Norma Group Se · XETR:NOEJ
Norma — Q3 2023 Earnings Presentation
89 slides from Norma's earnings presentation, Nov 7, 2023
Slide 1: NORMA Group Third Quarter 2023 Results
NORMA GROUP THIRD QUARTER 2023 RESULTS MAINTAL, November 07, 2023 1
Slide 2: Table of Contents
Table of Contents Facts & Figures Q3 2023 Cash Flow & NORMA Value Added 01 NORMA Group achieves solid profitability in the third quarter of 2023 in a subdued market environment → Go to p. 3 04 Positive Net Operating Cash Flow; NORMA Value Added negatively influenced by higher capital costs → Go to p
Slide 3: Facts & Figures – Key Figures Q3 2023
Facts & Figures – Key Figures Q3 2023 Sales Adjusted EBIT Adj. EBIT Margin Decrease of net sales of 6.7% leads Adjusted EBIT of EUR 24.8 million Adjusted EBIT margin of 8.3% to sales of EUR 297.1 million (Q3 2022: EUR 27.0 million) (Q3 2022: 8.5%) (Q3 2022: EUR 318.6 million) Organic Decline of 1.5%
Slide 4: Top Line Development Q3 & Q1–Q3 2023
Top Line Development Q3 & Q1 – Q3 2023 15% Regional (15%) Split APAC − Decrease in Net Sales by 0.5% to EUR 936.1 million 45% (in % actual vs. EMEA in Q1 - Q3 2023 (41%) 40% − Q1 – Q3 2022) Top Line Organic growth of 1.5% in Q1 - Q3 2023 (44%) Americas − Increase in organic growth relates to -2.5% v
Slide 5: Segment Reporting Q3 2023
Segment Reporting Q3 2023 EMEA Americas APAC ▪ EJT (Mobility & New Energy business): Organic ▪ EJT (Mobility & New Energy business): Stable decline of 9.2% in Q3 2023 on high comps and ▪ EJT (Mobility & New Energy business): Strong business development on very high comps due to special effects like
Slide 6: EBITDA & EBIT Margin Development
EBITDA & EBIT Margin Development EUR million 20.3% 19.9% 20.0% 20.0% 22% 19.6% 18.6% 18.0% 17.9% 18.0% 17.5% 17.5% 200 16.9% 16.7% 16.6% 16.5% 16.3% 16.3% 18% 15.2% 15.1% 14.5% 13.6% 13.4% 13.3% 14.0% 13.6% 13.1% 12.5% 12.9% 12.8% 12.4% 12.9% 13.1% 14% 11.6% 11.4% 11.7% 10.7% 150 9.9% 10.0% 8.9% 8.6
Slide 7: Profit & Loss Development Q3 and Q1–Q3 2023
Profit & Loss Development Q3 and Q1 – Q3 2023 Material Costs Gross Profit Adjusted* Personnel Expenses (in EUR million and % of sales) (in EUR million and % of sales) (in EUR million and % of sales) 47.3% 47.7% 47.5% 45.0% 55.7% 53.2% 54.4% 27.1% 26.1% 53.4% 400 50% 50% 200 24.1% 24.9% 400 400 400 5
Slide 8: Operational Adjustments Q1–Q3 2023
Operational Adjustments Q1 – Q3 2023 in EUR million* Reported Adjustments Adjusted Sales 936.1 936.1 EBITDA 117.7 0 117.7 EBITDA margin 12.6% 12.6% 0.6 EBITA 77.4 (depreciation PPA) 78.0 EBITA margin 8.3% 8.3% 15.9 EBIT 58.6 (incl. EUR 15.2 million amortization PPA) 74.5 EBIT margin 6.3% 8.0% 11.9 N
Slide 9: EPS Q3 & Q1–Q3 2023 and Dividend Development
EPS Q3 & Q1 – Q3 2023 and Dividend Development Adjusted EPS* Reported EPS* -23.3% 1 1 1 1 -29.2% 1.52 -19.1% 1.17 1.13 0.80 0.43 -24.1% 0.35 0.29 0.22 0 0 0 0 Q3 2022 Q3 2023 Q1-Q3 2022 Q1-Q3 2023 Q3 2022 Q3 2023 Q1-Q3 2022 Q1-Q3 2023 Net Income 13.7 11.0 48.6 37.3 9.4 7.1 (in EUR million) 36.1 25.4
Slide 10: Equity Ratio, Net Debt and Debt Ratios
