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NORMA Group SE: NORMA Group SE publishes preliminary results for the second quarter of 2020

·4-min read

NORMA Group SE / Key word(s): Preliminary Results/Quarter Results
NORMA Group SE: NORMA Group SE publishes preliminary results for the second quarter of 2020

16-Jul-2020 / 12:33 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Maintal, July 16, 2020 - NORMA Group SE (ISIN DE 000A1H8BV3 / WKN A1H8BV, 'NORMA Group'), publishes preliminary figures for the second quarter of 2020, which are below the figures for Q2 2019.

Based on preliminary figures, NORMA Group achieved sales of around EUR 191.5 million in the second quarter of 2020. This corresponds to an organic sales decline of ca. - 33.9% compared to the same quarter of the previous year (Q2 2019: EUR 289.0 million). This was mainly caused by the global effects of the COVID-19 pandemic. Currency effects had a positive impact of around 0.1% in the second quarter of 2020.

The adjusted EBITA was roughly at EUR - 22.5 million in the second quarter of 2020 (Q2 2019: EUR 40.9 million). The result was also affected by expenses amounting to around EUR 20.7 million resulting from the change program "Get on Track", which was published in November 2019. Due to the pulling forward of measures in the scope of the change program, costs amounting to ca. EUR 30 million are now expected for the full year 2020. These costs are not shown as adjustments. Including the aforementioned expenses for "Get on Track" the adjusted EBITA margin was at ca. - 11.8% in the second quarter of 2020 (Q2 2019: 14.2%).

The net operating cash flow reached a positive value of roughly EUR 1.9 million in the second quarter of 2020 (Q2 2019: EUR 28.8 million), even though it was burdened by the not yet cash-effective expenses for "Get on Track" of around EUR 20.7 million.

Due to the uncertainty regarding the effects of the COVID-19 pandemic a guidance for the full year 2020 is still not possible.



Contact:
Andreas Trösch
Vice President Investor Relations, Communications and Corporate Responsibility
E-mail: Andreas.Troesch@normagroup.com
Phone: +49 (0)6181 - 6102 741

Information and Explanation of the Issuer to this News:

Based on preliminary figures, NORMA Group achieved sales of around EUR 445.0 million in the first half of 2020. This corresponds to an organic sales decline of ca. - 21.7% compared to the first half of the previous year (H1 2019: EUR 564.7 million). Currency effects had a positive impact of around 0.5% in the first half of 2020.

The adjusted EBITA was positive at roughly EUR 4.6 million in the first half of 2020 (H1 2019: EUR 80.6 million). The adjusted EBITA margin was at ca. 1.0% (H1 2019: 14.3%) in the first half of 2020. The result was also affected by expenses amounting to around EUR 21.5 million resulting from the change program 'Get on Track', which was published in November 2019.

The net operating cash flow reached a positive value of roughly EUR 8.5 million in the first half of 2020 (H1 2019: EUR 28.6 million), even though it was burdened by the not yet cash-effective expenses for 'Get on Track' of around EUR 21.5 million.

NORMA Group adjusts certain expenses for the operational management of the Company. In the second quarter of 2020 expenses of EUR 0.7 million and EUR 1.5 million in the first half of 2020 were adjusted within EBITA for depreciation on property, plant and equipment from purchase price allocations.

NORMA Group will publish its final figures for the second quarter of 2020 on August 5, 2020. At 2.00 p.m., CEO Dr. Michael Schneider will be available for questions during a conference call.
 

16-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

NORMA Group SE

Edisonstr. 4

63477 Maintal

Germany

Phone:

+49 6181 6102 741

Fax:

+49 6181 6102 7641

E-mail:

ir@normagroup.com

Internet:

www.normagroup.com

ISIN:

DE000A1H8BV3

WKN:

A1H8BV

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1095295


 

End of Announcement

DGAP News Service

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