DGAP-News: NORMA Group AG with successful start into financial year 2011
(firmenpresse) - DGAP-News: NORMA Group AG / Key word(s): Quarter Results
NORMA Group AG with successful start into financial year 2011
17.05.2011 / 07:00
---------------------------------------------------------------------
NORMA Group AG with successful start into financial year 2011
- First quarter sales up considerably by 41.7 % to EUR 150 million due to
organic growth and acquisitions (Q1 2010: EUR 106 million)
- Adjusted EBITA improves by EUR 9.1 million to EUR 28.4 million (Q1 2010:
EUR 19.3 million)
- Adjusted EBITA margin of 18.9 % (Q1 2010: 18.2 %)
- Sales and earnings improve significantly across all reporting segments -
EMEA, the Americas and Asia-Pacific
- Organic sales growth of around 10 % forecasted for full year 2011,
adjusted EBITA margin expected in the order of the previous year (17.4 %)
Maintal, Germany, 17 May 2011 - NORMA Group AG (NORMA Group), an
international market and technology leader for engineered joining
technology, continues its growth track with a successful first quarter of
2011. All three reporting segments - EMEA, the Americas and Asia-Pacific -
improved sales and operating earnings (adjusted EBITDA). 'We had an
excellent start into financial year 2011,' said Werner Deggim, CEO of NORMA
Group. 'Each of our reporting segments contributed to this growth and
strengthened our market position. We want to continue benefiting from the
growth trends in the global markets for engineered joining technologies in
the future. We are confident that we will be able to maintain our expansion
course in financial year 2011.'
Significant increase in total sales
NORMA Group increased total sales to EUR 150 million in the first quarter
of 2011 which equals a 41.7 % improvement compared to the same quarter last
year (Q1 2010: EUR 106 million). A substantial increase in volumes
resulting from a strong demand for NORMA Group's engineered joining
technology products and solutions contributed to this positive development.
Price effects also had a favourable impact. Last year's acquisitions of the
US companies R.G.Ray and Craig Assembly contributed EUR 13 million to NORMA
Group's increased sales figures.
Operating result considerably improved
NORMA Group's adjusted operating earnings (adjusted EBITA) rose to EUR 28.4
million in the first quarter of the current financial year, thus being EUR
9.1 million higher than in the first quarter last year (Q1 2010: EUR 19.3
million). The adjusted EBITA margin went up to 18.9 % in the first quarter
of 2011, compared to 18.2 % in the first quarter of 2010.
Successful IPO in April 2011
NORMA Group has been successfully listed in the Prime Standard of Frankfurt
Stock Exchange on 8 April. The gross proceeds from the capital increase for
the company amounted to around EUR 147 million. Net proceeds were used to
repay part of the financial liabilities and strengthen NORMA Group's equity
base. As part of the subsequent refinancing of the Group's credit lines,
NORMA Group used EUR 250 million from a credit facility to fully repay
existing loans raised in 2007. The company's equity ratio improved from 13
% before the IPO to a current level of notably above 30 %. NORMA Group also
has a revolving credit line of EUR 125 million at its disposal for future
acquisitions and financing operating activities.
'The IPO and our comprehensive refinancing significantly improved our
capital structure and our operational flexibility,' said Dr. Othmar Belker,
NORMA Group's Chief Financial Officer. 'With the favourable results of the
first quarter of financial year 2011, we are now well positioned to
continue our growth path in the future.'
Positive performance of all reporting segments
The EMEA (Europe, Middle East, Africa) segment delivered a positive
performance in the first quarter of the current financial year, both in the
eurozone and high-growth markets of Eastern Europe. Revenues from external
customers improved to EUR 99.9 million, compared to EUR 78.8 million in the
first quarter of 2010. NORMA Group's decision to expand its activities in
these dynamic regional markets is paying off. After start of production in
Russia, NORMA Group's plan to open a new production facility in Serbia
later this year is preceding on schedule.
NORMA Group's Americas segment also posted significantly higher growth
rates for both sales and earnings. Sales improved to EUR 42.6 million,
compared to EUR 21.4 million in the previous year. The positive performance
of the Americas segment is due to strong organic growth as well as
consolidation effects from the acquisitions of US companies R.G.Ray and
Craig Assembly last year.
