NORMA Group SE signed an agreement on the sale of its Water Management business on September 23, 2025. WWW.NORMAGROUP.COM. The Management Board had decided to divest the water business at the end of November 2024 and to implement a strategic realignment aimed at focusing more strongly on the Group’s established synergistic core businesses, namely Industry Applications and Mobility & New Energy. WWW.NORMAGROUP.COM
The Water Management business was not previously classified as discontinued operation or held for sale. The prior-year figures in the consolidated income statement were adjusted accordingly to present the discontinued operation separately from the continuing operations.
Intra-group transactions were completely eliminated from the consolidated financial results. The eliminations were allocated to continuing operations and the discontinued operation in a manner that reflects the continuation of these transactions after the disposal, as the Management Board considers this presentation useful.
Transactions between the continuing and discontinued business units were analyzed from an economic perspective and, based on this analysis, eliminated from one of the two units. Transaction costs already incurred in connection with the divestment process were allocated to the discontinued business unit.
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Profit from discontinued business operations
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in EUR thousands
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Q1–Q3 2025
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Q1–Q3 2024
|
|
Revenue
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205,089
|
211,444
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Net expenses
|
-179,432
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-175,717
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Earnings from operating activities (EBIT)
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25,657
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35,727
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Costs included therein in connection with the sale of the discontinued operation
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-14,926
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n/a
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Income taxes on the profit from the sale of the discontinued operation
|
n/a
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n/a
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Profit (loss) from discontinued operation, after taxes
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17,392
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28,500
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Undiluted earnings per share (EUR)
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0.55
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0.89
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The profit after tax from the discontinued operation of EUR 17,392 thousand (2024: profit of EUR 28,500 thousand) is fully attributable to the owners of the parent company. Of the loss from the continuing operations of EUR 75,769 thousand (2024: loss of EUR 7,384 thousand), an amount of EUR 62 thousand is not attributable to the owners of the parent company (2024: EUR 115 thousand).
The cash flow from the discontinued business can be reconciled as follows:
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Cash flow from discontinued operation
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in EUR thousands
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Q1-Q3 2025
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Q1-Q3 2024
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Cash inflow from operating activities
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49,188
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33,228
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Cash inflow from investment activity
|
-7,723
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-6,075
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Cash inflow from financing activities
|
-159
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-3,715
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|
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Net increase in cash and cash equivalents generated by the discontinued business unit
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41,306
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23,438
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Disposal group classified as held for sale
Following the signing of the agreement for the sale of the water business in September 2025, the companies to be divested are presented as a group held for sale. The closing of the transaction is subject to customary closing conditions, including regulatory approvals. Closing is currently expected in the first quarter of 2026.
Assets and liabilities of the disposal group classified as held for sale7
As of September 30, 2025, the disposal group was stated at fair value less costs to sell. It comprised the following assets and liabilities:
7 NORMA Group has chosen to disclose the main categories of assets and liabilities that are classified as held for sale separately in this quarterly statement.
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Assets of the disposal group that are classified as held for sale
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| in EUR thousands |
Sept 30, 2025
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Goodwill
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168,089
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Other intangible assets
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98,948
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Property, plant and equipment
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61,864
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Other non-financial assets
|
—
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Income tax assets
|
57
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Deferred income tax assets
|
872
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Non-current assets
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329,829
|
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Inventories
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50,130
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Other non-financial assets
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1,465
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Other financial assets
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4,587
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Income tax assets
|
795
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Trade and other receivables
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28,490
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Cash and cash equivalents
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2,658
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Current assets
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88,125
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Assets held for sale
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417,954
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Debts of the disposal group classified as held for sale
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| in EUR thousands |
Sept 30, 2025
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Pension obligations
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104
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Provisions
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939
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Other non-financial liabilities
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364
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Lease liabilities
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9,857
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Deferred income tax liabilities
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26,031
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Long-term debt
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37,294
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Provisions
|
322
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Loan liabilities
|
602
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Other non-financial liabilities
|
6,979
|
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Contractual obligations
|
4
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Lease liabilities
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3,879
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Other financial liabilities
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6,356
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Income tax liabilities
|
17
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Trade payables and similar debts
|
27,747
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Short-term debt
|
45,905
|
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Debts related to assets held for sale
|
83,200
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Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.