NORMA Group achieves slight growth in fiscal year 2016

MAINTAL, Germany, Feb. 15, 2017 /PRNewswire/ -- NORMA Group, a global market leader in engineered joining technology, grew slightly in fiscal year 2016.

According to preliminary and unaudited figures, sales rose by 0.6 percent to EUR 894.9 million in 2016 compared to the previous year (2015: EUR 889.6 million). The acquisition of Autoline, a manufacturer of quick connectors for fluid lines in motor vehicles with sites in France, Mexico and China, contributed EUR 3.5 million to sales.

Organic growth in 2016 was 0.9 percent compared with 2015. Currency effects negatively impacted sales growth by 0.7 percent. Adjusted earnings before interest, taxes, depreciation and amortization of intangible assets (adjusted EBITA) rose by 0.8 percent to EUR 157.5 million in 2016 compared to the previous year (2015: EUR 156.3 million). At 17.6 percent, the adjusted EBITA margin remained at a consistently high level (2015: 17.6 percent).

According to preliminary figures, the business developed in 2016 in line with the corrected expectations that NORMA Group published in November 2016. Net debt, including hedging instruments, amounted to EUR 394.2 million as of December 31, 2016 (December 31, 2015: EUR 360.9 million).

"Considering the sharp decline in the US commercial vehicle and agricultural machinery markets, we are satisfied with our results for fiscal year 2016," said Werner Deggim, CEO of NORMA Group. "Thanks to our broad geographic and industry-specific positioning, we were able to compensate partially for the decline, for example through our continuously growing water management business."

Slightly negative growth in the fourth quarter of 2016

According to preliminary and unaudited figures, sales decreased by a slight 0.7 percent in the fourth quarter of 2016 to EUR 215.5 million compared to the fourth quarter of 2015 (Q4 2015: EUR 217.0 million). The acquisition of Autoline contributed EUR 3.5 million to fourth quarter sales in 2016. Adjusted EBITA fell by 2.1 percent to EUR 34.9 million in the fourth quarter of 2016 compared to the period October to December 2015 (Q4 2015: EUR 35.6 million). The adjusted EBITA margin was 16.2 percent (Q4 2015: 16.4 percent).

NORMA Group – preliminary figures for fiscal year 2016*

Additional information is available from the Investor Relations section at www.investors.normagroup.com. Please visit our platform www.normagroup.com/images for press photos.

Upcoming events
A comprehensive report with more detailed explanations will be provided upon presentation of the final financial figures for 2016 on March 22, 2017.

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About NORMA Group
NORMA Group is a global market leader in engineered joining technology. The company manufactures a wide range of innovative connecting solutions and water management technology offering more than 35,000 products to customers in 100 countries with around 6,700 employees. NORMA Group operates a global network of 26 production facilities as well as numerous sales and distribution sites across Europe, the Americas, and Asia-Pacific. NORMA Group SE is listed on the German stock exchange (Prime Standard) and included in the MDAX index.

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.

SOURCE NORMA Group

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