NORMA Group has increased its full year sales forecast for 2017, on the basis of preliminary, unaudited figures for Q2 2017 and expected group sales until year end.
The Group management board now expects organic sales growth, excluding currency and acquisition related effects, of around 4% to 7% in 2017 compared to 2016. NORMA’s previous forecast had been for “moderate organic growth of around 1% – 3%”.
In the EMEA a higher organic growth rate is expected due to incremental short-term orders. After a good growth in the second quarter 2017 stronger than planned organic growth is expected, particularly from the commercial vehicles and agricultural machinery sectors. In the Asia-Pacific region faster than expected localisations, in particular in China, are leading to a higher organic growth.
NORMA expects additional sales from the already published acquisitions of Autoline, Lifial – Indústria Metalúrgica de Águeda Lda and Fengfan Co Ltd of around €55 million. The management board confirms the adjusted EBITA margin forecast as “sustainable at the same level as in previous years of more than 17%”.
Based on preliminary, unaudited figures NORMA Group achieved sales of around €263 million in Q2 2017, taking the first half total to around €518 million. This equates to an organic growth of 4.9% during Q2 2017 (Q1 2017: 4.6%, H1 2017: 4.8%).
Will joined Fastener + Fixing Magazine in 2007 and over the last 10 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
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