DGAP-News: NORMA Group AG starts financial year 2013 with stable sales
(firmenpresse) - DGAP-News: NORMA Group AG / Key word(s): Quarter Results/Forecast
NORMA Group AG starts financial year 2013 with stable sales
07.05.2013 / 07:11
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NORMA Group AG starts financial year 2013 with stable sales
- With EUR 159.3 million, sales over the first three months almost
unchanged
- Adjusted EBITA slightly down by 2.9% to EUR 28.3 million
- Guidance for financial year 2013 confirmed
Maintal, Germany, 7 May 2013 - NORMA Group AG ('NORMA Group'), a global
market and technology leader for engineered joining technology, generated
nearly stable sales and earnings in the first quarter of 2013 compared to
the reference period in the previous year. Group sales over the first three
months of the year amounted to EUR 159.3 million, in line with the previous
year (EUR 159.7 million; minus 0.3%). Adjusted operating earnings (EBITA)
of NORMA Group declined slightly by 2.9% to EUR 28.3 million in the first
quarter of 2013 (previous year: EUR 29.2 million). As a result, the
adjusted EBITA margin for the first three months of the financial year
amounted to 17.8% (previous year: 18.3%).
'We are pleased that we could maintain stable sales in the first quarter of
2013 compared to previous year's quarter, given the still uncertain
economic development in Europe. The operating margin remains at a
consistently high level,' says Werner Deggim, CEO of NORMA Group. With EUR
229.1 million, the order backlog as at 31 March 2013 had increased quarter
on quarter (31 December 2012: EUR 215.4 million).
Acquisitions as growth drivers in EMEA and Asia-Pacific
NORMA Group's sales in the EMEA region increased slightly in the first
quarter of 2013 in spite of the overall economic situation. Sales improved
by about 1.1% from EUR 99.2 million in the previous year to EUR 100.3
million, with contributions coming from the acquisitions of Connectors
Verbindungstechnik in Switzerland, Nordic Metalblok in Italy and Groen
Bevestigingsmaterialien in the Netherlands in 2012.
In the Americas region, sales over the first three months of 2013 declined
by close to 7% from a high EUR 50.2 million in the previous year to EUR
46.7 million on the back of the sluggish economic development in the US.
Business in the Asia-Pacific region performed well. Sales in the first
quarter of 2013 increased by 19.6% to EUR 12.3 million (previous year: EUR
10.3 million), largely as a result of the acquisition of Chien Jin Plastic
in 2012 and the takeover of the distribution business of the Australian
Davydick in January 2013. Davydick has been selling joining products for
irrigation systems as well as valves and pumps particularly for agriculture
and the sanitary and household goods sectors for over 20 years.
Solid capital position for the Group
NORMA Group again improved its equity by EUR 17.3 million to EUR 305.6
million by 31 March 2013 (31 December 2012: EUR 288.3 million). The equity
ratio increased to 42.4% compared to 41.7% at year-end 2012. Net debt ex
hedging instruments further decreased and amounted to EUR 172.7 million at
the end of the first quarter (31 December 2012: EUR 174.2 million).
Acquisitions in 2012 and 2013 and the expansion of existing facilities grew
the workforce including temporary staff to 4,666 on 31 March 2013. This
represents an increase of 190 employees compared to the previous year.
Guidance for 2013 confirmed
The forecast for 2013 as published in the annual report 2012 remains
unchanged. 'Although the economic environment proves difficult, we remain
confident that we can reach our targets for the year,' says Werner Deggim.
NORMA Group expects sales at Group level to grow moderately year on year in
2013. The company projects additional sales of about EUR 20 million from
the acquisitions of the years 2012 and 2013. The Company anticipates an
EBITA margin in line with the adjusted margin of over 17% achieved over the
three previous years (2010: 17.4%; 2011: 17.7%; 2012: 17.4%).
NORMA Group AG - in figures
Key figures at a glance (in*Net debt excluding hedging instruments (Q1/2013: EUR 27.6 million).
EUR millions) Q1 2013 Q1 2012 Q4 2012
01.01. - 01.01. - 01.10. -
Income statement 31.03.2013 31.03.2012 31.12.2012
Sales 159.3 159.7 137.3
Adjusted EBITA 28.3 29.2 21.9
Adjusted EBITA margin 17.8% 18.3% 15.9%
Balance sheet 31.03.2013 31.12.2012
Total assets 720.3 692.1
Equity 305.6 288.3
Equity ratio 42.4% 41.7%
Net debt* 172.7 174.2
Adjustments: In 2012 and 2013 by depreciation from PPA adjustments.
The full report for the first three months of 2012 is available for
downloading from www.normagroup.com/publications. Additional information is
available from the Investor Relations section at www.normagroup.com.
Upcoming events
The publication of the financial numbers for the second quarter of
financial year 2013 is scheduled for 07 August 2013.
Contact
Daphne Recker
Media relations
E-mail: daphne.recker(at)normagroup.com
Tel: +49 (0)6181 - 610 2743
Andreas Trösch
Investor Relations
E-Mail: andreas.troesch(at)normagroup.com
Tel: +49 (0)6181 - 610 2741
About NORMA Group
NORMA Group is a global market and technology leader for engineered joining
technology. The company manufactures a broad range of innovative engineered
joining technology solutions in three product categories (clamp, connect
and fluid) offering over 30,000 high quality products and solutions to
about 10,000 customers in 100 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 605
million in 2012. With around 4,500 employees, NORMA Group operates a global
network of 19 production facilities as well as numerous sales and
distribution sites across Europe, the Americas and Asia-Pacific. The
company has its headquarters in Maintal near Frankfurt am Main, Germany.
NORMA Group was formed in 2006 as a result of the merger of 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 MDAX index since
March 2013.
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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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: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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209916 07.05.2013
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