NORMA Group achieved a sound level of profitability in the third quarter of 2024 despite a difficult market environment. Group sales in the third quarter were down 7.9% over the prior year to €273.6 million (2023: €297.1 million).
NORMA reports that business with joining technology for vehicles – Mobility & New Energy, suffered under a weak global automotive industry with low production figures for cars and trucks. Sales in the Water Management sector, on the other hand, remained stable at a high-level. The Industry Applications business unit was especially impacted by the persistently weak economy in large parts of Europe and in China.
In the Americas region, sales in the third quarter fell by 1.2% year-on-year to €131.3 million due to negative currency effects in connection with the US dollar (Q3 2023: €132.9 million). Adjusted for currency effects, sales development was slightly positive (up 0.1%).
In the EMEA region sales amounted to €108 million in the third quarter of 2024, down 9.4% on the prior year figure (Q3 2023: €119.3 million).
In the Asia-Pacific region, third quarter sales were down 23.9% to €34.2 million (Q3 2023: €45 million). Currency effects had a slightly positive impact here. Business with customers in the Chinese automotive industry (Mobility & New Energy) declined significantly.
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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