NORMA adjusts full year expectations
Views :292 Recommendation: Votes:0 Discuss:0

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 
2019-08-07

Recent Releted News

Vote for this news?
Discuss
More Discuss...
Your Name:
Enter the code shown:
Threaded Rods
Anchors
Washers
Equipments
Search Standards
DIN
IFI
JIS
Exhibitions

Vietnam Manufacturing Expo, Aug 14-16, 2019, Hanoi, Vietnam

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

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

WeChat