NORMA Group Annual General Meeting approves dividend of 75 cents per share
Maintal/Frankfurt am Main, Germany, May 17, 2022
NORMA Group held its Annual General Meeting today. A substantial majority of the Annual General Meeting voted in favor of the distribution of a dividend of 75 cents per share, in line with the proposal of NORMA Group's Supervisory Board and Management Board. This corresponds to a distribution volume of about EUR 23.9 million.
Dr. Michael Schneider, CEO of NORMA Group: “The global economy experienced a noticeable recovery in financial year 2021. This was reflected in increased demand for our joining solutions. Despite what remains a difficult environment dominated by distortions in global supply chains, NORMA Group performed well in 2021. With the distribution of a dividend of 75 cents per share, we want our shareholders to participate in the positive development of our business and return to our payout ratio of 30 to 35 percent of adjusted consolidated Group earnings after the extraordinary year 2020.”
2021 sales once again above one billion euro
NORMA Group again surpassed the one billion euro sales threshold in 2021 following the pandemic-related business decline in the previous year. The company generated Group sales of EUR 1,091.9 million (2020: EUR 952.2 million). This represents a 14.7 percent increase in sales. At EUR 113.8 million, adjusted earnings before interest and taxes (adjusted EBIT) were significantly above the previous year figure, which was impacted by the pandemic (2020: EUR 45.3 million). The adjusted EBIT margin was 10.4 percent, also significantly exceeding the prior-year figure (2020: 4.8 percent).
Annual General Meeting approves all agenda items
For the third time, NORMA Group held its Annual General Meeting as a virtual event without the physical presence of shareholders to protect the health of all shareholders. Shareholders were able to follow the Annual General Meeting via an online portal and could also cast their votes through this portal. A total of 74.22 percent of the voting share capital was represented. The shareholders approved all items on the agenda.
The voting results, the speech by CEO Dr. Michael Schneider as well as additional information on the Annual General Meeting are available on the Investor Relations website.
