News

Norma Group Reports Higher Revenue and Adjusted Earnings

1 Mins read

Norma Group, a German machine-part manufacturer, has announced an increase in revenue and adjusted earnings for the second quarter. This growth can be attributed to higher demand from the automotive industry and effective price management, which offset a decrease in demand in the water-management sector.

Financial Highlights

For the second quarter, Norma Group achieved an aftertax profit of EUR 10.6 million, compared to EUR10 million in the same period last year. Meanwhile, revenue rose by 1.9% to EUR324 million. This growth was driven by increased demand in the Europe, Middle East, and Africa (EMEA) as well as the Asia-Pacific regions. However, there was a decline in the Americas due to unfavorable currency effects and strong figures from the previous year.

Furthermore, adjusted earnings before interest and taxes (EBIT) experienced a significant increase, reaching EUR27.1 million compared to EUR22.3 million. The company also achieved a higher margin of 8.4%, up from 7%.

Future Outlook

Despite acknowledging the challenging business environment in the second half of the year, Norma Group remains optimistic. They expect organic sales to grow in the mid-single-digit range for 2023 and anticipate maintaining an adjusted EBIT margin of around 8%.

Related posts
News

Anglo American 2023 Financial Overview

2 Mins read
Revenue Forecast The diversified mining major is expected to post a full-year revenue of $30.83 billion, a decline from the prior-year’s figure…
News

National Australia Bank First-Quarter Profit Decline

1 Mins read
In its recent update, National Australia Bank (NAB) announced a decline in profit for the fiscal first quarter compared to the previous…
News

Mondelez Resilience in Tough Times

2 Mins read
As the dust settles on a challenging earnings season for consumer staples companies, Mondelez strides ahead. Despite inflation-driven price hikes squeezing consumer…

Leave a Reply

Your email address will not be published. Required fields are marked *