PACCAR recognizes NORMA Group for its outstanding supplier services

• Q3 2024 sales down 7.9 percent to EUR 273.6 million
• Stable development in water management sector cannot compensate for decline in automotive and industrial sectors
• Adjusted operating profit (EBIT) at EUR 20.9 million
• Adjusted EBIT margin at 7.7 percent
• Forecast for full year 2024 confirmed at Group level; more details provided regarding business regions

NORMA Group has recognized three of its suppliers for outstanding quality and first-class delivery performance in 2023 with the “Supplier Recognition Award”. The awarded partners are Ascend Performance Materials LLC (“Ascend”) in China, Norder Band AG (“Norder Band”) in Germany and Olympic Steel (“Olympic”) in the USA.

NORMA Group, a market leader in engineered joining technology, has won a patent lawsuit it had filed against a Chinese competitor. The Supreme People’s Court in Beijing ruled at the end of June 2024 that a product from Suzhou Shengnuo Connection Technology Co. Ltd (“Shengnuo”) infringes on a NORMA Group patent for an advanced worm-drive hose clamp. The competitor has been prohibited from manufacturing or selling this clamp. Shengnuo must also pay damages to NORMA Group. The verdict is final.

NORMA Group employees participated in a range of social and environmental projects as part of NORMA Help Day.  “Several hundred colleagues around the world enthusiastically participate in this event every year. NORMA Help Day is an integral part of our corporate responsibility activities.”

NORMA Group is welcoming ten new apprentices today. Over the course of the next two to three and a half years, the secondary school graduates will undergo training at company headquarters in Maintal to become highly sought-after professionals. The new recruits include three future tool mechanics and two prospective machine and plant operators. Also among the apprentices beginning their apprenticeship is a specialists for warehouse logistics, an industrial clerk and three mechatronics technician.

• Robust profitability: Adjusted operating profit (EBIT) at EUR 26.1 million; adjusted EBIT margin at 8.5 percent
• Difficult market environment: Q2 sales down 5.5 percent from prior-year quarter to EUR 306.3 million
• Strong cash flow: EUR 43.6 million net operating cash flow in Q2 2024
• Business development in the first half of 2024 in line with expectations
• Kerstin Müller-Kirchhofs nominated as new member of the Supervisory Board

• NORMA Group’s products support the thermal management of stationary batteries
• VPP Bi-Cone clamps are flange connections designed for leak-proof performance
• Storage facility to mitigate fluctuating availability of wind energy

NORMA Group has been recognized by General Motors, Paccar and Ashok Leyland for its outstanding supplier performance in 2023. The company was presented with the “Supplier Quality Excellence Award 2023” from General Motors and the "PACCAR Quality Achievement Award" from Paccar. NORMA Group also received the “Platinum Award” by Ashok Leyland.