NORMA Group SE : Q3 2023 results due 7 November – we still think Norma is on track to deliver on its FY 2023 guidance
>We expect a mixed set of Q3 2023 results in a volatile environment - Norma is due to release its Q3 23 results on 7 November and we expect reported group sales to be just flat y-o-y at € 319m. In our view, organic top line growth continued to accelerate from +4.0% in the previous quarter to +5.0% in Q3 2023, driven by new project start-ups in Norma’s Auto OE business unit. But increasingly strong FX headwinds are diluting the sequential improvement in organic growth ...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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