NORMA reports nine-month growth
10 November 2016
NORMA Group reported sales for the first nine months of 2016 rose by 1.0% to 679.4 million euros. Adjusted EBITA increased 1.6% to 122.6 million euros.
NORMA says organic growth of 1.9% in the nine months was eroded by 0.9% due to negative currency effects.
“Overall, we are pleased with our development in the first nine months of 2016," said Werner Deggim, CEO of NORMA Group. “The sales increase was supported
by good growth in the EMEA region. Sales in the Americas region declined, however, due to the increasingly weaker environment in the commercial vehicle
and agricultural machinery sectors in the US.”
Group sales declined slightly by 0.7% in the third quarter to 216.6 million euros (Q3 2015: 218.3 million). Adjusted EBITA also declined by 1.5% to 38.7
million euros (Q3 2015: 39.3 million). At 17.9%, the adjusted EBITA margin was almost unchanged from 2015.
Nine-month sales in Europe, Middle East and Africa rose by 5.7% to 332.2 million euros driven by good development NORMA’s Engineered Joining Technology
business.
American sales were 4.0% lower from January to September 2016 at 290.8 million euros (Q1-Q3 2015: 303.1 million). Asia-Pacific sales sales rose 2.4% to
56.4 million euros, which meant the region achieved solid growth despite negative currency effects.
The acquisition of Parker Autoline is expected to complete by the end of 2016. NORMA issues 150 million euros promissory note to extend scope for the continued
strategic development and finance the Parker Autoline acquisition.
The Group employed 6,438 people worldwide at the end of September 2016 an increase since end 2015 of 132: mainly due to increased European business activities.
NORMA confirmed it expects Group sales to grow by 2 to 5% in 2016 compared to 2015. In fiscal year 2016, it aims to sustain an adjusted EBITA margin of
more than 17%.
