Q2 2023 Norma Group SE Earnings Call Transcript
Hello, everybody. My name is Guido Grandi since June 1, CEO of the NORMA Group and first time to present here in this meeting. Welcome, everybody. As communicated, we have a newly set up management board. I'm very confident that we established a good team. It is a nice mix of different professional backgrounds, personalities and chemistry. We're looking forward to meet you in the near future. Let's talk about our key figures for the second quarter this year. The sales increase of net 1.9% and leads to a total sales of EUR 324 million for the quarter.
This includes an organic growth of 4%. On this basis, the adjusted EBIT increased by 21.2% to a total of EUR 27.1 million for the quarter. This represents an adjusted EBIT margin of 8.4% and compares to 7% at the same period last year. As a result, the net operating cash flow stands at EUR 31.9 million, leading to a strong balance sheet with an equity ratio of 45.8% and a net debt at EUR 420 million. Supporting these good figures is our newly set up Step Up program, which now carries more than 100 initiatives and we're already earning the benefits of
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