Norma Group (NOEJ) Q4 2024 TU earnings summary

Executive summary

• Net sales for FY 2024 reached EUR 1,155.1 million, a 5.5% decrease year-over-year from EUR 1,222.8 million.

• Adjusted EBIT was EUR 92.3 million, down 5.3% from 2023, with a stable adjusted EBIT margin of 8.0%.

• Net operating cash flow increased significantly to EUR 105.4 million, up 20.7% from 2023.

• Q4 2024 sales were EUR 266.8 million, a 6.9% decline compared to Q4 2023.

• Initiated divestment process for Water Management business to focus on core joining technology.

Financial highlights

• Organic sales declined by 5.5% for the year, with a minor FX effect of -0.3% and acquisition effect of 0.2%.

• Adjusted EBIT margin remained at 8.0% for the year; Q4 margin was 7.3%, down from 8.0% in Q4 2023.

• Equity increased to EUR 721.4 million, with an improved equity ratio of 50.2% (up from 46.4%).

• Net debt decreased to EUR 329.2 million, a 4.7% reduction year-over-year; leverage improved to 2.1x from 2.2x.

• Total assets at year-end were EUR 1,436.6 million, down 3.8% from 2023.

Segment performance

• By SBU: IA -6.4%, WM +3.5%, MNE -8.9% year-over-year.

• By region: EMEA -7.3%, AM -0.8%, APAC -15.1% for the year.

• Q4: IA -4.9%, WM +2.8%, MNE -11.3%; EMEA -8.7%, AM -1.8%, APAC -15.4%.