Corporate | 6 May 2015 07:14
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NORMA Group SE / Key word(s): Quarter Results/Interim Report
NORMA Group SE starts with positive momentum into 2015 increasing sales and earnings in the first quarter – Sales in the first quarter of 2015 increased by 24.6% to EUR 221.5 million – Adjusted EBITA improved by 20.2% to EUR 39.2 million – Strong growth in the Americas and Asia-Pacific region – Outlook for financial year 2015 confirmed Maintal, Germany, 6 May 2015 – NORMA Group SE (“NORMA Group”), a global market leader for engineered joining technology, started into financial year 2015 with positive momentum. The MDAX-listed company increased group sales in the first quarter of 2015 by 24.6% to EUR 221.5 million compared to the first three months of the previous year (Q1 2014: EUR 177.8 million). This was primarily driven by strong acquisitive growth. Adjusted earnings before interest, taxes and amortisation (adjusted EBITA) improved by 20.2% to EUR 39.2 million in the first quarter of 2015 (Q1 2014: EUR 32.6 million). The adjusted EBITA margin was 17.7% (Q1 2014: 18.4%). “We continued on our successful course in the first quarter of financial year 2015. The Americas and Asia-Pacific posted strong dynamic growth,” says Werner Deggim, CEO of NORMA Group. “Overall, we are optimistic for the remainder of financial year 2015 and stick with our forecast.” Strong growth in the Americas and Asia-Pacific region Sales in the EMEA (Europe, Middle East and Africa) region amounted to EUR 105.6 million in the first quarter of 2015 and thus declined by 2.6% (Q1 2014: EUR 108.4 million). This is due to the high basis for comparison and the very strong growth NORMA Group experienced in the same quarter of the previous year (Q1 2014: 8.1%), but also a slow economic recovery in Europe. In the Americas (North, Central and South America) region, NORMA Group achieved strong growth in sales of 78.9% to EUR 97.7 million in the first quarter of 2015 (Q1 2014: EUR 54.6 million). This growth was primarily due to the revenues of the water specialist National Diversified Sales, Inc. acquired in October 2014, but also positive currency effects due to the strong performance of the US dollar. NORMA Group achieved sales growth of 23.0% in the Asia-Pacific region to EUR 18.2 million (Q1 2014: EUR 14.8 million). Besides strong organic growth, positive currency effects were also reflected in sales. Group equity ratio increased The group’s equity amounted to EUR 413.4 million on 31 March 2015. This represents an increase of 12.3% compared to the previous quarter (31 December 2014: EUR 368.0 million). As a result of net income for the period and positive currency effects, the equity ratio rose to 34.9% (31 December 2014: 34.1%). Net debt ex hedging instruments increased quarter on quarter to EUR 376.5 million on 31 March 2015 (31 December 2014: EUR 352.9 million). The ratio of net debt to equity (gearing) remained unchanged at 1.0 on 31 March 2015 (31 December 2014: 1.0). Overall, NORMA Group had 6,225 employees including temporary staff on 31 March 2015. This represents a year-on-year increase in headcount by 250 (31 December 2014: 5,975). In Germany, NORMA Group had 978 employees including temporary staff at the end of the first quarter of 2015 (31 December 2014: 938). Outlook for 2015 confirmed NORMA Group confirms its forecast for financial year 2015 as published in its 2014 Annual Report. Compared to 2014, NORMA Group expects group sales in financial year 2015 to grow organically by around a solid 4 to 7%. 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, NORMA Group 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
*Adjustments: in 2015 by integration costs (EUR 0.1 million), Step-Up effects from PPA adjustments (EUR 2.4 million) and depreciations from PPA adjustments; in 2014 by depreciations from PPA adjustments
The full report for the first three months of 2015 is available for download from www.normagroup.com/publications . Additional information is available on the Internet from the Investor Relations section at www.normagroup.com .
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Andreas Trösch
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2015-05-06 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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 SE | |
| Edisonstr. 4 | ||
| 63477 Maintal | ||
| Germany | ||
| Phone: | +49 (0)6181-6102-741 | |
| Fax: | +49 (0)6181-6102-7641 | |
| E-mail: | ir@normagroup.com | |
| 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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