30. Segment reporting

NORMA Group segments the Group at a regional level. The reportable segments of NORMA Group are EMEA, the Americas and Asia-Pacific. NORMA Group’s vision includes regional growth targets. Regional and local priorities are set in the distribution channels. EMEA, the Americas and Asia-Pacific have linked regional intercompany organizations with different functions. As a result, the Group’s management reporting and controlling system has a regional focus. The product portfolio does not vary significantly between these segments.

Revenues are generated across all segments from the sale of products in the three product categories metallic fastening clips and fasteners (FASTEN), fluid systems and connectors (FLUID), and water management applications (WATER).

NORMA Group measures its segments mainly on the basis of the financial performance indicator ‘adjusted EBIT’. An overview of the adjustments and a reconciliation of reported to adjusted consolidated earnings can be found in NOTE 7 ADJUSTMENTS.

The adjusted employee benefits and adjusted other operating expenses reported in segment reporting correspond to the management view and do not represent the items reported in the Consolidated Statement of Comprehensive Income for the Group and in the result adjusted for special items for each segment. Within the segments, expenses for temporary workers are allocated to expenses for employee benefits. In addition, operating currency gains/losses are not included in the adjusted other operating expenses. A reconciliation of the items to the “Group” is included in the “Consolidation/reclassification” column.

‘Adjusted EBITDA’ comprises revenue, changes in inventories of finished goods and work in progress, other own work capitalized, raw materials and consumables used, other operating income and expenses, and employee benefits expense, adjusted for material one-time effects.

‘Adjusted EBIT’ comprises adjusted EBITA less amortization of intangible assets.

Inter-segment revenue is generally recorded at values that approximate third-party selling prices.

Segment assets comprise all assets less (current and deferred) income tax assets-Taxes are shown in the reconciliation. Taxes are shown within the consolidated segment reporting. Assets of the ‘Central Functions’ include mainly cash and intercompany receivables.

Segment liabilities comprise all liabilities less (current and deferred) income tax liabilities. Taxes are shown within the consolidated segment reporting. Segment assets and liabilities are measured in a manner consistent with that used in the Consolidated Statement of Financial Position. Liabilities of the ‘Central Functions’ include mainly borrowings.

Capex equals additions to non-current assets (property, plant and equipment and other intangible assets including additions for leases for moveable assets).

The deferred and actual income taxes are reported in the segment reporting within the consolidation, as they were not regularly reported to the management and thus not included in the assessment of the profit and loss of the individual segments. As at December 31, 2024, the assets amounted to EUR 16,177 thousand (Dec 31, 2023: EUR 16,305 thousand) and in liabilities EUR 43,794 thousand (Dec 31, 2023: EUR 46,931 thousand).

External sales per country, measured according to the place of domicile of the company which manufactures the products, are as follows:

Non-current assets by country comprise non-current assets less deferred and current tax assets and derivative financial instruments and are presented below: