NORMA Group achieves slight growth in fiscal year 2016
- Preliminary sales in 2016 rose by 0.6 percent compared with 2015 to EUR 894.9 million
- Preliminary adjusted EBITA increased by 0.8 percent to EUR 157.5 million
- Preliminary adjusted EBITA margin remained at a sustained high level of 17.6 percent
Maintal, Germany, February 15, 2017 – NORMA Group, a global market leader in engineered joining technology, grew slightly in fiscal year 2016. According to preliminary and unaudited figures, sales rose by 0.6 percent to EUR 894.9 million in 2016 compared to the previous year (2015: EUR 889.6 million). The acquisition of Autoline, a manufacturer of quick connectors for fluid lines in motor vehicles with sites in France, Mexico and China, contributed EUR 3.5 million to sales. Organic growth in 2016 was 0.9 percent compared with 2015. Currency effects negatively impacted sales growth by 0.7 percent. Adjusted earnings before interest, taxes, depreciation and amortization of intangible assets (adjusted EBITA) rose by 0.8 percent to EUR 157.5 million in 2016 compared to the previous year (2015: EUR 156.3 million). At 17.6 percent, the adjusted EBITA margin remained at a consistently high level (2015: 17.6 percent). According to preliminary figures, the business thus developed in 2016 in line with the corrected expectations that NORMA Group published in November 2016. Net debt, including hedging instruments, amounted to EUR 394.2 million as of December 31, 2016 (December 31, 2015: EUR 360.9 million).
“Considering the sharp decline in the US commercial vehicle and agricultural machinery markets, we are satisfied with our results for fiscal year 2016,” said Werner Deggim, CEO of NORMA Group. “Thanks to our broad geographic and industry-specific positioning, we were able to compensate partially for the decline, for example through our continuously growing water management business.”
Slightly negative growth in the fourth quarter of 2016
According to preliminary and unaudited figures, sales decreased by a slight 0.7 percent in the fourth quarter of 2016 to EUR 215.5 million compared to the fourth quarter of 2015 (Q4 2015: EUR 217.0 million). The acquisition of Autoline contributed EUR 3.5 million to fourth quarter sales in 2016. Adjusted EBITA fell by 2.1 percent to EUR 34.9 million in the fourth quarter of 2016 compared to the period October to December 2015 (Q4 2015: EUR 35.6 million). The adjusted EBITA margin was 16.2 percent (Q4 2015: 16.4 percent).
NORMA Group – preliminary figures for fiscal year 2016*