In the first quarter 2011, NORMA Group also continued its growth path in
its Asia-Pacific segment. Sales figures rose from EUR 5.9 million in the
previous year to EUR 7.9 million in the period under review. In order to
take full advantage of the significant growth opportunities in this region,
NORMA Group aims to expand its facilities in this region and strengthen its
activities, particularly through the plant in Thailand which was opened in
October 2010. As of this year, NORMA Group Management Board member John
Stephenson, the company's Chief Operating Officer and President
Asia-Pacific, is developing the structures necessary for further future
growth in the region.
Outlook: sales and EBITA margin will continue to increase
Provided the global economy continues to improve, for the financial year
2011 NORMA Group expects long-term organic sales growth in the order of
near 10 %. The consolidation of the Group's two acquisitions in the US,
R.G.Ray and Craig Assembly, will result in additional sales of EUR 20
million compared to the previous year. NORMA Group is aiming to use its
ongoing 'Global Excellence' cost reduction programme and other measures for
achieving productivity gains to reach an adjusted EBITA margin in the order
of the previous year's level of 17.4 %. This forecast assumes that the
increase in the price of materials as the year progresses will remain in
line with the trend established in the first quarter.
NORMA Group - in figures
Overview of key financial indicators (in EUR millions)
Statement of income 01.01. - 31.03. 2011 01.01. - 31.03. 2010
Sales 150.3 106.1
Adjusted EBITA 28.4 19.3
Adjusted EBITA margin 18.9% 18.2%
Statement of financial position 31.03. 2011 31.12. 2010
Total assets 601.8 578.8
Equity (pre-capital increase) 75.4 78.4
Net debt (pre-capital increase) 355.5 344.1
The complete report for the first quarter of 2011 is available at
www.normagroup.com.
More information is available from the Investor Relations section at
www.normagroup.com.
Upcoming events:
The results for the second quarter of the 2011 financial year will be
published on 10 August 2011.
For more information:
Media Relations
Daphne Recker
Email: daphne.recker(at)normagroup.com
Tel.: +49 (0)6181 - 403 553
Investor Relations
Andreas Trösch
Email: andreas.troesch(at)normagroup.com
Tel.: +49 (0)6181 - 403 554
About NORMA Group
NORMA Group is a global market and technology leader in attractive niche
markets for engineered joining technology offering more than 35,000 high
quality products and solutions to approximately 10,000 customers in 80
countries. NORMA Group was formed in 2006 through the merger of the German
Rasmussen Group, a manufacturer of connecting and retaining elements and
fluidconveying conduits which was founded in 1949, and the Swedish ABA
Group, a European leader in engineered joining technologies. In 2010, NORMA
Group generated revenues of around EUR 490 million with approximately 3,500
employees. The company manufactures and sells a wide range of innovative
engineered joining technology solutions in three product categories (clamp,
connect and fluid) using two distinct ways-to-market: Engineered Joining
Technology ('EJT') and Distribution Services ('DS'). In EJT, NORMA Group
provides original equipment manufacturers with mission-critical solutions
that are engineered to meet their specific needs. In DS, NORMA Group
leverages its worldwide manufacturing and distribution network to provide
high-quality standardized products under its well known brands ABA(R),
BREEZE(R), Gemi(R), NORMA(R), R.G.RAY(R), Serflex(R), Serratub(R), TERRY(R)
and Torca(R). Headquartered in Maintal, Germany, NORMA Group operates a
global network of 17 manufacturing and distribution facilities as well as
ten sales and distribution sites across Europe, the Americas and Asia
Pacific.
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 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 or described in these statements.
Even if the actual results 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
---------------------------------------------------------------------
17.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: NORMA Group AG
Edisonstr. 4
63477 Maintal
Deutschland
Phone: +49 (0)6181-403-0
Fax: +49 (0)6181-403-210
E-mail: ir(at)normagroup.com
Internet: www.normagroup.com
ISIN: DE000A1H8BV3
WKN: A1H8BV
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
124927 17.05.2011
Datum: 17.05.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 34114
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 317 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: NORMA Group AG with successful start into financial year 2011"
steht unter der journalistisch-redaktionellen Verantwortung von
NORMA Group AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
