NORMA Group completes a challenging financial year 2024 with a stable level of profitability

NORMA Group achieved a sound level of profitability despite a challenging market environment. The preliminary, unaudited figures for financial year 2024 presented today show that the company has met its targets in terms of sales, margin and cash flow in line with the forecast published in March 2024.

CEO Guido Grandi: “We delivered a respectable and stable level of profitability in a challenging market environment. Sluggish economic development in the automotive and construction industries impacted our business development. Yet thanks to the operational efficiency measures and targeted sales initiatives implemented as part of our ‘Step Up’ program, we managed to hold our own well and deliver a sound result.”

Preliminary, unaudited figures show NORMA Group with Group sales of EUR 1,155.1 million in financial year 2024, a decrease of 5.5 percent compared to the prior-year period (2023: EUR 1,222.8 million). There was a positive contribution of 0.2 percent to sales growth from the acquisition of the Italian irrigation specialist Teco. Currency effects, on the other hand, had a negative impact of 0.3 percent. Adjusted earnings before interest and taxes (adjusted EBIT) of EUR 92.3 million was 5.3 percent below the previous year’s figure (2023: EUR 97.5 million). The adjusted EBIT margin amounted to 8.0 percent and was thus stable compared to the prior year (2023: 8.0 percent). Net operating cash flow reached EUR 105.4 million, making the figure significantly stronger than in the prior year (2023: EUR 87.3 million).

Q4 marked by weak demand

According to preliminary, unaudited figures, Group sales in the period from October to December 2024 totaled EUR 266.8 million, a decrease of 6.9 percent compared to the same quarter of the previous year (Q4 2023: EUR 286.7 million). Currency effects had a positive impact of 0.4 percent. Customer demand was particularly weak in Europe and China, putting pressure on sales volume. Adjusted EBIT amounted to EUR 19.5 million in the fourth quarter, 15.1 percent below the prior-year figure (Q4 2023: EUR 23.0 million). The adjusted EBIT margin was 7.3 percent (Q4 2023: 8.0 percent).

Divestment process for the Water Management business planned

In the future, NORMA Group intends to focus to an even greater extent on its core business as a market leader in joining technology. At the end of November 2024, the company announced plans to initiate a process to sell the Water Management business.

Guido Grandi: “In an effort to enhance our profile and achieve our growth targets, we want to sell the global water management activities. At the same time, we will do everything we can to expand our market position, particularly in the industrial business, both organically and through targeted acquisitions. In the months ahead, we will continue to move forward with the divestment process and our growth initiatives.”

Further dates: final figures and outlook for 2025

NORMA Group will present the audited, comprehensive figures for financial year 2024 with detailed information on business development and sustainability metrics along with the forecast for the current financial year on March 31, 2025.

NORMA Group in figures

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.