Q2 2024 Norma Group SE Earnings Call Transcript
Key Points
- Adjusted EBIT margin increased to 8.5% in Q2 2024, showing improvement year-over-year.
- Net operating cash flow showed a strong increase of more than EUR11 million to a total of EUR43.6 million in Q2.
- Equity ratio improved to 47% at the end of June 2024.
- Water Management business recorded robust sales growth of 6.7% across all regions.
- Step Up efficiency measures are visibly improving margin profiles and operational efficiency.
- Net sales decreased by 5.5% in Q2 2024 compared to the previous year's quarter.
- Sales in the Mobility & New Energy business division fell by 10.7% year-over-year.
- Weak economic environment in the APAC region, particularly in China, impacted sales negatively.
- Adjusted EPS and reported EPS decreased by 12% and 17.5%, respectively, in the first half of 2024.
- Order backlog declined by almost 9% in the first half of 2024, raising concerns about future sales prospects.
Good morning and good afternoon, ladies and gentlemen. Welcome to our conference call regarding NORMA Group's quarter 2 2024 results. My name is Guido Grandi, with my colleague Annette Stieve accompanying me. Together, we will proceed through the following slides. At the end of the presentation, we will be available to answer your questions.
Let us start with some key figures for the second quarter of 2024. Our net sales totaled EUR306.3 million in the second quarter of '24, which represents a decrease of 5.5% against previous year's quarter. Despite the drop in sales, we were able to record an adjusted EBIT of EUR26.1 million. As a result of our Step Up efficiency measures, the adjusted EBIT margin rose to -- 10 basis points to 8.5%. Likewise to the previous quarter, our net operating cash flow showed a strong increase of more than EUR11 million to a total of EUR43.6 million in quarter 2.
Coming to the balance sheet. Our equity ratio further improved and reached 47% at the end of June. Our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
