Norma Group sales increased 1.5% to EUR 1.1 billion in 2019.

Organic sales revenues declined 2% due to “the persistently difficult situation in the automotive industry and declining production and sales figures.”

Adjusted EBITA dropped 16.4% to EUR 144.8 million with a margin decline to 13.2%.

“The volatile market environment and tense geopolitical situation had a negative impact on our business,” stated COO Friedrich Klein.  “The consequences of the spread of COVID-19 cannot be assessed at this point in time and have an impact on our business.”

Sales in Europe, the Middle East and Africa fell 1.8% to EUR 486 million, hurt by weak development in the EU automotive market.

In the Americas, NORMA Group achieved slight sales growth of 2.1% to EUR 450.8 million.

In the Asia-Pacific region, sales grew 10.5% to EUR 163.4 million due to strong growth in the second half of the year “characterized by a revival of business and winning new orders in China.”

During 2019, Norma Group trimmed its workforce 3.8% to 8,521 employees.

“The temporary production interruptions in the EMEA and Americas regions, which were necessary in light of the latest (COVID-19 ) developments and in order to protect the company’s employees, affect the outlook for NORMA Group’s sales and earnings performance,” the company stated. 

“NORMA Group does not expect to achieve its original forecast of around -2 to around -4 percent in terms of organic Group sales development.  The adverse effects of the corona crisis and the measures that have become necessary as a result will also have a negative impact on the Group’s profitability.” 

In March, NORMA Group announced that CEO Michael Schneider “is currently receiving medical treatment for the respiratory disease COVID-19 due to a coronavirus infection.”   COO Friedrich Klein is temporarily assuming leadership.  Web: NormaGroup.com