NORMA Group closes the 2022 financial year with significant growth and an EBIT margin of 8 percent
Maintal, Germany, February 14, 2023
- According to preliminary figures, sales up 13.8 percent to EUR 1.2 billion
- Preliminary adjusted EBIT margin at 8.0 percent
- Net operating cash flow at EUR 65.3 million according to unaudited figures
- Good fourth quarter signals stabilization at the end of a challenging year
NORMA Group stabilized its business at the end of 2022 in the midst of a challenging environment. According to the preliminary figures presented today, the company closed the past financial year with adjusted earnings before interest and taxes (EBIT) of EUR 99.0 million and an adjusted EBIT margin of 8.0 percent.
Group sales were up 13.8 percent year-on-year to EUR 1,243.0 million in financial year 2022 (2021: EUR 1,091.9 million). Positive currency effects, particularly in connection with the US dollar, contributed 6.7 percent to sales growth. Organically, sales grew by 7.1 percent. This growth was driven by NORMA Group’s consistent pricing policy in the face of dramatic increases in the cost of materials and intermediate products, a strong final quarter in the European business and continued robust business with water management products in the USA.
CEO Miguel Ángel López Borrego: “The headwinds we faced throughout the past financial year were quite severe at times: drastic increases in the price of materials, uncertainties surrounding energy supplies in Europe, the lengthy and strict corona measures in China and production backlogs at some sites. NORMA Group did a good job overall of holding its own and growing in the face of these multiple obstacles. But we are not satisfied with the result. We want to expand on the momentum from the decisive spurt we had in the fourth quarter. We will use the weeks and months ahead to focus on previously untapped growth potential in the high-margin industrial and water businesses.”
Strong fourth quarter result
According to preliminary figures, sales in the fourth quarter showed significant growth of 17.1 percent year-on-year to EUR 302.1 million (Q4 2021: EUR 258.1 million). Organically, i. e. currency-adjusted, sales were up 11.3 percent. At EUR 19.3 million, adjusted EBIT was 7.5 percent higher than in the prior-year period (Q4 2021: EUR 17.9 million). The adjusted EBIT margin of 6.4 percent was slightly below the level of the prior year (Q4 2021: 6.9 percent).
Outlook and other dates
NORMA Group will present the final, comprehensive figures for financial year 2022 with detailed information on the segments as well as information on the sustainability performance indicators and the forecast for the current financial year on March 28, 2023.
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* Deviations in decimal places may occur due to commercial rounding.
** Information on the prior-year adjustments can be found in the Annual Report 2021 (p. 192 f.).
The business figures in this press release are preliminary and have not yet been approved by the Supervisory Board or audited by an external auditor. Additional information on the business results can be found here. For press photos, please visit our Press Area.