DGAP-News: NORMA Group AG still on course for success
(firmenpresse) - DGAP-News: NORMA Group AG / Key word(s): Half Year Results/Quarter
Results
NORMA Group AG still on course for success
14.08.2012 / 07:07
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NORMA Group AG still on course for success
- Group sales up 7.4% in the first half of 2012 to EUR 317.7 million
- Adjusted EBITA improves by 7.3% to EUR 57.8 million
- Particularly positive sales growth in the Americas and Asia-Pacific
- Outlook for 2012 financial year confirmed
Maintal, Germany, 14 August 2012 - NORMA Group AG ('NORMA Group'), an
international market and technology leader in engineered joining
technology, had a very successful first half in 2012. Group sales increased
by 7.4% between January and June 2012 to EUR 317.7 million (first half of
2011: EUR 295.9 million). Organic growth came to 3.4%. Positive currency
effects (+2.9%) and the acquisition of the Swiss company Connectors
Verbindungstechnik AG (+1.1%) on 19 April also contributed to the increase
in revenues. Adjusted operating earnings (adjusted EBITA) rose to EUR 57.8
million in the first half of 2012, a significant increase of 7.3%.The
adjusted EBITA margin was 18.2% in the first half of 2012, similar to the
high level of the first half of 2011.
'NORMA Group is still on course for growth. We are satisfied with our
performance in the first half of the year. We improved our sales and
earnings once again, despite challenging economic conditions. Our order
backlog remains high, showing that global demand for our products remains
healthy,' said Werner Deggim, CEO of NORMA Group. The order backlog
totalled EUR 229.3 million at the end of the first half of 2012, a 5.5%
increase over the same period in the previous year (EUR 217.3 million).
'Our consistent growth is shoring up NORMA Group's leading position in the
market for high-quality joining technology and is confirmation of our
growth strategy. We are confident that we will achieve our sales and
earnings targets for 2012.'
Strong growth in the Americas and Asia-Pacific, slight decline in EMEA
Despite the overall economic situation, sales in the EMEA (Europe, Middle
East, Africa) region only posted a minor decline in the first half of 2012.
Sales in this region decreased by 1.0% to EUR 192.4 million (first half of
2011: EUR 194.2 million). Over the coming months, NORMA Group will
construct a new production hall in Newbury in the United Kingdom in order
to meet the increased demand for NORMACONNECT(R) V profile clamps in
Europe.
NORMA Group drove up sales by 21.9% in the Americas region thanks to robust
demand and positive currency trends. Sales increased to EUR 104.3 million
in the first half of 2012 (first half of 2011: EUR 85.6 million). The
positive development of the US-based companies R.G.Ray (NORMA Illinois) and
Craig Assembly (NORMA St. Clair) acquired in 2010 also contributed to it.
The Asia-Pacific region also posted another significant increase in sales
over the first half of 2012. Sales increased by 31.0% to EUR 21.0 million
(first half of 2011: EUR 16.1 million). NORMA Group is expanding its
presence in the Asia-Pacific region due to the increasing importance of the
area. After opening its offices in Vietnam at the beginning of the year,
NORMA Group put new branches into operation in the Philippines and
Indonesia in May 2012. NORMA Group is opening a new production facility in
Talegaon, near Pune in India, to meet the increasing demand for engineered
joining technology in India. The facility is scheduled to begin production
in 2012. In addition to expanding production in England, NORMA Group set up
new production capacities for NORMACONNECT(R) V profile clamps in Qingdao,
China.
Equity situation strengthened - solid equity ratio of 39.0%
As at 30 June 2012, NORMA Group's statement of financial position included
equity of EUR 268.5 million, representing an increase of almost 5% compared
to year end 2011 (31 December 2011: EUR 256.0 million). The equity ratio
remained largely unchanged at 39.0%, despite paying out EUR 19.1 million in
dividends for the 2011 financial year in the previous quarter. Net debt
totalled EUR 224.6 million on 30 June 2012, EUR 26.1 million higher than on
31 December 2011 (EUR 198.5 million). This increase was among others due to
the acquisition of Connectors Verbindungstechnik AG and the dividend
payment. As at the end of the first half of 2012, adjusted earnings per
share increased by 15% to EUR 1.09, compare to the previous year.
Including temporary employees, NORMA Group's workforce grew once again,
primarily due to the company expanding its production capacities. NORMA
Group had 4,485 employees as at 30 June 2012, 209 more than a year before.
NORMA Group had 921 employees in Germany as at the reporting date of 30
June 2012.
