Principles of the Group
A detailed overview of NORMA Group SE’s business activities, objectives and strategy is provided in the 2021 Annual Report. The statements contained therein remain valid. There were no significant changes in the first half of 2022.
The development of the key financial and non-financial performance indicators for the management of the Group in the first half of 2022 is shown in the following tables.
FINANCIAL CONTROL PARAMETERS | |||
|---|---|---|---|
H1 2022 |
H1 2021 | ||
Consolidated sales |
EUR million |
622.3 |
568.1 |
Adjusted EBIT1 |
EUR million |
52.7 |
73.0 |
Adjusted EBIT margin1 |
% |
8.5 |
12.8 |
Net operating cash flow |
EUR million |
9.8 |
39.3 |
NORMA Value Added |
EUR million |
4.2 |
17.9 |
1_Adjusted only for acquisition-related costs. | |||
NON-FINANCIAL CONTROL PARAMETERS | |||
|---|---|---|---|
H1 2022 |
H1 2021 | ||
Invention applications |
Number |
10 |
10 |
CO2 emissions1 |
t CO2 e |
2,7832 |
23,536 |
Defective parts per million |
ppm |
4.0 |
4.7 |
1_Greenhouse gas emissions of all production sites resulting from gas consumption (Scope 1) and the purchase of electricity and district heating (Scope 2). Since 2020, CO2 emissions have been a target for determining part of the long-term remuneration of the Management Board. 2_NORMA Group has been purchasing electricity from renewable energies through Energy Attribute Certificates (EAC) since January 2022; as a result, comparison with the previous year is only possible to a limited extent; the figure comparable to the previous year is 22,901. | |||
Research and Development
The main activities of the Research and Development department of NORMA Group are described in detail in the Annual Report 2021.
In addition, the company worked on integrating its research and development areas in the first half of 2022 so that they can continue to support its strategic objectives in the best possible way. This related to the definition of prioritized areas of activity, the evaluation of new ideas and the further integration of the research and development department into individual development processes, for example.
Scouting and innovation projects on technologies, concepts for products, production techniques and materials were driven forward in key areas such as electromobility. The focus was also specifically placed on further increasing NORMA Group’s competitiveness by expanding the product portfolio and developing unique selling points.
The focus of research and development activities in the current reporting period generally remained unchanged on the topics of water management and electromobility, as well as digitalization.
R&D FIGURES | |||||
|---|---|---|---|---|---|
H1 2022 |
H1 2021 | ||||
R&D employees |
Number |
323 |
340 | ||
R&D employee ratio |
% of permanent staff |
5.2 |
5.2 | ||
R&D expenses1 |
EUR million |
20.6 |
16.2 | ||
R&D ratio1 |
% of total sales |
3.3 |
2.9 | ||
1_Due to the increasing strategic relevance of the area of water management, NORMA Group has included R&D expenses in this area in the calculation since the reporting year 2020 and uses total sales as a reference value to determine the R&D ratio (previously 5% of EJT sales). | |||||
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.