences on the strategy for the company with effect from 17th February 2025.
The supervisory board will conduct a structured search for a new chairman of the management board. For the interim period, the current chairman of the supervisory board, Mr Mark Wilhelms, has been appointed as new chairman of the management board of NORMA Group. Ms Kerstin Müller-Kirchhofs has been appointed for the interim period as new chairperson of the supervisory board of NORMA Group.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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