Q1 2019 Norma Group SE Earnings Call Transcript
Thank you kindly, operator. Dear ladies and gentlemen, also from our end and on behalf of the entire management board, a very warm welcome to the first quarter 2019 results conference call.
Beginning on Page 2, I'd like to lead you through some of the details of our Q1 results. Starting with revenue and sales is up by 1.1% to EUR 275.6 million versus EUR 272.6 million in quarter 1 last year. Adjusted EBITA at EUR 39.6 million, a minus 13.3% decrease year-over-year, versus the EUR 45.7 million which we reported in Q1 2018. This leads to an adjusted EBITA margin of 14.4% relative to the 16.8% year-over-year quarter 1 2018. And while net operating cash flow has improved to minus EUR 0.3 million versus minus EUR 13.8 million a year ago, we report an equity ratio improvement to 41.2% on the balance sheet coming from 40.9% on December 31 last year.
Net debt increased by 13.8% to EUR 455 million, up from EUR 400 million on December 31 which is mainly driven and mainly attributable to the first time application of IFRS 16
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