DGAP-News: NORMA Group SE with solid numbers for the first half of 2013
(firmenpresse) - DGAP-News: NORMA Group SE / Key word(s): Quarter Results/Half Year
Results
NORMA Group SE with solid numbers for the first half of 2013
07.08.2013 / 07:10
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NORMA Group SE with solid numbers for the first half of 2013
- Group sales in the first half of 2013 grew by 1.6% to EUR 322.8 million
- Adjusted EBITA slightly down by 2.7% to EUR 56.2 million
- Guidance for financial year 2013 confirmed
Maintal, Germany, 7 August 2013 - NORMA Group SE ('NORMA Group'), a global
market and technology leader for engineered joining technology, posted
solid numbers for the first half of 2013. Group sales over the first six
months of the year amounted to EUR 322.8 million, up 1.6% year on year (H1
2012: EUR 317.7 million). Adjusted earnings before interest, taxes and
amortization (EBITA) over the six months to June 2013 declined slightly by
2.7% to EUR 56.2 million (H1 2012: EUR 57.8 million). The adjusted EBITA
margin in the first half of this year reached 17.4% (H1 2012: EUR 18.2%).
'Business over the first six months of this year 2013 developed positively.
Sales and earnings were in line with our expectations. We generated a
sustainably strong margin,' says Werner Deggim, CEO of NORMA Group. 'The
European market demonstrated significant growth in spite of the volatile
macroeconomic environment. It was driven by the ramp-up of new motor
generations in connection with the introduction of the Euro 6 emission
standards. The acquisitions in EMEA and Asia-Pacific also made positive
contributions to sales. We confirm our targets for the full year 2013. '
Order backlog as at 30 June 2013 reached EUR 241.8 million, up 5.5% year on
year and quarter on quarter from already high levels (H1 2012: EUR 229.3
million, Q1 2013: EUR 229.1 million).
Different developments in the regions
In the EMEA (Europe, Middle East, Africa) region sales were positive over
the first half of 2013 in spite of the subdued economic environment. Sales
grew by 3.9% to EUR 199.8 million (H1 2012: EUR 192.4 million), helped by
the acquisitions in 2012 and the takeover of the distribution business of
Variant S.A. in Poland completed in May this year. Variant sells joining
products and cable ties to wholesalers and retailers in Eastern Europe.
The Americas region generated sales of EUR 97.6 million over the first six
months of this financial year, down 6.4% from a strong first half of last
year (H1 2012: EUR 104.3 million), whereas sales in the second quarter
improved compared to the first quarter of 2013 due to the positive economic
development in the US.
Revenues in the Asia-Pacific region developed positively. Sales grew by EUR
20.2% to EUR 25.3 million (2012: EUR 21.1 million) largely as a result of
the acquisition of Chien Jin Plastic Sdn. Bhd. in 2012 and the takeover of
the distribution operations of Davydick&Co. Pty Limited in Australia in
January 2013. In June 2013, NORMA Group acquired the Australian Guyco Pty
Limited in order to further strengthen its water management business. The
new acquisition will be consolidated from July 2013. It manufactures and
sells joining products and valves for use in fresh water supply, irrigation
and sanitary systems as well as in agricultural and industrial
applications.
Equity ratio improved, first placement of a borrowers' note
Group capital as at 30 June 2013 increased by EUR 9.7 million toEUR 298.0
million compared to last year (31 December 2012: EUR 288.3 million). The
equity ratio grew from 41.7% at year-end 2012 to 42.5% in spite of the
dividend payments in the amount of EUR 20.7 million. Net debt ex hedging
instruments could be further reduced by 1.3% to EUR 171.9 million as at the
end of the first half of 2013 (31 December 2012: EUR 174.2 million).
In July 2013, NORMA Group placed a EUR 125 million borrowers' note over
five, seven and ten years. 'We used today's attractive interest environment
to make our financing more flexible and long term. This gives us even more
room for additional growth and enabled us to bring down overall financing
costs,' says Dr Othmar Belker, CFO of NORMA Group. 'We are pleased that
investors have shown so much interest. It is testament to NORMA Group's
strength including in the credit market.'
Employee numbers including temporary staff at NORMA Group have grown by 323
employees to 4,808 by 30 June 2013 as a result of the Group's international
expansion (31 December 2012: 4,485 employees). In Germany, NORMA Group had
936 employees including temporary staff on 30 June 2013.
Guidance for 2013 confirmed
NORMA Group expects consolidated sales to grow moderately year on year in
2013. Furthermore, the consolidation of the companies acquired in 2012 and
2013 will lead to additional sales of about EUR 25 million. NORMA Group
expects to generate a sustainable EBITA margin in financial year 2013 that
is in line with the margins of over 17% posted over the past three years
(2010: 17.4%; 2011: 17.7%; 2012: 17.4%).
NORMA Group SE - in figures
Key figures at a glance (in EUR Financial year
millions) H1 2013 H1 2012 2012
01/01 - 30/ 01/01 - 30/ 01/01 - 31/12/
Income statement 06/2013 06/2012 2012
Sales 322.8 317.7 604.6
Adjusted EBITA 56.2 57.8 105.4
Adjusted EBITA margin 17.4% 18.2% 17.4%
Balance sheet 30/06/2013 31/12/2012
Total assets 701.8 692.1
Equity 298.0 288.3
Equity ratio 42.5% 41.7%
Net debt* 171.9 174.2
Key figures at a glance (in EUR*Net debt ex hedging instruments (H1/2013: EUR 21.7 million, H1/2012: EUR
millions) Q2 2013 Q2 2012 Q1 2013
01/04 - 30/ 01/04 - 30/ 01/01 - 31/
Income statement 06/2013 06/2012 03/2013
Sales 163.5 158.0 159.3
Adjusted EBITA 27.9 28.6 28.3
Adjusted EBITA margin 17.1% 18.1% 17.8%
30 million, FY2012: EUR 24.8 million)
Adjustments: In 2012 and 2013 by depreciation from PPA adjustments
The full report for the first half of 2013 is available for download 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 6 November 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 canbe 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 4,800 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.
Since April 2011, NORMA Group SE 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 SE 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 SE, 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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07.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: NORMA Group SE
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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224544 07.08.2013
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