Germany-based NORMA Group reported revenue grew 0.6% to EUR 894.9 million (US$ 942.8 million) in 2016, including 0.9% in organic growth for the year.

The acquisition of Autoline, a manufacturer of quick connectors for fluid lines in motor vehicles with sites in France, Mexico and China, contributed EUR 3.5 million to sales.

Adjusted EBITA rose 0.8% to EUR 157.5 million, with the adjusted EBITA margin holding steady at 17.6%.

“Considering the sharp decline in the US commercial vehicle and agricultural machinery markets, we are satisfied with our results for fiscal year 2016,” stated CEO Werner Deggim. “Thanks to our broad geographic and industry-specific positioning, we were able to compensate partially for the decline, for example through our continuously growing water management business.”

Fourth-quarter sales decreased 0.7% to EUR 215.5 million, with adjusted EBITA down 2.1% to EUR 34.9 million and the adjusted EBITA margin slipping to 16.2%. Web: normagroup.com