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NORMA Group SE on a solid growth path after nine months

  • Sales increased by 29.7% to EUR 672.6 million in the first nine months of 2015
  • Adjusted EBITA rose by 30.8% to EUR 120.6 million
  • Adjusted EBITA margin of 17.9% remained at a sustained high level
  • Growth in all three regions, EMEA, the Americas and Asia-Pacific
  • Outlook for financial year 2015 confirmed

Maintal, Germany, 4 November 2015 – NORMA Group SE (“NORMA Group”), a global market leader in engineered joining technology, continued its growth in the first nine months of financial year 2015. Sales rose by 29.7% to EUR 672.6 million compared to the first nine months of 2014 (Q1-Q3 2014: EUR 518.5 million). This includes acquisitive growth of 20.3%. Adjusted earnings before interest, taxes and amortisation of intangible assets (adjusted EBITA) rose by 30.8% to EUR 120.6 million (Q1-Q3 2014: EUR 92.3 million). The adjusted EBITA margin improved to 17.9% and thus remained at a sustained high level (Q1-Q3 2014: 17.8%).

“We are satisfied with the first nine months of financial year 2015. Organic growth has continued to improve, although the global macroeconomic environment is still showing restraint,” says Werner Deggim, CEO of NORMA Group. “At the same time, we are seeing positive developments, for instance in the Western European and US markets. We remain committed to our growth objectives for financial year 2015.”

Group sales in the third quarter of 2015 rose by 31.9% to EUR 218.3 million compared to the same quarter of the previous year (Q3 2014: EUR 165.5 million). Adjusted EBITA increased by 34.7% to EUR 39.3 million (Q3 2014: EUR 29.2 million). The adjusted EBITA margin rose to 18.0% (Q3 2014: 17.6%). Order backlog as of the reporting date 30 September 2015 amounted to EUR 289.1 million and was thus 9.8% higher than the comparable figure for the previous year (30 September 2014: EUR 263.4 million).

Growth in all three regions
Sales in the EMEA region (Europe, Middle East and Africa) increased by 3.4% in the first nine months of 2015 to EUR 314.4 million (Q1-Q3 2014: EUR 304.1 million). The positive trend in the third quarter of 2015 was supported by the moderate upswing and the increase in industrial output in the euro region, in particular.

In the Americas region, sales exceeded the previous year’s figure by 79.3% in the first nine months of 2015 and rose to EUR 303.1 million (Q1-Q3 2014: EUR 169.1 million). The acquisition of National Diversified Sales, Inc., the US company that specialises in water, in October 2014 and positive currency effects, contributed to this sharp increase.

In the Asia-Pacific region, sales rose by 21.4% to EUR 55.0 million in the first nine months of 2015 (Q1-Q3 2014: EUR 45.3 million). This region thus continued to record significant growth despite the current ongoing weak demand in the Chinese automotive market.

Improved equity ratio
Group equity improved by EUR 36.6 million compared to the end of 2014 and amounted to EUR 404.6 million on 30 September 2015 (31 December 2014: EUR 368.0 million). The equity ratio rose to 35.0% at the end of the third quarter (31 December 2014: 34.1%). Net debt excluding hedging instruments declined by 2.7% to EUR 343.4 million on the reporting date (31 December 2014: EUR 352.9 million).

As a result of this international growth, the number of employees at NORMA Group increased by 321 to 6,296 employees worldwide, including temporary employees, on 30 September 2015 compared to year-end 2014 (31 December 2014: 5,975 employees). The company employed a total of 953 people in Germany, including temporary workers, as of 30 September 2015 (31 December 2014: 938 employees).

Outlook for 2015 confirmed
NORMA Group confirms its forecast for financial year 2015. The company expects group sales to grow organically by around a solid 4 to 7% in 2015 compared to 2014. In addition, NORMA Group expects to generate around EUR 110 million in sales from its acquisitions National Diversified Sales, Inc. and Five Star Clamps, Inc. in the USA. In 2015, the MDAX-listed company targets a sustainable adjusted EBITA margin at the level of the previous years of over 17% (2014: 17.5%; 2013: 17.7%).

The full report on the third quarter of 2015 is available for downloading from www.normagroup.com/publications. For more information, please visit the Investor Relations section www.normagroup.com.

NORMA Group SE in figures

NORMA Group SE on a solid growth path after nine months.pdf

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