NORMA Group SE : Prior (deep) value case on hold - Too early to enter this story yet
>Q2 2023 results should show a sequential improvement vs a weak Q1 2023 - Norma is due to release its Q2 2023 results on 8 August before market open. We expect group sales to be +4% y-o-y to € 332m (consensus: € 329m) and group adjusted EBIT to be up 19% y-o-y to € 26.5m (€ 25.9m), which implies an adjusted EBIT margin of 8.0% (7.8%) and a sequential improvement vs 7.2% in Q1 2023. In detail, we expect Norma’s industrial business to have performed relatively well in ...NORMA Group is a holding Company. Co. manufactures and markets joining products and solutions in three product categories clamps (CLAMP), joining elements (CONNECT) and connections/fluid systems (FLUID). Co.'s clamp products and solutions are manufactured from unalloyed steels or stainless steel and are generally used to join or seal elastomer hoses. Co.'s connection products include connectors made of unalloyed steels or stainless steel that are partly equipped with elastomer or metal seals and are used as the joining and sealing elements of metal and thermoplastic pipes. Co.'s fluid products are either single or multiple layer thermoplastic plug-in connectors for liquid systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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