NORMA Group has reported a sound level of profitability despite a challenging market environment. The company’s preliminary, unaudited financial results indicate that it met its targets for sales, margin, and cash flow in line with its March 2024 forecast.
Guido Grandi, CEO of NORMA Group, said: “We delivered a respectable and stable level of profitability in a challenging market environment. Sluggish economic development in the automotive and construction industries impacted our business development. Yet thanks to the operational efficiency measures and targeted sales initiatives implemented as part of our ‘Step Up’ program, we managed to hold our own well and deliver a sound result.”
Preliminary results show that NORMA Group generated EUR 1,155.1 million in sales, a 5.5% decline from the previous year (2023: EUR 1,222.8 million). The acquisition of Italian irrigation specialist Teco contributed positively by 0.2 percent, while currency effects had a minor negative impact of 0.3 percent.
Adjusted EBIT stood at EUR 92.3 million, down 5.3 percent from EUR 97.5 million in 2023. However, the adjusted EBIT margin remained steady at 8.0 percent. Notably, net operating cash flow surged to EUR 105.4 million, significantly exceeding the previous year’s EUR 87.3 million.
The fourth quarter of 2024 saw a decline in sales, with revenue reaching EUR 266.8 million—a 6.9 percent decrease from Q4 2023 (EUR 286.7 million). A minor currency effect of 0.4 percent provided some relief, but weak customer demand in Europe and China impacted sales volume.
Adjusted EBIT for Q4 stood at EUR 19.5 million, 15.1 percent lower than the previous year’s EUR 23 million, with an adjusted EBIT margin of 7.3 percent (Q4 2023: 8.0%).
To sharpen its focus on core operations in joining technology, NORMA Group announced plans in November 2024 to divest its Water Management business.
Guido Grandi added: “In an effort to enhance our profile and achieve our growth targets, we want to sell the global water management activities. At the same time, we will do everything we can to expand our market position, particularly in the industrial business, both organically and through targeted acquisitions. In the months ahead, we will continue to move forward with the divestment process and our growth initiatives.”
NORMA Group will release its audited financial results for 2024, including detailed business development insights and sustainability metrics, on March 31, 2025. The report will also include the company’s outlook for the upcoming financial year.
NORMA Group in figures
