DGAP-News: NORMA Group SE continues solid growth
(firmenpresse) - DGAP-News: NORMA Group SE / Key word(s): Quarter Results/Interim
Report
NORMA Group SE continues solid growth
06.11.2013 / 07:17
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NORMA Group SE continues solid growth
- Group sales increased by 6.9% to EUR 159.9 million in the third quarter
of 2013
- Group sales improved by 3.3% to EUR 482.7 million in the first nine
months of 2013
- Adjusted EBITA margin of 18.0% in the third quarter and 17.6% over the
first nine months at a consistently high level
- NORMA Group confirms guidance for 2013
Maintal, Germany, 6 November 2013 - NORMA Group SE ('NORMA Group'), a
global market and technology leader for engineered joining technology,
continued on its steady course over the first nine months of financial year
2013. Group sales increased by 3.3% to EUR 482.7 million (previous year:
EUR 467.3 million) between January and September 2013 despite negative
currency effects of EUR 6.3 million. The acquisitions made in 2012 and 2013
contributed EUR 21.2 million. Sales grew organically by 0.1% over the
nine-month period. NORMA Group increased adjusted earnings before interest,
taxes and amortization (adjusted EBITA) by 1.8% year on year to EUR 85.0
million between January and September 2013 (previous year: EUR 83.5
million). This resulted in a consistently high EBITA margin of 17.6%
(previous year 17.9%).
Group sales in the third quarter of 2013 increased by 6.9% quarter on
quarter to EUR 159.9 million (Q3 2012: EUR 149.6 million); 6.3% of this
increase was organic. The adjusted EBITA grew by 12.0% to EUR 28.8 million
in the third quarter (Q3 2012: EUR 25.7 million). The operating EBITA
margin increased substantially year on year to 18.0% (Q3 2012: 17.2%).
'We were able to continue growing from a solid foundation. Positive
acquisition sales in the EMEA and Asia-Pacific regions were complemented by
substantial organic growth in the European market,' says Werner Deggim, CEO
of NORMA Group. 'In Europe, we expect particularly the introduction of the
Euro 6 emissions standard to result in significantly improved and
sustainable sales.' By 30 September 2013, the order backlog had grown year
on year to EUR 230.3 million (30 September 2012: EUR 221.4 million).
Development in the regions
In the EMEA region, the economic development had positive effects on the
development of sales over the first nine months of 2013. Sales in the
region grew by 4.9% to EUR 296.2 million (previous year: EUR 282.5
million). Sales in the EMEA region grew organically by 1.4% over the nine
month period and 6.7% in the third quarter. Additional contributions of EUR
11.2 million to the increase in sales over the first nine months of 2013
came from the acquisitions made in 2012 and 2013. In the EMEA region, NORMA
Group invested in manufacturing facilities particularly in the German,
British and Serbian sites.
In the Americas region, NORMA Group generated EUR 146.3 million in sales
over the first nine months of 2013 (previous year: EUR 152.4 million). The
4.0% decline results from the subdued economic development in the reporting
period and negative currency effects in the amount of 2.5%. Investments
were made mainly in the production facilities in the US plants of Auburn
Hills and St. Clair. NORMA Group continues to expand its production in
Brazil and strengthen its presence in South America by building a
manufacturing plant in Brazil and acquiring manufacturing assets for quick
connectors, including tooling and injection molding machines.
The Asia-Pacific region performed well. Sales in the region grew by 24.1%
to EUR 40.2 million over the nine months of the year (previous year: EUR
32.4 million), helped by the acquisition of Chien Jin Plastic in Malaysia
and Davydick&Co. and Guyco in Australia. The companies manufacture and
sell joining solutions for use in fresh water supply, irrigation and
sanitary systems as well as in agricultural and industrial applications.
Investments focused on building a second facility in China and producing
urea fluid lines at the Chinese plant of Qingdao.
Solid equity ratio
NORMA Group's equity as at 30 September 2013 amounted to EUR 308.9 million,
up 7.1% compared to the end of 2012 (31 December 2012: EUR 288.3 million).
Accordingly, the equity ratio was 37.4% after 41.7% on 31 December 2012.
The decline resulted mainly from the issuance of a EUR 125 million
borrowers note and the corresponding increase in total assets. Net debt as
at 30 September 2013 had improved compared to the year-end 2012 thanks to
the positive cash flow and in spite of the dividend payment and
acquisitions. Ex hedging instruments, net debt amounted to EUR 162.5
million at the end of the third quarter of 2013 (31 December 2012: EUR
174.2 million).
Further increase of workforce
Employee numbers have again increased over the first nine months of 2013 as
a result of NORMA Group's international expansion. NORMA Group had 4,822
employees as at 30 September 2013 (including temporary employees), 320 more
than a year before. In Germany, NORMA Group had 918 employees at the end of
the third quarter.
Guidance for 2013 confirmed
NORMA Group expects consolidated sales to grow moderately year on year in
2013. Furthermore, the acquisitions made in 2012 and 2013 contribute
additional sales of about EUR 26 million. NORMA Group expects its EBITA
margin for financial year 2013 to be in line with the margins of over 17%
posted in 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) Q1-Q3 2013 Q1-Q3 2012 2012
01/01 - 30/ 01/01 - 30/ 01/01 - 31/12/
Income statement 09/2013 09/2012 2012
Sales 482.7 467.3 604.6
Adjusted EBITA 85.0 83.5 105.4
Adjusted EBITA margin 17.6% 17.9% 17.4%
Adjusted earnings per share* 1.48 1.59 1.94
Balance sheet 30/09/2013 30/06/2013 31/12/2012
Total assets 826.2 701.8 692.1
Equity 308.9 298.1 288.3
Equity ratio 37.4% 42.5% 41.7%
Net debt** 162.5 171.9 174.2
Key figures at a glance (in EUR*Pro forma adjusted earnings per share on the basis of the number of shares
millions) Q3 2013 Q3 2012 Q2 2013
01/07 - 30/ 01/07 - 30/ 01/04 - 30/
Income statement 09/2013 09/2012 06/2013
Sales 159.9 149.6 163.5
Adjusted EBITA 28.8 25.7 27.9
Adjusted EBITA margin 18.0 % 17.2% 17.1%
as at 30 September 2013
**Net debt excluding hedging instruments
Adjustment: In 2012 adjusted by non-recurring / non-period-related costs
(mainly due to the IPO), restructuring costs as well as other group and
normalized items and depreciation from PPA adjustments. In 2013 adjusted by
depreciation from PPA adjustments.
The full report for the third quarter of 2013 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 preliminary figures for financial year 2013 is
scheduled for 19 February 2014.
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 over
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. In 2012, NORMA Group generated sales of around EUR
605 million. 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 has been listed on the German stock
exchange and included in the MDAX stock 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 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 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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06.11.2013 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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238119 06.11.2013
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