NORMA Group SE : Q1 2024 profit margins showing further sequential improvement
>Q1 2024 results look broadly in line with our expectations - Norma’s Q1 2024 reported group sales are down 2% y-o-y to € 309m (in-line with ODDO BHF; -1% vs css) with an organic growth rate of -1%. Group adj. EBIT is +14% y-o-y to € 25.7m (+1% vs ODDO BHF& css) with an adj. EBIT margin of 8.3% in the quarter under review. The sequential improvement of Norma’s adj. EBIT margin (Q1 2023: 7.2%; Q4 2023: Q1 2024: 8.0%) is said to be driven by a more efficient production...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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