NEWS
NORMA Group on course for record performance
Issuing its third quarter report NORMA Group AG confirmed its expectations that sales growth for the full financial year would be at the top end of the range.
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fter nine months of 2011 Group sales improved to 442 million euros, up 22% on the same period 2010. 16.4% of the growth was organic, with a further 7.4% coming from acquisitions. Adjusted EBITA rose to 80.1 million euros, an increase of 23.6% compared to the first three quarters of 2010. The adjusted EBITA margin was 18.1%.
Growth remained dynamic in the third quarter, Norma says, with sales improving 11.4% year
on year to 145.8 million euros. “We were able to continue our successful growth path in the third quarter of 2011,” said Werner Deggim, CEO of NORMA Group. “Demand for our joining technology solutions was even higher than we expected, across all customer segments and regions. 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’s Europe, Middle East and Africa region (EMEA) delivered nine month sales of 287 million euros (65% of the Group total) up 14.6% on same period 2010. A new production facility opened in Serbia in the third quarter. American sales (North and South) improved 44.2% to 129 million euros, due to strong organic growth. Norma opened a new site in Brazil expanding its distribution activities in South America. Asia-Pacific performance also remained “positive and highly dynamic”, with sales rising nearly
20% to 26 million euros for the nine months. Norma says facilities in Asia-Pacific, particularly in Thailand, will contribute significantly to the Group’s continued sales growth in the region. For an exclusive interview with Werner Deggim, conducted prior to the release of these results, go to Page 54.
FinnvedenBulten reports 21.6% YTD growth
In its interim report for January to September 2011 FinnvedenBulten reports net sales of SEK 2,282 million (250 million euros) up 21.6% on the same period last year.
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ccumulated profit after tax for the nine months was reported at SEK 85 million (9.3 million euros). Sales for the third quarter were up 19% on same period 2010 at SEK 704 million (77.5 million euros). President and CEO, Johan Westman, commented: “Our business continued to
progress positively in the third quarter, with a strong improvement in profitability compared with the same period last year. The organic growth of 19% in the quarter was driven by production increases in existing contracts and new businesses. We are monitoring the uncertainty in the financial market and the macroeconomic development to see how they affect our customers. Meanwhile we have good operational and financial contingency plans for potential drop in demand. We still see good opportunities for growth through, for example, our initiatives in China and Russia.” Fastener manufacturing division Bulten reported third quarter sales up 15.7% to SEK 412.3 million, with operating earnings at SEK 22 million. 2011 nine-month sales totalled SEK 1,307.6 million, representing about 57% of group total sales, with operating earnings of SEK 87.3 million. Bulten reported “continued good development with an increase in market share compared with last year” and said that new business opportunities had occurred thanks to unplanned restructuring activities in the automotive industry. The formation of a joint venture company with GAZ in Russia is said to be continuing according to plan, with final agreement expected at the beginning of 2012.
10 Fastener + Fixing Magazine • Issue 72 November 2011
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