Comparative presentation of the annual change within the meaning of Section 162 (1) Sentence 2 No. 2 German Stock Corporation Act (AktG) (“vertical comparison”)
The provision of Section 162 (1) Sentence 2 No. 2 German Stock Corporation Act (AktG) requires a comparative presentation of the annual change in the remuneration of the Management Board and the Supervisory Board, the development of earnings of the Company and the average remuneration of the employees on a full-time equivalent basis. The annual change was determined as follows:
•The earnings development of the Company was based on the annual result according to the profit and loss account. Since NORMA Group SE is the parent company of the Group and the variable remuneration of the Management Board is based, among other aspects, on Group earnings figures (e.g. adjusted Group EBIT), this figure was also included in the comparative presentation.
•The determination of the change in the average remuneration of employees on a full-time equivalent basis was based on the entire workforce in Germany (excluding the Management Board) on the one hand and on the collectively bargained employees in Germany on the other, since this data is comparable with the other remuneration due to the legal and social security framework.
•For the sake of completeness, it should be mentioned that the remuneration data for 2020 was influenced by both short-time work and executive pay cuts.
The annual changes for the years 2021 to 2024 are as follows:
Comparative presentation of the annual change (so-called vertical comparison) pursuant to Section 162 (1) sentence 2 No. 2 German Stock Corporation Act (AktG) | T073 | |||
|---|---|---|---|---|
Group of persons / yield variables | Change 2024 to 2023 | Change 2023 to 2022 | Change 2022 to 2021 | Change 2021 to 2020 |
Members of governing bodies in office as of Dec 31, 2024 | ||||
a) Management Board | ||||
Guido Grandi (since June 1, 2023 until February 17, 2025)1 | 74.1 % | n/a | n/a | n/a |
Dr. Daniel Heymann (since May 1,2023) | 52.5 % | n/a | n/a | n/a |
Annette Stieve (since October 1, 2020) | 7.8% | 17.7% | -2.0 % | 243.5 % |
b) Aufsichtsrat | ||||
Mark Wilhelms2 | 13.8 % | 48.0 % | 20.2 % | 29.6 % |
Erika Schulte | 0.9 % | -6.8 % | 12.5 % | 9.5 % |
Dr. Markus Distelhoff (since May 12, 2023) | 57.4 % | n/a | n/a | n/a |
Rita Forst | 5.9 % | 11.1 % | 4.9 % | 27.0 % |
Denise Koopmans (since May 12, 2023) | 60.6 % | n/a | n/a | n/a |
Kerstin Müller-Kirchhofs (since September 9, 2024)3 | n/a | n/a | n/a | n/a |
Former Board members | ||||
a) Management Board | ||||
Miguel Ángel López Borrego (January 1 until May 31, 2023)4 | n/a | n/a | n/a | n/a |
Dr. Friedrich Klein (until April 30, 2023) | -93.3 % | -66.9 % | 3.1 % | -8.1 % |
Dr. Michael Schneider (until December 31, 2022) | -86.9 % | -67.5 % | 2.0 % | -20.6 % |
b) Supervisory Board | ||||
Miguel Ángel López Borrego (since March 16, 2021) | -20.8 % | -26.2 % | 36.5 % | k. A. |
Günter Hauptmann (until May 11, 2023) | n/a | -64.9 % | 17.1 % | 38.8 % |
Dr. Knut J. Michelberger (until May 11, 2023) | n/a | -70.0 % | 7.2 % | 11.6 % |
Earnings indicators | ||||
Annual result for NORMA Group SE | 288.4 % | -41.5 % | – 46.8 % | 698.9 % |
Adjusted EBIT NORMA Group [Group] | -5.3 % | -1.5 % | – 13.0 % | 151.3 % |
Average remuneration of employees on a full-time equivalent basis | ||||
Total workforce in Germany (excluding the Management Board) | 1.3 % | 5.3 % | 5.6 % | 8.4 % |
Pay scale employees in Germany | -2.9 % | 7.2 % | 5.6 % | 8.9 % |
1_Mr. Guido Grandi resigned from his position as Chairman of the Management Board and Chairman of the Management Board effective February 17, 2025. 2_Assumption of interim CEO duties effective February 18, 2025; his previous Supervisory Board mandate will be suspended during his interim CEO duties for a maximum transitional period of one year until February 17, 2026. 3_Court-appointed member of the Supervisory Board effective September 9, 2024; member and Chair of the Audit Committee since September 20, 2024; interim Chair of the Supervisory Board since February 18, 2025. 4_Interim CEO duties. | ||||
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.