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NORMA Group SE Increases its Sales Forecast for Financial Year 2017
For the regions EMEA, Americas and Asia-Pacific the following organic growth is now expected:
EMEA: organic growth in mid-single digit (%) (previous forecast: “moderate organic growth“),
Americas: organic growth in mid-single digit (%) (previous forecast: “moderate organic growth“)
Asia-Pacific: organic growth in double digit (%) (previous forecast: “organic growth in the high single-digit range“)
In the EMEA region the management board expects a higher organic growth rate due to incremental short term orders. After a good growth in the second quarter 2017 the management board now expects for the Americas region stronger than previously planned organic growth, in particular in the area of commercial vehicles and agricultural machinery. In the Asia-Pacific region faster than expected localizations, in particular in China, lead to a higher organic growth.
For the two distribution channels of NORMA Group the following growth is now expected:
DS: growth in mid-single digit (%) (previous forecast: “moderate growth“),
EJT: growth in mid-single digit (%) (previous forecast: “moderate growth“).
The management board expects additional sales from the already published acquisitions of Autoline, Lifial and Fengfan of around EUR 55 million (previous forecast: “around EUR 45 million from acquisitions”). The management board confirms the adjusted EBITA margin forecast (earnings before interest, taxes and amortization in relation to sales) as “sustainable at the same level as in previous years of more than 17.0 percent.”
On the basis of preliminary, unaudited figures NORMA Group achieved during the second quarter of 2017 sales of around EUR 263 million (first half of the year 2017: around EUR 518 million), this equals an organic growth of 4.9 percent during the second quarter 2017 (first quarter 2017: 4.6 percent, first half of the year 2017: 4.8 percent).
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