DGAP-Adhoc: NORMA Group SE: Adjustment of sales guidance for 2019
DGAP-Ad-hoc: NORMA Group SE / Key word(s): Change in Forecast/Development of Sales
Maintal, October 17, 2019 - NORMA Group SE (ISIN DE 000A1H8BV3 / WKN A1H8BV, 'NORMA Group'), a global market leader in engineered joining and fluid-handling technology, adjusts on the basis of expected development of sales for the full year 2019 and based on the figures for the third quarter of 2019 its forecast for its organic sales growth.
According to the current state of knowledge, the Management Board of NORMA Group SE expects that the group will reach an organic sales growth in the range of around - 4% and
- 2% in the full year 2019 (previously: 'in the range of around - 1% until around 1%').
The main reason for this is a strong decline in the US-American EJT business among other things due to strikes at key customers in the passenger and commercial vehicle sector. The EMEA and Asia-Pacific regions are also slightly below the expectations from July 19, 2019.
For the regions Americas, Asia-Pacific and EMEA the following organic growth is now expected:
The Management Board continuous to expect an adjusted EBITA margin of more than 13% for the full year 2019, as announced on July 19, 2019. In addition, the remaining components of the forecast made in the 2018 Annual Report and the adaption from July 19, 2019 for the full year 2019 remain unchanged.
Based on preliminary, unaudited figures, NORMA Group achieved sales of EUR 274.0 million in the third quarter of 2019. This corresponds to a sales growth of 2.2% compared to the same quarter of the previous year (Q3 2018: EUR 268.1 million), including a decline in organic sales of 0.1%. Revenues from acquisitions contributed 0.2% to growth. Currency effects had a positive impact of 2.1%.
In the third quarter of 2019, the adjusted EBITA margin was at 14.1% (Q3 2018: 16.0%). Net operating cash flow amounted to EUR 37.0 million (Q3 2018: EUR 23.0 million).
Vice President Investor Relations
Phone: +49 (0)6181 - 6102 741
Information and Explanation of the Issuer to this News:
End of Ad hoc disclosure:
NORMA Group adjusts certain expenses for the operational management of the Company. In the third quarter of 2019, expenses of EUR 14.6 million were adjusted within EBITA. These relate to expenses resulting from the rightsizing project initiated in the fourth quarter of 2018 as well as to acquisition costs. In addition to the adjustments described above, depreciation on property, plant and equipment from purchase price allocations were shown as adjusted within EBITA.
* Changes in key figures resulting from the first-time adoption of IFRS 16 are not taken into account in the forecast.
NORMA Group will publish its final figures for the third quarter of 2019 on November 6, 2019. At 2.00 p.m., the Management Board will be available for questions during a conference call.
17-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||NORMA Group SE|
|Phone:||+49 6181 6102 741|
|Fax:||+49 6181 6102 7641|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||891943|
|End of Announcement||DGAP News Service|
891943 17-Oct-2019 CET/CEST
Currently there is a rather positive sentiment for NORMA Group SE with 4 Buy predictions and 0 Sell predictions.
On the other hand, the target price of €39.00 is below the current price of €39.94 for NORMA Group SE, so the potential is actually -2.354%.