DGAP-News: NORMA Group AG generated record-level sales and earnings in the first half
(firmenpresse) - DGAP-News: NORMA Group AG / Key word(s): Half Year Results
NORMA Group AG generated record-level sales and earnings in the first
half
10.08.2011 / 07:12
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NORMA Group AG generated record-level sales and earnings in the first half
of 2011
- 28.3% sales increase in the first half of the year to EUR 296 million
due to organic growth and acquisitions
- Adjusted operating earnings (EBITA) improved by 28.1% to EUR 54 million
- Positive performance in all reporting segments and expansion of global
presence
- Inclusion in SDAX after successful IPO
- Full year guidance raised
Maintal, Germany, 10 August 2011 - NORMA Group AG (NORMA Group), an
international market and technology leader in engineered joining
technology, continues its growth path after a successful IPO in April 2011.
The company increased its sales considerably by 28.3% to EUR 296 million
(H1 2010: EUR 231 million). 19,9% of this came from organic growth, with
acquisitions accounting for 9,7%. NORMA Group's adjusted operating earnings
(adjusted EBITA) rose to EUR 54 million, an increase of 28.1% over the EUR
42 million achieved in the first half of 2010. The adjusted EBITA margin
came to 18.2% in the first half of 2011, on a par with the first half of
the previous year.
'We are extremely satisfied with the development of business. Our
outstanding performance in the first half of 2011 confirms that our growth
strategy is working and reinforces our leading position in the global
market for high-quality joining technology,' said Werner Deggim, CEO of
NORMA Group. In a positive business environment, demand for NORMA Group's
engineered joining technology and system solutions was high across all of
its customer segments and regions in the first six months of the year.
NORMA Group acquired new customers and orders for newly developed products
and improved its sales in its three regional reporting segments - EMEA
(Europe, Middle East, Africa), the Americas and Asia-Pacific. The first
half of 2011 also saw the company expand its production capacities with new
centres in Thailand and Serbia. 'By opening new production facilities we
are expanding our global network and strengthening NORMA Group's presence
in the emerging markets. Our decentralised structure gives us excellent
proximity and access to our customers,' added Deggim.
Increased sales and earnings in all three regional segments
NORMA Group's EMEA (Europe, Middle East, Africa) region delivered a
positive performance in the first half of 2011, both in the eurozone and
the markets of Eastern Europe. External sales improved by 17.6% to EUR 194
million, compared to EUR 165 million in the same period of 2010. The new
site in Serbia, which currently has 40 employees, has already acquired new
customers and generated sales.
NORMA Group's Americas segment also posted improved sales and earnings in
the first half of 2011. Sales improved by 66.2% to EUR 86 million, compared
with EUR 52 million in the previous year. The Group's robust organic growth
and the consolidation effects from last year's acquisition of R.G. Ray and
Craig Assembly in the USA made a positive impact.
The Asia-Pacific segment is performing well and continues to post high
growth rates. NORMA Group's sales rose to EUR 16 million in the first half
of 2011, an increase of 15.2% from EUR 14 million over the previous year.
NORMA Group continued to consistently strengthen its activities in the
Asia-Pacific region by expanding its centres in Asia and opening a new
plant in Thailand. The regional NORMA management team in Singapore
continuously develops and implements the required growth structure.
Inclusion in SDAX
Deutsche Börse included NORMA Group in the stock index SDAX on 20 June 2011
following its successful IPO in April 2011. 'Being included in the SDAX is
an important step in increasing our visibility on the capital market and
reaping the benefits of increased attention from investors,' said Dr.
Othmar Belker, NORMA Group's Chief Financial Officer. The company's
proceeds from the capital increase following the IPO came to EUR 147
million. NORMA Group used the net proceeds to repay part of its financial
liabilities. This improved the company's equity ratio significantly from
13.5% to 37.1%. 'Our improved cost and capital base gives us a solid
foundation for sustainable profitable growth and puts us in an ideal
position to continue NORMA Group's course of expansion,' added Belker.
Moreover, the company implemented a comprehensive refinancing with a total
volume of EUR 375 million. EUR 250 million from a credit facility were used
to fully repay existing loans raised in 2007. NORMA Group also has a
revolving credit line of EUR 125 million at its disposal for financing
future acquisitions and operating activities. The financing group of banks
was expanded in July 2011 by a syndication of the new credit facility to
15.
Outlook: Record sales and margin for the 2011 financial year
NORMA Group revised its sales and earnings forecast upwards on 25 July 2011
in response to healthy demand. Due to the company's positive business
development over the first half of the year and its improved visibility on
the capital market, we expect organic growth between 10% and 12% in the
2011 financial year. This forecast is based on the assumption that the
global economy will continue unchanged and the euro will not get any
stronger against NORMA Group's trading currencies. The consolidation of the
Group's two US acquisitions, R.G. Ray and Craig Assembly, will provide
additional sales of up to around EUR 20 million in 2011. Due to the
positive development of important customer groups the operating EBITA
margin is expected to be near 18% for the 2011 financial year on the back
of NORMA Group's significantly improved sales figures. This forecast
assumes that materials will increase in price in line with the trend
established in the first half of the year as the year progresses.
NORMA Group - in figures
Overview of key financial First half First half Full year
indicators (in EUR millions) of 2011 of 2010 2010
01.01. - 01.01. -
Statement of income 30.06.2011 30.06.2010 31.12.2010
Sales 295.9 230.5 490.4
Adjusted EBITA 53.9 42.1 85.4
Adjusted EBITA margin 18.2% 18.2% 17.4%
Balance sheet 30.06. 2011 31.12.2010
Total assets 615.2 578.8
Equity 228.5 78.4
Net debt 223.9 344.1
Overview of key financial Second quarter Second quarter First quarterThe complete report for the first half of 2011 is available at
indicators (in EUR millions) of 2011 of 2010 of 2011
01.04. - 01.04. - 01.01. -
Statement of income 30.06.2011 30.06.2010 31.03.2011
Sales 145.5 124.4 150.3
Adjusted EBITA 25.5 22.8 28.4
Adjusted EBITA margin 17.5% 18.3% 18.9%
www.normagroup.com.
More information is available from the Investor Relations section at
www.normagroup.com.
Upcoming events:
The figures for the third quarter of the 2011 financial year will be
published on 15 November 2011.
For more information:
Daphne Recker
Media Relations
Email: daphne.recker(at)normagroup.com
Tel.: +49 (0)6181 - 403 553
Andreas Trösch
Investor Relations
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
fluid conveying conduits founded in 1949, and the Swedish ABA Group, a
European leader in engineered joining technology. In 2010, NORMA Group
generated sales 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 the EJT unit, NORMA
Group provides original equipment manufacturers with mission-critical
solutions that are engineered to meet their specific needs. In the DS unit,
NORMA Group leverages its worldwide manufacturing and distribution network
to provide high-quality standardized products under its well-known brands
ABA(c), BREEZE(c), Gemi(c), NORMA(c), R.G. RAY(c), Serflex(c), Serratub(c),
TERRY(c) and Torca(c). 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 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)6181-403-554
Fax: +49 (0)6181-403-1554
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
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135033 10.08.2011Unternehmensinformation / Kurzprofil:
Datum: 10.08.2011 - 07:12 Uhr
Sprache: Deutsch
News-ID 44283
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