As of March 18, 2026, there were no events or developments that would have resulted in a material change in the recognition or measurement of the individual assets and liabilities as of December 31, 2025.
Geopolitical developments in the Middle East
On February 28, 2026, there was a military escalation in the Middle East between the United States of America, Israel and Iran. This event occurred after the reporting date and is therefore a non-recognizable event within the meaning of IAS 10. Accordingly, no adjustments were made to the amounts recognized in the Consolidated Financial Statements as of December 31, 2025.
NORMA Group does not have its own operating companies in the directly affected regions. Therefore, no direct effects on the Group’s financial position, financial performance and cash flows are currently expected. However, indirect effects, in particular through possible changes in energy and commodities prices or macroeconomic developments, cannot be ruled out. At the time of preparing the Consolidated Financial Statements, possible financial effects could not yet be reliably quantified.
Disposal of the Water Management business
After the reporting date, the disposal of the Water Management business unit, which was previously classified as a discontinued operation, was successfully completed on February 2, 2026. The business unit was already classified as held for sale in accordance with IFRS 5 as of the reporting date and was presented separately as a discontinued operation. The closing process, which took place after the reporting date, represents a non-adjusting event in accordance with IAS 10, as it does not provide any further information about the circumstances on the reporting date. The transaction is recognized in profit or loss in the following fiscal year. The sales price achieved amounted to USD 984.9 million (EUR 831.8 million) and was settled in cash.
In fiscal year 2026, the outstanding tranches of the syndicated bank loan amounting to EUR 91 million and USD 122 million will be repaid in full due to the sale of the Water Management business unit. These repayments will also be made in full from the Company’s own free cash and cash equivalents from the proceeds of the sale of the Water Management business unit.
In addition, further repayments of promissory note loan tranches in the amount of EUR 96 million (fixed and variable) were made in fiscal year 2026 due to terminations made by NORMA and the closing of the sale of the Water Management business unit. These repayments were also made entirely from the Company’s own free cash and cash equivalents from the proceeds of the sale of the Water Management business unit.
With the approval of the Supervisory Board, the Management Board of NORMA Group SE has decided to launch a share buyback program in the first half of 2026. With this program, the Management Board is submitting a public offer to the shareholders to buy back up to 3,186,240 shares at a price of EUR 16.59 per share. This corresponds to up to 10% of NORMA Group’s current share capital and a total volume of up to EUR 52,859,721.60. The offer period runs until the end of March.
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These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.