Equity Ratio, Net Debt and Debt Ratios Net Debt (in EUR million) Equity Ratio 14.5% 600 Sept. 30, 2022 Dec. 31, 2022 Sept. 30, 2023 133 400 169 Equity Ratio 518 533 (Equity / Balance Sheet 45.7% 45.2% 46.1% 200 350 401 total) 0 Debt Cash Net Debt Debt Cash Net Debt December 31, 2022 September 30, 20
Slide 11: Net Operating Cash Flow Development Q3 & Q1–Q3 2023
Net Operating Cash Flow Development Q3 & Q1 – Q3 2023 in EUR million 2020 2021 2022 Q3 2022 Q3 2023 Variance Q1-Q3 2022 Q1-Q3 2023 Variance (Q3 2023 to Q3 2022) (Q1-Q3 2023 to Q1-Q3 2022) (Adjusted) EBITDA 99.3 167.6 157.2 41.8 39.1 6.6% 122.9 117.7 -4.3% Δ ± Trade Working capital 20.2 -20.4 -38.8 -
Slide 12: NORMA Value Added
NORMA Value Added • The NORMA Value Added (NOVA) is NORMA Group‘s long term strategic target in EUR million Q3 2022 Q3 2023 Q1-Q3 2022 Q1-Q3 2023 • NORMA Group determines the annual value creation in form of the NORMA Value Added Adjusted EBIT after taxes 15.6 15.0 54.0 47.3 (NOVA) Capital Cost (WAC
Slide 13: Step Up Update
Step Up Update Growth measures Efficiency measures Step-Up overall program − Step Up is now fully integrated as a focused continuous improvement tool for the company − A comprehensive project management, tracking and reporting system is implemented − More than 300 growth & efficiency initiatives hav
Slide 14: Outlook 2023 – Company Guidance
Outlook 2023 – Company Guidance Organic Group sales growth In the range of around 0% to 1% Financial Result Up to EUR -22 million Tax Rate (adjusted) Between 35% and 39% EJT Low single-digit organic sales growth SJT Low single-digit organic sales decline Adjusted Earnings Per Share Decrease compared
Slide 15: NORMA Group Full Year 2022 Results
NORMA GROUP FULL YEAR 2022 RESULTS MAINTAL, MARCH 28, 2023 15
Slide 16: Table of Contents – FY 2022
Table of Contents – FY 2022 FY 2022 Review Strategy & Business Model 01 Sales growth in FY 2022 due to pricing and despite challenging environment in 2022 → Go to p. 15 06 Strong business model with growth opportunities driven by global mega trends → Go to p. 44 P&L Statement & Segment Reporting Fin
Slide 17: Facts & Figures FY 2022 – Key Figures (I/II)
Facts & Figures FY 2022 – Key Figures (I/II) Sales Organic Sales Adjusted EBIT Increase of net sales of 13.8% leads Organic sales growth of 7.1% for the Decreased adjusted EBIT of EUR 99.0 to sales of EUR 1,243.0 million full year 2022 million (2021: EUR 1,091.9 million) (2021: 16.2%) (2021: EUR 113
Slide 18: Facts & Figures FY 2022 – Key Figures (II/II)
Facts & Figures FY 2022 – Key Figures (II/II) Equity Net Debt Leverage Improved equity ratio of 45.2% Net Debt increased to EUR 349.8 Increased Leverage of 2.2x (2021: 44.6 %) million (December 31, 2021: 1.9x) (2021: EUR 318.5 million) Net Operating Cashflow NOVA Corporate Responsibility Decreased N
Slide 19: Segment Reporting & P&L Statement
SEGMENT REPORTING & P&L STATEMENT 19
Slide 20: FY 2022 Top Line Development
