Germany · Delayed Price · Currency is EUR NORMA Group SE Earnings Call Transcripts
Fiscal Year 2026
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Profitability improved in Q2 2026 with a 3.6% adjusted EBIT margin and strong net cash, driven by cost discipline and transformation. Industrial applications grew, offsetting weaker mobility demand, and major new orders were secured. FY 2026 outlook and capital return plans confirmed.
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Profitability improved in Q1 2026 due to cost discipline and pricing, despite lower sales from FX headwinds. The company is now net debt-free, confirmed its 2026 guidance, and executed major debt repayment and shareholder returns. Transformation and targeted growth in Industry Applications continue.
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Leadership changes aim to accelerate transformation, with a continued focus on Industry Applications and Mobility. The Water Management divestment and M&A activities will proceed in parallel, and the CEO search targets candidates with industrial and transformation expertise.
Fiscal Year 2025
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2025 saw a challenging year with lower sales and margins, but the divestment of the Water Management business enabled a net debt-free position and significant shareholder returns. 2026 is positioned as a reset year, with modest growth and margin improvement expected, and a strategic focus on operational efficiency and new markets.
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Q3 2025 saw a 4.3% sales decline and lower margins, mainly due to currency effects and mobility weakness. The water management divestment will fund debt reduction, shareholder returns, and growth, while transformation initiatives target double-digit margins by 2028.
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Q2 2025 saw improved margins and stable adjusted net income despite a 5.2% sales decline, with transformation initiatives and cost savings underway. The outlook remains cautious but anticipates H2 revival in select segments, while the water management sale will fund deleveraging, M&A, and shareholder returns.
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Q1 2025 saw lower sales and margins due to weak market conditions, especially in automotive and new mobility. Transformation efforts, including the water business sale and operational restructuring, aim for double-digit EBIT margins by 2028. Positive cash flow and improved working capital were achieved.
Fiscal Year 2024
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2024 saw a 5.5% sales decline but improved margins and cash flow, driven by cost reductions and operational efficiencies. The company is divesting its water management business, targeting double-digit EBIT margins, and expects a challenging first half of 2025 with potential recovery later in the year.
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Q3 2024 saw a 7.9% sales decline year-over-year, but margins held up due to efficiency gains and cost controls. Water management and industry applications showed resilience, while APAC and automotive segments remained weak. Full-year sales and margin guidance were reaffirmed.
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Q2 2024 saw a 5.5% sales decline year-over-year, but margins and cash flow improved due to efficiency measures. Water management grew, while mobility and new energy lagged; Americas performed well, APAC struggled, and EMEA showed margin gains. Guidance remains at the lower end amid ongoing market headwinds.