NORMA Group presented its preliminary figures for financial year 2023 and the fourth quarter of 2023. With slightly lower sales, the company achieved stable profitability and strong cash flow.
CEO Guido Grandi: “We achieved a sound result in 2023 in a challenging environment. We enhanced the efficiency of our operating business more, mitigated the effects of inflation-related cost increases and attracted new customers for our innovative joining technology. In the second half of the year, our improvement measures took effect, so that we achieved a significant increase in earnings in the fourth quarter compared to the previous year. Overall, we achieved a stable margin and considerably increased cash flow.”
Preliminary, unaudited figures put Group sales in financial year 2023 at EUR 1,222.8 million. Compared to the previous year, the company achieved organic growth of 0.7%. Negative currency effects, however, slowed sales growth by 2.4%. Overall, Group sales were down slightly, declining 1.6% compared to the previous year (2022: EUR 1,243.0 million).
NORMA Group will present the audited, comprehensive figures for financial year 2023 with detailed information on the business regions and the sustainability performance indicators and the forecast for the current financial year on March 26, 2024.
