NORMA Group Demonstrates Robust Profitability in Q2 2024

Maintal, Germany, August 13, 2024 – NORMA Group has reported steady profitability in the second quarter of 2024, despite a challenging market environment. Adjusted operating profit stood at EUR 26.1 million, with an EBIT margin of 8.5%. Q2 sales fell by 5.5% from the previous year to EUR 306.3 million. However, a strong net operating cash flow of EUR 43.6 million was achieved.

Growth was observed in the water management sector, though demand weakened in vehicle and industrial applications. The acquisition of Italian irrigation specialist Teco contributed slightly to sales. Regional performance varied, with growth in the Americas but declines in Europe and Asia.

In the first half of 2024, profitability improved overall, with adjusted EBIT rising to EUR 51.8 million despite a 3.8% decrease in sales. The company confirmed its annual forecast, expecting full-year sales of EUR 1.2-1.3 billion and an adjusted EBIT margin of 8.0-8.5%.

Additionally, Kerstin Müller-Kirchhofs was nominated as a new member of the Supervisory Board, enhancing its financial oversight capabilities.