NORMA Group reported sales declined 13.4% to EUR 952.2 million (US$1.13 billion) in 2020, which included an organic sales decrease of 12/1%. Adjusted EBITA fell 62% to EUR 54.6 million with a margin of 5.7%, hurt by the large-scale economic standstill in Europe and the U.S. in the spring of 2020 due to Covid-19.

“Our business proved to be robust overall in a difficult economic environment in 2020,” stated CEO Michael Schneider. “In the second half of the year – following initial signs of recovery in China – we observed a significant increase in demand from our customers worldwide.”

Sales in the fourth quarter of 2020 returned to levels from the previous year at EUR 261.2 million. On an organic basis, sales from October to December increased 3.8%. Adjusted EBITA declined 16.3% to EUR 21.3 million with a margin of 8.2%.

“Business with automotive customers in particular recovered at the end of the year,” Schneider noted. Web: NormaGroup.com