Annual Report 2022
To Our Shareholders
To Our Shareholders
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The Management Board
Letter from the Management Board
NORMA Group on the Capital Market
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Global indices end weak stock market year 2022 clearly in the red
Performance of the NORMA Group share
Trading turnover down despite higher trading volume
Voting rights notifications in 2022
2022 Annual General Meeting
Directors’ Dealings
Sustainable Investor Relations activities
Broadly diversified shareholder structure
Analysts covering NORMA Group
NORMA Group’s Investor Relations work receives awards again
Key issues in capital market communications
Service for shareholders
Supervisory Board Report
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Supervisory Board Meetings in 2022
Attendance of Meetings, Training Activities, No Conflicts of Interest
Main Activities of the Audit Committee in 2022
Main activities of the General and Nomination Committee
Main Activities of the Strategy Committee
Information on the Auditor
Adoption of the 2022 Annual Financial Statements and the Separate Non-Financial Statement for the Group
Declaration of Conformity with the German Corporate Governance Code
Corporate Governance Report and Declaration on Corporate Governance
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Declaration of Conformity with the German Corporate Governance Code
Published documents on remuneration and auditor’s opinion
Information on Corporate Governance practices
Compliance
Corporate Responsibility, ESG and Climate Change
Description of the working methods of the Management Board and Supervisory Board as well as the composition and working methods of their committees
Supervisory Board: members, election, independence and length of Supervisory Board membership
Supervisory Board committees: responsibilities, membership and meetings
Shareholders and Annual General Meeting
Shareholdings of the Management and Supervisory Boards
Directors’ Dealings
Security-like incentive systems
Targets for the share of women
Diversity concept
Information on the auditor and internal rotation
Corporate Responsibility Report
Corporate Responsibility Report
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Corporate Responsibility Strategy
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NORMA Group’s Approach to Corporate Responsibility
Stakeholders & Materiality
CR Targets und Sustainable Development Goals
Sustainability Ratings and Sustainable Finance
Governance
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Compliance
Human Rights
Product Quality and Safety
Responsible Procurement
Environment
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Sustainable Products and Innovations
Environmental Strategy and Management Systems
Climate protection
Water
Resource Efficiency and Materials
Social
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Employee Satisfaction
Occupational Health and Safety
Learning and Development
Diversity and equality of opportunity
Social Commitment
Non-Financial Report, EU Taxonomy, GRI and UN Global Compact
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Non-Financial Report
EU Taxonomy
CR Performance Indicators
Assurance Report
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Independent Practitioner’s Report on a Limited Assurance Engagement on Non-financial Reporting
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Restriction of Use
Combined Management Report
Combined Management Report
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Principles of the Group
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Business model
Organizational structure
Products and end markets
Market and competitive environment
Strategy and goals
Financial and liquidity management objectives and strategies
Control system and key performance indicators
NOVA = (adjusted EBIT x (1 – s)) – (WACC x capital employed)
Research and Development
Economic Report
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External factors of influence
Significant events and developments in fiscal year 2022
Significant events after the balance sheet date
Comparison of target and actual values
Earnings, asset and financial position
Production and logistics
Quality management
Purchasing and supplier management
Workforce
Environmental protection and ecological management
Marketing
Condensed Management Report of NORMA Group SE (HGB)
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General information
Business development
Forecast Report
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Macroeconomic and industry-specific conditions
Future development of NORMA Group
Risk and Opportunity Report
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Risk and opportunity management system
Risk and opportunity profile of NORMA Group
Assessment of the overall profile of risks and opportunities by the Management Board
2022 Remuneration Report
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Remuneration of the Supervisory Board
Comparative representation of the annual change within the meaning of Section 162 (1) sentence 2 No. 2 AktG (so-called vertical comparison)
Other Legally Required Disclosures
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Authorized capital
Conditional capital
Authorization to acquire treasury shares
Report on Transactions with Related Parties
Consolidated Financial Statement
Consolidated Financial Statement
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Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Financial Position
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS General information
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1. Group information
2. Basis of preparation
Accounting standards applied for the first time in the current fiscal year
3. Summary of significant accounting policies
4. Scope of Consolidation
5. Financial risk management
6. Critical accounting estimates and judgments
7. Adjustments
Notes to the Consolidated Statement of Comprehensive Income 8. Revenue from contracts with customers
9. Materials and consumables used
10. Other operating income
11. Other operating expenses
12. Employee benefits expense
13. Financial income and costs
14. Net foreign exchange gains / losses
15. Earnings per share
16. Income taxes
Additional Information on the Consolidated Statement of Financial Position 17. Deferred income tax
18. Goodwill and other intangible assets
19. Property, plant and equipment
20. Leases
21. Financial instruments
21. (a) Trade and other receivables
21. (b) Trade receivables transferred or available for transfer
21. (c) Cash and cash equivalents
21. (d) Other financial assets
21. (e) Financial liabilities and net debt
21. (f) Derivative financial instruments
21. (g) Financial instruments at fair value
21. (h) Net gains and losses on financial instruments
21. (i) Total interest income and expense from financial instruments
22. Inventories
23. Other non-financial assets
24. Equity
25. Share-based payments
26. Retirement benefit obligations
27. Provisions
28. Other non-financial liabilities
29. Non-current assets held for sale
Other Notes
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30. Information on the Consolidated Statement of Cash Flows
31. Segment reporting
32. Contingent liabilities
33. Other financial obligations
34. Related party transactions
35. Additional disclosures pursuant to Section 315e (1) of the German Commercial Code (HGB)
36. Exceptions under Section 264, Paragraph 3 of the German Commercial Code (HGB)
37. Events after the balance sheet date
APPENDIX TO THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Voting rights notifications
Corporate Bodies of NORMA Group SE
Assurance Of Legal Representatives
Independent Auditor´s Report
Report on the Audit of the Consolidated Financial Statements and of the Condensed Management Report
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Other legal and regulatory requirements
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Combined Management Report
Condensed Management Report of NORMA Group SE (HGB)
Condensed Management Report of NORMA Group SE (HGB)
General information
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Business development
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