Global News Link 

Issuing its third quarter report of 2011 NORMA Group AG and confirmed its expectations that sales growth for the full financial year would be at the top end of the range.

After nine months of 2011 Group sales improved to 442 million euros, up 22% on the same period 2010. 16.4% of the growth was organic, with a further 7.4% coming from acquisitions. Adjusted EBITA rose to 80.1 million euros, an increase of 23.6% compared to first three quarters of 2010. The adjusted EBITA margin was 18.1%.

Growth remained dynamic in the third quarter, Norma says, with sales improving 11.4% year on year to 145.8 million euros. “We were able to continue our successful growth path in the third quarter of 2011,” said Werner Deggim, CEO of NORMA Group. “Demand for our joining technology solutions was even higher than we expected, across all customer segments and regions. Because of this, we have further specified our forecast for organic growth in the 2011 financial year from originally between 10% and 12% to now around 12%.”

Norma’s Europe, Middle East and Africa region (EMEA) delivered nine month sales of 287 million euros (65% of the Group total) up 14.6% on same period 2010.  A new production facility opened in Serbia in the third quarter. American sales (North and South) improved 44.2% to 129 million euros, due to strong organic growth. Norma opened a new site in Brazil expanding its distribution activities in South America.

Asia-Pacific performance also remained “positive and highly dynamic”, with sales rising nearly 20% to 26 million euros for the nine months. Norma says facilities in Asia Pacific, particularly in Thailand, will contribute significantly to the Group’s continued sales growth in the region.