NORMA Group benefited from the ongoing economic recovery and strong customer demand in the second quarter of 2021. The company continued the growth course established in the first quarter and recorded significant growth in sales and earnings compared to the prior year period, which was dominated by the pandemic.
NORMA Group generated sales of €281.7 million in Q2 2021 – a year-on-year increase of 47.1% (Q2 2020: €191.5 million). Organic sales growth was 53%. At €36.8 million, net operating cash flow in Q2 2021 was also significantly higher than in the previous year (Q2 2020: €1.9 million).
CEO Dr Michael Schneider commented: “We performed strongly in all business areas in the second quarter. Resurgent customer demand and further savings from our ‘Get on track’ global change programme are reflected in the substantially higher margin. We have further improved both our flexibility and efficiency and will focus even more closely on the water management, general industry applications and electromobility businesses in the future. We are systematically pressing ahead with our digitalisation initiatives and the strategic management of our product portfolio.”
Strong growth in all business regions
In the EMEA region (Europe, Middle East and Africa), sales increased by 79.5% year-on-year to €123.1 million in Q2 2021 (Q2 2020: €68.6 million). This was due to the huge increase in demand for joining solutions from car manufacturers in Europe combined with a significant recovery in business with standardised joining technology through distributors compared with the same quarter of the previous year, a period that was dominated by the pandemic.
In the Americas region, sales in the second quarter were 34.1% higher than in the prior year quarter at €119.7 million (Q2 2020: €89.3 million). Sales growth resulted from the significant rebound in production figures in the commercial and passenger vehicle sector as well as from further strong business with water management products.
In the Asia-Pacific region, sales grew by 15.5% year-on-year to €38.8 million in the second quarter (Q2 2020: €33.6 million). NORMA Group benefited in particular from continued strong demand for engineered joining solutions from the Chinese automotive industry
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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