07.05.14 07:13
Dow Jones NewswiresPRESS RELEASE: NORMA Group SE starts with positive momentum into 2014 increasing results in the first quarter
DGAP-News: NORMA Group SE / Key word(s): Quarter Results/Monthly
Figures
NORMA Group SE starts with positive momentum into 2014 increasing
results in the first quarter07.05.2014 / 07:13
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NORMA Group SE starts with positive momentum into 2014 increasing results
in the first quarter* Sales between January and March 2014 increased by 11.6% to EUR 177.8
million* Adjusted EBITA in the first quarter 2014 improved by 15.2% to EUR 32.6
million* Positive business development across all three regions, EMEA, the
Americas and Asia-Pacific* Guidance for financial year 2014 confirmed
Maintal, Germany, 7 May 2014 – NORMA Group SE (“NORMA Group”), a global
market and technology leader for engineered joining technology, started
with positive momentum into financial year 2014. The MDAX-listed company
increased group sales and earnings. Group sales in the first three months
of the year grew by 11.6% year on year to EUR 177.8 million (Q1 2013: EUR
159.3 million). Organic growth amounted to 12.6%. While the acquisitions
from the previous year contributed 1.6% to overall growth, negative
currency effects resulted in a 2.6% decline in sales. Adjusted operating
earnings (adjusted EBITA) improved by 15.2% to EUR 32.6 million in the
first quarter of 2014 (Q1 2013: EUR 28.3 million). This brought the
adjusted EBITA margin over the first three months of this financial year to
18.4% (Q1 2013: 17.8%).“As we start into the new year, the company benefits from the macroeconomic
recovery and greater demand for our products that results from the stricter
requirements of the new EURO-6 emissions standard,” says Werner Deggim, CEO
of NORMA Group. “All three reporting segments, EMEA, the Americas and
Asia-Pacific, contributed to the excellent results of the first quarter of
2014. This makes us confident for the remainder of the financial year.” The
order backlog remained strong with EUR 238.5 million on 31 March 2014,
growing by 4.1% year on year (31 March 2013: EUR 229.1 million).Growth across all regions
Sales in the EMEA (Europe, Middle East and Africa) region grew by 8.1% to
EUR 108.4 million in the first quarter of 2014 (Q1 2013: EUR 100.3
million). The macroeconomic recovery and the surge in production of new
engine generations that comply with the legally required EURO-6 emissions
standard contributed to the strong organic growth over the first three
months of the year.In the Americas region (North, Middle and South America), NORMA Group
generated EUR 54.6 million in sales in the first quarter of 2014. This
represents a 16.9% increase compared to EUR 46.7 million in the quarter of
the previous year. On 22 April 2014, NORMA Group started the production of
quick connectors and fluid systems for the automotive and commercial
vehicle industry in Atibaia, Brazil. From June 2014, the new plant will
also produce the exhaust pipe clamps Euro Coupler and Accuseal as well as
the V profile clamps for the South American market. On 28 April 2014, NORMA
Group acquired the business activities of Five Star Clamps Inc., US. The
company manufactures and sells joining solutions for various applications
and industries.Sales in the Asia-Pacific region continued on their positive trend and rose
by 20.4% to EUR 14.8 million (Q1 2013: EUR 12.3 million). In February 2014,
NORMA Group acquired the remaining 15% of the shares in Chien Jin Plastic
Sdn. Bhd., Malaysia, bringing its share in the manufacturer of
thermoplastic joining elements for drinking and domestic water supply
applications as well as irrigation systems to 100%.Strong group-level equity ratio
The Group’s equity amounted to EUR 336.1 million on 31 March 2014. This
represents a EUR 16.2 million increase compared to the previous quarter (31
December 2013: EUR 319.9 million). As a result of partial debt repayments
and strong earnings the equity ratio rose from 38.8% at year-end 2013 to
44.9% at the end of the first quarter of 2014. Net debt ex hedging
instruments remained almost unchanged quarter on quarter at EUR 138.3
million on 31 March 2014 (31 December 2013: EUR 138.2 million). The
consistently positive cash flow development improved leverage (net
debt/EBITDA) to 1.0 by 31 March 2014 (31 March 2013: 1.4).Overall, NORMA Group had 5,186 employees including temporary staff on 31
March 2014. This represents a year-on-year increase in headcount by 520 and
results from last year’s opening of new facilities, expansions of existing
plants and acquisitions. In Germany, NORMA Group had 950 employees
including temporary staff on 31 March 2014.Guidance for 2014 unchanged
In the light of the advantageous business development in the first quarter
of 2014, NORMA Group confirms its guidance for financial year 2014 as
published in its annual report 2013. Compared to 2013, NORMA Group expects
group sales in financial year 2014 to grow organically by around a solid 4
to 7%. In addition, NORMA Group anticipates to generate sales of around EUR
8 million from the acquisitions of Variant S.A., Poland, Guyco Pty. Ltd.,
Australia, and Five Star Clamps Inc., US. In 2014 NORMA Group targets a
sustainable adjusted EBITA margin at the level of the two previous years of
over 17% (2013: 17.7%; 2012: 17.4%).NORMA Group SE – in figures
Key figures at a glance (in EUR
millions) Q1 2014 Q1 2013** Q4 2013
01/01 – 31/ 01/01 – 31/ 01/10 – 31/
Income statement 03/2014 03/2013 12/2013
Sales 177.8 159.3 152.8
Adjusted EBITA 32.6 28.3 27.6
Adjusted EBITA margin 18.4% 17.8% 18.0%Balance sheet 31/03/2014 31/03/2013 31/12/2013
Total assets 748.1 719.9 823.7
Equity 336.1 306.4 319.9
Equity ratio 44.9% 42.6% 38.8%
Net debt* 138.3 172.7 138.2*Net debt ex hedging instruments of EUR 9.0 million (Q1/2014)
Adjustments: In 2013 and 2014 by depreciations from PPA adjustments
**Adjusted to account for the effects from the application of IAS 19R.The full report for the first three months of 2014 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.Upcoming events
The publication of the financial numbers for the second quarter of
financial year 2014 is scheduled for 6 August 2014.Contact
Daphne Recker
Media Relations
E-Mail: daphne.recker@normagroup.com
Tel: +49 (0)6181 – 610 2743Andreas Trösch
Investor Relations
E-Mail: andreas.troesch@normagroup.com
Tel: +49 (0)6181 – 610 2741About 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 30,000 high-quality products and solutions
to around 10,000 customers in 100 countries. NORMA Group joining products
can be found in vehicles, ships, trains, aircraft, domestic appliances,
engines and plumbing systems as well as in applications for the
pharmaceutical and biotechnology industry. The company generated sales of
around EUR 636 million in 2013. With around 5,000 employees, NORMA Group
operates a global network of 21 production facilities as well as numerous
sales and distribution sites across Europe, the Americas, and Asia-Pacific.
The company has its headquarters in Maintal near Frankfurt am Main,
Germany. NORMA Group was formed in 2006 as a result of the merger between
the German Rasmussen Group and the Swedish ABA Group. Since April 2011,
NORMA Group is listed on the German stock exchange and included in the MDAX
index since March 2013.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.End of Corporate News
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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
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