12/2/2011 11:22:00 AM
NEWS BRIEFS
UK’s NORMA Group Grows American Sales & Profit
Werner Deggim
UK-based NORMA Group AG reported sales improved 22% to EUR 441.7 million in the first nine months of 2011, which included organic growth of 16.4% and 7.4% from acquisitions. Nine-month adjusted EBITA rose 24% to EUR 80. million. Improved sales and earnings were achieved in all three of its regional reporting segments – EMEA (Europe, Middle East, Africa), the Americas and Asia- Pacific.
During the third quarter NORMA Group reported 11.4% revenue growth to EUR 145.8 million in the third quarter, with adjusted EBITA up 15.3% to EUR 26.2 million.
In the Americas segment, NORMA Group improved sales by 44.2% in the first nine months of 2011 to EUR 129 million, boosted by “strong organic growth.”
“The consolidation effects from the US-acquisition of R.G.Ray in May 2010 and Craig Assembly in December 2010 also made a positive impact,” the company stated.
With the opening of a new site in Brazil in the third quarter NORMA Group expanded its distribution activities in South America.
“Demand for our joining technology solutions was even higher than we expected, across all customer segments and regions,” stated CEO Werner Deggim. “Because of this, we have further specified our forecast for organic growth in the 2011 financial year from originally between 10% and 12% to now around 12%.”
NORMA Group opened new locations in Brazil and Serbia to meet the increasing demand for its joining technologies.
“The markets in South America and Eastern Europe recorded above-average growth,” Deggim explained.
NORMA Group has improved its sales forecast due to its positive performance. The company now expects organic sales growth of around 12% to approximately EUR 570 million for 2011.
In 2011 the NORMA Group increased its workforce by 11% to 4,229 employees at the end of September. ©2011 GlobalFastenerNews.com
UK-based NORMA Group AG reported sales improved 22% to EUR 441.7 million in the first nine months of 2011, which included organic growth of 16.4% and 7.4% from acquisitions. Nine-month adjusted EBITA rose 24% to EUR 80. million.
Improved sales and earnings were achieved in all three of its regional reporting segments – EMEA (Europe, Middle East, Africa), the Americas and Asia- Pacific.
During the third quarter NORMA Group reported 11.4% revenue growth to EUR 145.8 million in the third quarter, with adjusted EBITA up 15.3% to EUR 26.2 million.
In the Americas segment, NORMA Group improved sales by 44.2% in the first nine months of 2011 to EUR 129 million, boosted by “strong organic growth.”
“The consolidation effects from the US-acquisition of R.G.Ray in May 2010 and Craig Assembly in December 2010 also made a positive impact,” the company stated.
With the opening of a new site in Brazil in the third quarter NORMA Group expanded its distribution activities in South America.
“Demand for our joining technology solutions was even higher than we expected, across all customer segments and regions,” stated CEO Werner Deggim. “Because of this, we have further specified our forecast for organic growth in the 2011 financial year from originally between 10% and 12% to now around 12%.”
NORMA Group opened new locations in Brazil and Serbia to meet the increasing demand for its joining technologies.
“The markets in South America and Eastern Europe recorded above-average growth,” Deggim explained.
NORMA Group has improved its sales forecast due to its positive performance. The company now expects organic sales growth of around 12% to approximately EUR 570 million for 2011.
In 2011 the NORMA Group increased its workforce by 11% to 4,229 employees at the end of September. ©2011 GlobalFastenerNews.com
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