NORMA GROUP Reports Solid First Half

NORMA Group reported solid numbers for the first half of 2013, with Group sales amounting to 322.8 million euros, up 1.6% on the 317.7 million euros in H1 2012. Adjusted operating earnings (EBITA) declined slightly by 2.7% to 56.2 million euros in the first half of the year (2012: 57.8 million euros).

“Business over the first six months of 2013 developed positively,” commented Werner Deggim, CEO of NORMA Group. “Sales and earnings were in line with our expectations and we generated a sustainably strong margin.” He added, “The European market demonstrated significant growth in spite of the volatile macroeconomic environment. It was driven by the ramp-up of new motor generations in connection with the introduction of the Euro 6 emission standards. The acquisitions in EMEA and Asia-Pacific also made positive contributions to sales. We confirm our targets for the full year 2013.”

In the EMEA region (Europe, Middle East and Africa) sales were positive in spite of the subdued economic environment. Sales grew by 3.9% to 199.8 million euros, helped by the acquisitions in 2012 and the takeover of the distribution business of Varian SA in Poland, which was completed in May. American sales were down 6.4% to 97.6 million euros from a strong first half of last year (H1 2012: 104.3 million euros). However, sales in Q2 improved compared to Q1 2013, due to the positive economic developments in the USA. NORMA Group expects consolidated sales to grow moderately year on year in 2013, with approximately 25 million euros from 2012/13 acquisitions.