Fastener Shanghai
fastener
Official WeChat
fastener
fastenerHomefastener
fastener
fastenerNewsfastener
fastener
fastenerfastenerBuyers' Guidefastener
fastener
fastenerStandard Searchfastener
fastener
fastenerFor Buyersfastener
fastener
fastenerFor Suppliersfastener
fastener
fastenerMagazinefastener
fastener
fastenerTrade Showsfastener
fastener
fastenerMy Officefastener
fastener
fastenerPost Inquiriesfastener
Home->Fastener News->NORMA adjusts full year expectationsYou are the 682362 visitors
Views:210   |   recommendation:   |   Votes:0   |   Discuss:0
NORMA adjusts full year expectations

On preliminary unaudited figures, NORMA Group reported second quarter sales of EUR 289 million, 4.6% up on same quarter 2018, but reflected a decline in organic sales of 0.4%.

Revenues from acquisitions contributed 2.4% to growth. Currency effects had a positive impact of 2.5%. In the second quarter of 2019, the adjusted EBITA margin was at 14.2% (Q2:2018:15.2%).

Based on these figures NORMA announced it was adjusting its full year 2019 expectations of organic sales growth to between -1% and +1% (previously +1% to 3%). It also adjusted its forecast for adjusted EBITA margin to better than 13% (previously between 15% and 17%) and downgraded its net operating cash flow expectation by €10 million to €90 million.

NORMA said the main reason is a weaker-than-expected market environment in the global automotive business, with worldwide trade disputes and sanctions also having a negative impact. This relates to a reluctance to invest, reflected by a continuingly declining business, particularly in the EMEA and Asia-Pacific regions – with particular market weakness in China and India.

NORMA does not foresee a revival in the second half of 2019. ERP development costs in Latin America are expected to negatively affect results.

Source: Fastener + Fixing 

2019/8/7 15:27:00

Previous:    China's home appliance sector expands in H1
        Next:    Dongtai Huawei to Showcase Stainless Steel Fasteners at the 19th Fastener Trade Show Suzhou

Recent Related News
Bossard buys aerospace distribution business--2019-08-21
Nedschroef appoints Dr Matthias Sckuhr as the new CEO--2019-08-21
Former UK fastener manufacturer owner sentenced for bribery--2019-08-20
Sundaram Fasteners to go ahead with capex plan despite auto sector downturn--2019-08-19
Sundram Fasteners Reports Record Revenue and Profits--2019-08-12
Dongtai Huawei to Showcase Stainless Steel Fasteners at the 19th Fastener Trade Show Suzhou--2019-08-07
Bossard completed the acquisition of Boysen--2019-07-30
Bossard results impacted by weaker demand in Q2--2019-07-18
Fastenal's Lower-Than-Expected H1 Revenues as the Negative Outcome of Tariff Battle--2019-07-18
Dongtai Huawei Launches Aluminum Double Hex Head Bolts and Stainless Steel Pre-Embedded Sleeve Bolts--2019-06-06
Würth builds innovation centre--2019-05-31
First Quarter Earnings Announced for Anixter International--2019-04-26

Vote for this news?

fastener(Very Good)
fastener(Good)
fastener(Normal)
fastener(Bad)
fastener(Very Bad)


Discuss
More Discuss...
Your Name: Anonymous

Enter the code shown:fastener2fastener

Fastener Trade Show Suzhou



China Fastener Directory
Get it FREE!
fastener
Get your CFD at the following shows:

•The Fastener Exhibition & Conference, Sep 11-12, 2019, Birmingham, UK

•International Fastener Expo, Sep 17-19, 2019, Las Vegas, USA

•wire & Tube Southeast Asia, Sep 18-20, 2019, Bangkok, Thailand



Show Room



Offer Product

Latest News
• Bossard buys aerospace distribution business

• Nedschroef appoints Dr Matthias Sckuhr as the new CEO

Buyers' Guide
Company News

• Haining R-Best: Focus on Quality, Be the Best Rivet Nut Supplier

• Developments and Future Plans for Shanghai Minmetals – Fasteners

The Way to Enter Chinese Market
The Way to Enter Chinese Market


fastener