Significant events and developments

 

NORMA Group initiates sales process for Water Management business

In an ad hoc announcement on November 28, 2024, NORMA Group announced a stronger strategic focus on its core business as market leader for joining technology. Following an in-depth review of the Company’s strategic direction, the Management Board decided to initiate a divestment process for the global business activities of the strategic business unit Water Management. The market position of the remaining synergistic Industry Applications and Mobility & New Energy business units is to be strengthened and the divestment of the water business is intended to free up resources and capacities for further profitable growth in the traditional core business units. Further information can be found in the corresponding press release at WWW.NORMAGROUP.COM.

 

Changes in the Supervisory Board of NORMA Group SE: Kerstin Müller-Kirchhofs appointed to the Supervisory Board by the court

In the third quarter of 2024, an application was made for the court appointment of Kerstin Müller-Kirchhofs as a new member of the Supervisory Board until the election at the next Annual General Meeting. Ms. Müller-Kirchhofs holds a degree in economics and is a certified public accountant with several years of experience in the management of industrial companies. Most recently, she was CFO of Gesco SE, a listed holding company with several medium-sized technology companies. She succeeds Miguel Ángel López Borrego, who stepped down from the Supervisory Board at his own request in May 2024. Ms. Müller-Kirchhofs is a member and Chairwoman of the Audit Committee of the Supervisory Board of NORMA Group SE. This means that NORMA Group’s six-member Supervisory Board is once again complete.

 

NORMA Group defends patent against Chinese competitor

NORMA Group won a patent lawsuit against a Chinese competitor. At the end of June 2024, the Supreme People’s Court of the People’s Republic of China in Beijing ruled that a product from competitor Suzhou Shengnuo Connection Technology Co. Ltd. infringes on a NORMA Group patent for an advanced worm drive hose clamp. The competitor was prohibited from manufacturing or selling this clamp. Further information can be found in the corresponding press release at WWW.NORMAGROUP.COM.

 

NORMA Group provides clamps for cooling system of energy storage facility in Germany

NORMA Group has won a contract for V-band clamps for an energy storage facility in Germany. The customer is a market-leading provider of flexible metal tubes and will install the clamps in the facility’s cooling system. From summer 2024 until the end of 2028, NORMA Group will supply between 30,000 and 180,000 clamps per year to the customer. The order has a total volume of around EUR 2.4 million. Further information is available at WWW.NORMAGROUP.COM.

 

NORMA Group wins major contract from home appliance manufacturer in the US

NORMA Group has won a major order from an industrial customer to supply almost three million dishwashers a year with custom-made metal TORRO clamps since the fourth quarter of 2024. The customer is a leading global manufacturer of home appliances. Further information is available at WWW.NORMAGROUP.COM.

 

More specific sales forecast with the publication of the statement on the 3rd quarter of 2024

In the interim statement for the third quarter of 2024, NORMA Group had specified the sales forecast in the previously known range towards the lower end, based on the trend forecasts in the customer industries and markets relevant to NORMA Group and assuming continued challenging months in the rest of 2024. Taking into account the reasons and factors outlined here as well as the current findings, the management had also specified the target values for the adjusted EBIT margin and NORMA Value Added (NOVA). Further details on the specifications made can be found in the section COMPARISON OF TARGET AND ACTUAL VALUES section.

 

Expansion of the water business in Europe

On December 21, 2023, NORMA Group signed an agreement to acquire Teco Srl, an Italian supplier of irrigation products for the gardening, landscaping and agricultural sectors. The Company offers around 800 products, including drippers, sprayers, valves and connecting elements. Teco’s customers are wholesalers and manufacturers of water management systems. The acquisition serves the gradual expansion of the business in the strategic area of Water Management in Europe and was completed on February 29, 2024.

 

NORMA Group’s Annual Report and Investor Relations Department honored once again

NORMA Group once again received the “FOX FINANCE Award in SILVER” for its 2023 Annual Report. In particular, the elements of comprehensiveness, a clear and modern structure, the concrete statements on forecasts, risks and opportunities as well as the level of detail of the information across various areas were praised. In the “Investors’ Darling” capital market competition, in which the capital market communication of Prime Standard companies is assessed according to numerous criteria, NORMA Group took third place out of 68 companies rated in the SDAX for 2024. NORMA Group was thus able to improve its ranking once again compared to the previous year. (2023: Rank 7 out of 70). IR WORK

 

Premature departure of the CEO and temporary assumption of the CEO position by the Chairman of the Supervisory Board in February 2025

The Chairman of the Management Board of NORMA Group SE, Mr. Guido Grandi, resigned from his position on the Management Board and as Chairman of the Management Board at the end of February 17, 2025 due to strategic differences regarding the future direction of the Company. Effective February 18, 2025, the previous Chairman of the Management Board of NORMA Group, Mr. Mark Wilhelms, took over as Chairman of the Management Board for a transitional period of a maximum of one year. Ms. Kerstin Müller-Kirchhofs is Chairwoman of the Supervisory Board of NORMA Group for the transitional period. The Supervisory Board has initiated a structured search for a new Chairman of the Management Board.