Despite structural and organizational challenges and volatile geopolitical, economic and industrial conditions, NORMA Group achieved crucial milestones in 2025.
A significant personnel milestone was the appointment of Birgit Seeger as CEO of NORMA Group SE on November 1, 2025. She succeeded Mark Wilhelms, who had taken over as interim CEO following the early departure of Guido Grandi in February 2025. Birgit Seeger has a clear objective: to work with the Management Board and the team of employees to transform NORMA Group into a sustainably future-proof company, to position it as a global, reliable expert for innovative solutions, and to ensure a return to profitable growth.
The transformation initiated in fiscal year 2025 sets a decisive course with an unambiguous focus: a leaner organization with shorter decision-making processes, resources concentrated on customer benefits and profitable business areas, and increased efficiency through optimized global footprint and pooled capacities. Development, production, and sales will be even more consistently aligned with the requirements of industrial customers. At the same time, NORMA Group is decisively driving the further development of its portfolio, concentrating specifically on unlocking additional market opportunities. All these measures form the basis for long-term competitiveness. In an era where industrial strength and technological excellence are more crucial than ever for success, the guiding principle of the Annual Report,
"FOCUS Industrial Powerhouse"
underscores the maintenance and expansion of the company's position as a market leader in joining technology. Innovative strength, operational excellence, and a global growth orientation represent key levers for maintaining and expanding market leadership and for the sustainable creation of stakeholder value.
Against this strategic backdrop, the successful sale of the Water Management business unit to Advanced Drainage Systems Inc. marked a significant milestone. The transaction, completed on February 2, 2026, represents a new beginning: it is the starting point for the Group's focus on the core areas of the Industrial Powerhouse. The net proceeds of approximately EUR 650 million resulting from the sale will not only enable the reduction of the majority of the company's debt but also create scope for targeted investments in the Industry Applications business – precisely the area where NewNORMA holds considerable growth potential. At the same time, it is important to ensure that you, our valued shareholders, appropriately participate in the proceeds of the sale. The Management Board and Supervisory Board therefore intend to return up to EUR 260 million to the owners of NORMA Group SE. With the approval of the Supervisory Board, the Management Board resolved on February 25, 2026, as a first step, to launch a share buyback program. Between February 27 and approximately March 27, NORMA Group will make a public buyback offer to its shareholders for up to 3,186,240 shares at a price of EUR 16.59 per share. This corresponds to up to 10% of the current share capital and a volume of up to EUR 52.86 million.
NORMA Group thus delivered on its anticipated goals for fiscal year 2025. The company also met its forecasts for the key performance indicators. Group sales of EUR 821.7 million and the adjusted EBIT margin of 0.8% developed within the expected ranges. At EUR 95.8 million, the operating net cash flow even slightly exceeded the target. Overall, however, it must be noted that the general conditions during the fiscal year were volatile and characterized by an uncertain global environment. In particular, protectionist measures and tariffs burdened global supply chains. Persistent cost and competitive pressures posed significant challenges for the entire industry. These uncertainties dampened demand in key customer industries of NORMA Group, such as truck manufacturing and construction. Additionally, weak distribution of joining components weighed on performance. Although measures to increase efficiency, including in particular initial successful production relocations and plant closures, had a positive effect
on manufacturing and overhead costs, the effects of the decline in sales, along with persistently high personnel costs and special logistics costs, could only be partially mitigated.
Many of you, our valued shareholders and business partners, have been supporting NORMA Group for many years. You can be assured that we are fully aware of our responsibility to the company. We therefore continue to view 2026 with due caution, as cost pressures will persist for the time being, and geopolitical uncertainties and increasingly stringent regulatory requirements will continue to shape our market environment. In this context, technological progress, more efficient processes in manufacturing and administration, and the consistent reduction of complexity will be key drivers of our future development. These are topics that we are addressing with great urgency through the "Step Up" program and the global transformation, following a clear plan. The new NORMA is gradually taking shape. Despite all the challenges, we also see numerous opportunities: These include the long-term growth drivers of electrification, digitalization, and renewable energies, as well as new and interesting industrial segments in which high-precision and reliable joining technology plays a key role. With our many years of experience, comprehensive engineering expertise, and customer focus, we create sustainable added value.
The successful implementation of all this is only possible thanks to the commitment, expertise, and determination of our employees – a team that drives the transformation of NORMA Group into an Industrial Powerhouse day after day. We extend our sincere thanks to our employees for their dedication, their willingness to perform, and their loyalty.
Dear shareholders, the Management Board and Supervisory Board plan to propose to the Annual General Meeting on July 1, 2026, a dividend of EUR 0.14 per dividend-bearing share, as a token of our appreciation for your loyalty. This corresponds to a payout ratio of approximately 31.1% of the adjusted net income for the 2025 fiscal year and is therefore in line with our sustainable dividend policy. We assure you that we will continue to focus steadfastly on NewNORMA – the future Industrial Powerhouse. At the same time, we would be delighted if you continue to actively support us on our transformation journey.
Sincerely,
Birgit Seeger
Chief Executive Officer (CEO)
Annette Stieve
Member of the Management Board (CFO)
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.