Outlook for 2012 confirmed
NORMA Group remains committed to the outlook for the 2012 financial year
published in its 2011 financial report. NORMA Group still expects sales
growth of between 3% and 6% in the 2012 financial year. NORMA Group will
also enjoy around EUR 10 million in sales from the consolidation of the
newly acquired Swiss company Connectors Verbindungstechnik AG, as well as
around EUR 3 million from the acquisition of Nordic Metalblok S.r.l in
Italy in July. The 2012 EBITA margin should be at least equivalent to the
adjusted margin of the two previous years (2010: 17.4%, 2011: 17.7%). NORMA
Group's forecast is backed up by the order entry in the first half of 2012
and the consistently healthy order backlog.
NORMA Group AG - in figures
Key figures at a glance (in Financial Year
EUR million) H1 2012 H1 2011 2011
01.01. - 01.01. - 01.01. -
Income statement 30.06.2012 30.06.2011 31.12.2011
Sales 317.7 295.9 581.4
Adjusted EBITA 57.8 53.9 102.7
Adjusted EBITA margin 18.2% 18.2% 17.7%
Adjusted earnings per
share* 1.09 0.95 1.81
Balance sheet 30.06.2012 30.06.2011 31.12.2011
Total assets 687.9 615.2 648.6
Total equity 268.5 228.5 256.0
Equity ratio 39.0% 37.1% 39.5%
Net debt 224.6 223.9 198.5
Key figures at a glance (in*Pro-forma adjusted earnings per share based on shares as of 30 June 2012
EUR million) Q2 2012 Q2 2011 Q1 2012
01.04. - 01.04. - 01.01. -
Income statement 30.06.2012 30.06.2011 31.03.2012
Sales 158.0 145.5 159.7
Adjusted EBITA 28.6 25.5 29.2
Adjusted EBITA margin 18.1% 17.5% 18.3%
The complete report for the first half of 2012 is available at
www.normagroup.com/publications.
More information is available from the Investor Relations section at
www.normagroup.com.
Upcoming events
The figures for the third quarter of the 2012 financial year will be
published on 13 November 2012.
Contact
Daphne Recker
Media Relations
E-mail: daphne.recker(at)normagroup.com
Phone: +49 6181 610 2743
Andreas Trösch
Investor Relations
E-mail: andreas.troesch(at)normagroup.com
Phone: +49 6181 610 2741
About NORMA Group
NORMA Group is an international market and technology leader in engineered
joining technology. The company manufactures a wide range of innovative
engineered joining technology solutions in three product categories (clamp,
connect and fluid) and offers about 35,000 high-quality products and
solutions to approximately 10,000 customers in 90 countries. NORMA Group
joining products can be found in vehicles, ships, trains, aircraft,
domestic appliances, engines and plumbing systems as well as in
applications for the pharmaceutical and biotechnology industry. NORMA Group
generated sales of around EUR 580 million in 2011. With around 4,500
employees, NORMA Group operates a global network of 18 production
facilities as well as numerous sales and distribution sites across Europe,
the Americas and Asia-Pacific. NORMA Group has its headquarters in Maintal
near Frankfurt am Main, Germany. The company was formed in 2006 as a result
of the merger between the German Rasmussen Group and the Swedish ABA Group.
Since April 2011, NORMA Group is listed on the German stock exchange and
included in the SDAX index since June 2011.
Disclaimer
This press release contains certain future-oriented statements.
Future-oriented statements include all statements which do not relate to
historical facts and events and contain future-oriented expressions such as
'believe', 'estimate', 'assume', 'expect', 'forecast', 'intend', 'could' or
'should' or expressions of a similar kind. Such future-oriented statements
are subject to risks and uncertainties since they relate to future events
and are based on the company's current assumptions, which may not in the
future take place or be fulfilled as expected. The company points out that
such future-oriented statements provide no guarantee for the future and
that the actual events including the financial position and profitability
of the NORMA Group AG and developments in the economic and regulatory
fundamentals may vary substantially (particularly on the down side) from
those explicitly or implicitly assumed in these statements. Even if the
actual assets for the NORMA Group AG, including its financial position and
profitability and the economic and regulatory fundamentals, are in
accordance with such future-oriented statements in this press release, no
guarantee can be given that this will continue to be the case in the
future.
End of Corporate News
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14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: NORMA Group AG
Edisonstr. 4
63477 Maintal
Germany
Phone: +49 (0)6181-6102-741
Fax: +49 (0)6181-6102-7641
E-mail: ir(at)normagroup.com
Internet: www.normagroup.com
ISIN: DE000A1H8BV3
WKN: A1H8BV
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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181516 14.08.2012
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Datum: 14.08.2012 - 07:07 Uhr
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