The automotive industry and thus NORMA Group’s EJT business were particularly affected by the lockdown and the consequences of the corona pandemic.

With sales of EUR 552.6 million for the full year 2020, the EJT business declined by 17.0% compared to the previous year (2019: EUR 665.5 million; 2020 organic: – 15.8%).

While production figures and thus demand from the Chinese automotive industry already picked up in the second quarter, the demand in the European and US automotive sectors only noticeably recovered in the 4th quarter.

In the Standardized Joining Technology (SJT) business sales in fiscal year 2020 were 8.1% below the previous year’s level at EUR 395.5 million (2019: EUR 430.2 million).

The organic decline in sales amounted to 6.5%, while currency effects had an additional negative impact on sales of – 1.6%.

Although the drop in sales here was much more moderate due to broader sector diversification and a consistently solid US water business, sales were down in all quarters and there was no significant recovery in the course of the year. The US water business, on the other hand, showed solid growth in each quarter and grew organically by 6.7% for the year.

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