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NORMA Group SE Earnings Release 2015
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Earnings Release
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Corporate | 4 November 2015 07:14
NORMA Group SE nach neun Monaten auf solidem Wachstumskurs
DGAP-News: NORMA Group SE / Key word(s): Quarter Results/9-month figures
2015-11-04 / 07:14
NORMA Group SE on a solid growth path after nine months
– Sales increased by 29.7% to EUR 672.6 million in the first nine months of 2015
– Adjusted EBITA rose by 30.8% to EUR 120.6 million
– Adjusted EBITA margin of 17.9% remained at a sustained high level
– Growth in all three regions, EMEA, the Americas and Asia-Pacific
– Outlook for financial year 2015 confirmed
Maintal, Germany, 4 November 2015 – NORMA Group SE (“NORMA Group”), a global market leader in engineered joining technology, continued its growth in the first nine months of financial year 2015. Sales rose by 29.7% to EUR 672.6 million compared to the first nine months of 2014 (Q1-Q3 2014: EUR 518.5 million). This includes acquisitive growth of 20.3%. Adjusted earnings before interest, taxes and amortisation of intangible assets (adjusted EBITA) rose by 30.8% to EUR 120.6 million (Q1-Q3 2014: EUR 92.3 million). The adjusted EBITA margin improved to 17.9% and thus remained at a sustained high level (Q1-Q3 2014: 17.8%).
“We are satisfied with the first nine months of financial year 2015. Organic growth has continued to improve, although the global macroeconomic environment is still showing restraint,” says Werner Deggim, CEO of NORMA Group. “At the same time, we are seeing positive developments, for instance in the Western European and US markets. We remain committed to our growth objectives for financial year 2015.”
Group sales in the third quarter of 2015 rose by 31.9% to EUR 218.3 million compared to the same quarter of the previous year (Q3 2014: EUR 165.5 million). Adjusted EBITA increased by 34.7% to EUR 39.3 million (Q3 2014: EUR 29.2 million). The adjusted EBITA margin rose to 18.0% (Q3 2014: 17.6%). Order backlog as of the reporting date 30 September 2015 amounted to EUR 289.1 million and was thus 9.8% higher than the comparable figure for the previous year (30 September 2014: EUR 263.4 million).
Growth in all three regions
Sales in the EMEA region (Europe, Middle East and Africa) increased by 3.4% in the first nine months of 2015 to EUR 314.4 million (Q1-Q3 2014: EUR 304.1 million). The positive trend in the third quarter of 2015 was supported by the moderate upswing and the increase in industrial output in the euro region, in particular.
In the Americas region, sales exceeded the previous year’s figure by 79.3% in the first nine months of 2015 and rose to EUR 303.1 million (Q1-Q3 2014: EUR 169.1 million). The acquisition of National Diversified Sales, Inc., the US company that specialises in water, in October 2014 and positive currency effects, contributed to this sharp increase.
In the Asia-Pacific region, sales rose by 21.4% to EUR 55.0 million in the first nine months of 2015 (Q1-Q3 2014: EUR 45.3 million). This region thus continued to record significant growth despite the current ongoing weak demand in the Chinese automotive market.
Improved equity ratio
Group equity improved by EUR 36.6 million compared to the end of 2014 and amounted to EUR 404.6 million on 30 September 2015 (31 December 2014: EUR 368.0 million). The equity ratio rose to 35.0% at the end of the third quarter (31 December 2014: 34.1%). Net debt excluding hedging instruments declined by 2.7% to EUR 343.4 million on the reporting date (31 December 2014: EUR 352.9 million).
As a result of this international growth, the number of employees at NORMA Group increased by 321 to 6,296 employees worldwide, including temporary employees, on 30 September 2015 compared to year-end 2014 (31 December 2014: 5,975 employees). The company employed a total of 953 people in Germany, including temporary workers, as of 30 September 2015 (31 December 2014: 938 employees).
Outlook for 2015 confirmed
NORMA Group confirms its forecast for financial year 2015. The company expects group sales to grow organically by around a solid 4 to 7% in 2015 compared to 2014. In addition, NORMA Group expects to generate around EUR 110 million in sales from its acquisitions National Diversified Sales, Inc. and Five Star Clamps, Inc. in the USA. In 2015, the MDAX-listed company targets a sustainable adjusted EBITA margin at the level of the previous years of over 17% (2014: 17.5%; 2013: 17.7%).
NORMA Group SE in figures
| Key figures at a glance (in EUR millions) | 1st-3rd Quarter 2015 | 1st-3rd Quarter 2014 | Financial year 2014 |
| Income statement | 01/01 – 30/09/2015 | 01/01 – 30/09/2014 | 01/01 – 31/12/2014 |
| Sales | 672.6 | 518.5 | 694.7 |
| Adjusted EBITA* | 120.6 | 92.3 | 121.5 |
| Adjusted EBITA margin* | 17.9% | 17.8% | 17.5% |
| Balance sheet | 30/09/2015 | 30/09/2014 | 31/12/2014 |
| Total assets | 1,156.3 | 752.1 | 1,078.4 |
| Equity | 404.6 | 354.8 | 368.0 |
| Equity ratio | 35.0% | 47.2% | 34.1% |
| Net debt** | 343.4 | 148.6 | 352.9 |
| Key figures at a glance (in EUR millions) | 3rd Quarter 2015 | 3rd Quarter 2014 | 2nd Quarter 2015 |
| Income statement | 01/07 – 30/09/2015 | 01/07 – 30/09/2014 | 01/04 – 30/06/2015 |
| Sales | 218.3 | 165.5 | 232.9 |
| Adjusted EBITA | 39.3 | 29.2 | 42.1 |
| Adjusted EBITA margin | 18.0% | 17.6% | 18.1% |
*Adjustments: in 2015 including integration costs (EUR 0.6 million), step up effects from PPA (EUR 2.5 million) and depreciation from PPA; in 2014: acquisition related costs and depreciation from PPA
**Net debt ex hedging instruments in the amount of EUR 23.3 million in Q3/2015, EUR 18.2 million in Q3/2014 and EUR 20.2 million in FY 2014
The full report on the third quarter of 2015 is available for downloading from www.normagroup.com/Financial Reports . For more information, please visit the Investor Relations section www. www.normagroup.com/IR .com . For press photos, please visit our platform www.normagroup.com/Images .
Upcoming events
Publication of the preliminary figures for financial year 2015 is scheduled for 17 February 2016.
Contact
Daphne Recker
Group Communications
phone: +49 (0)6181 – 610 2743
e-mail: [email protected]
Andreas Trösch
Investor Relations
phone: +49 (0)6181 – 610 2741
e-mail: [email protected]
About NORMA Group
NORMA Group is an international market and technology leader in engineered joining technology. The company manufactures a wide range of innovative joining technology solutions in three product categories (clamp, connect and fluid) and offers more than 35,000 high-quality products and solutions to more than 10,000 customers in 100 countries. NORMA Group joining products can be found in vehicles, and trains, ships and aircraft, buildings and water management as well as in applications for the pharmaceutical and biotechnology industry. The company generated sales of around EUR 695 million in 2014. With around 6,000 employees, NORMA Group operates a global network of 22 production facilities as well as numerous sales and distribution sites across Europe, the Americas, and Asia-Pacific. NORMA Group has its headquarters in Maintal, Germany. 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.
2015-11-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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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: | [email protected] |
| Internet: | www.normagroup.com |
| ISIN: | DE000A1H8BV3 |
| WKN: | A1H8BV |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart |
| End of News | DGAP News Service |
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| 408485 2015-11-04 |