FY 2022 Top Line Development 100 80 6.7%* 1400 + 13.8% 7.1%* 80 1200 60 1000 60 800 40 73.1 600 1,243.0 40 11.3%* 78.0 9.6%* 1,091.9 10.3%* 6.3%* 12.9%* 19.9%* 17.1%* 7.5%* 400 20 5.8%* 20 5.3%* 4.0%* 2.2%* 200 27.4 29.2 21.2 25.5 304.4 317.9 318.6 302.1 6.4 15.0 11.5 14.9 0 0 0 FY 21 Q1 22 Q2 22 Q3
Slide 21: FY 2022 Segment Reporting – Sales Development (I/II)
FY 2022 Segment Reporting – Sales Development (I/II) 14% (16%) APAC 46% Regional (42%) EMEA Split 40% (in % actual vs. (42%) (prev. year)) Americas AMERICAS Sales EMEA Sales APAC Sales +25.7% +5.8% +3.9% 574 457 462 489 180 173 2021 2022 2021 2022 2021 2022 21
Slide 22: FY 2022 Segment Reporting – Sales Development (II/II)
FY 2022 Segment Reporting – Sales Development (II/II) EMEA Americas APAC ▪ EJT: Excellent recovery in H2 2022 ▪ EJT: Strong performance in H2 2022 also ▪ EJT: Lockdowns in China in Q2 2022 lead especially in Light Vehicles leads to high due to pricing leads to double-digit to organic decline of 4.4%
Slide 23: Revenue Track Record
Revenue Track Record In EUR million 2012-2022: 1400 10 years of around 7% CAGR 1200 1000 800 600 1,243 1,084 1,100 1,092 1,017 952 890 895 400 636 695 605 200 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Thereof organic development (in EUR million and %) Ø 10 Year 2013 2014 2015 2016 201
Slide 24: FY 2022 Balanced Sales Mix
FY 2022 Balanced Sales Mix Engineered Joining Technology (EJT) Standardized Joining Technology (SJT) Industrial Suppliers Water Management 25% 25% (24%) (24%) Mobility & New Energy 44% (43%) 56% (57%) Heavy Vehicles OEM 11% (10%) 19% (19%) Industry Applications 20% (23%) Light Vehicles OEM FY 2022 (
Slide 25: EBITDA & EBIT Margin Development
EBITDA & EBIT Margin Development EUR million 20.0% 20.3% 19.9% 20.0% 20.0% 22% 19.6% 19.1% 18.7% 18.9% 17.6% 18.0% 17.9% 18.0% 17.5% 17.5% 200 16.3% 18% 15.1% 14.5% 14.0% 16.8% 16.9% 16.7% 16.6% 16.5% 13.6% 13.1% 16.3% 16.2% 12.5% 12.4% 14% 15.1% 15.0% 11.6% 11.4% 14.4% 150 13.6% 13.4% 13.3% 12.9% F
Slide 26: FY 2022 (Adjusted) Profit & Loss Development
FY 2022 (Adjusted) Profit & Loss Development Material Costs Gross Profit Personnel Expenses (in EUR million and % of sales) (in EUR million and % of sales) (in EUR million and % of sales) 45.8% 48.0% 50% 56.1% 500 800 53.5% 26.1% 24.9% 600 600 50% 20% 400 597.0 30% 250 500.0 400 612.4 664.4 284.9 30
Slide 27: Operational Adjustments 2022 and Outlook 2023-2024
Operational Adjustments 2022 and Outlook 2023-2024 in EUR million* Reported Adjustments Adjusted FY 2023 FY 2024 Sales 1,243.0 1,243.0 EBITDA 157.2 0 157.2 0 0 EBITDA margin 12.6% 12.6% EBITA 105.6 1.3 106.9 ca. 0.8 ca. 0.8 (depreciation PPA) (depreciation PPA) (depreciation PPA) EBITA margin 8.5% 8
Slide 28: FY 2022 EPS and Dividend Development
FY 2022 EPS and Dividend Development Adjusted EPS in EUR Reported EPS in EUR Dividend per share in EUR 3 3 -22.6% -30.1% Dividend proposal of EUR 2 2 -26.7% 0.55 or 31.3% of adjusted 1 2.27 1 Group net profit for the 1.75 1.76 0.75 1.23 0.55 fiscal year 2022 to the AGM 0 0 on May 11th 2023 2021 2022
Slide 29: FY 2022 Profit and Loss Statement
FY 2022 Profit and Loss Statement in EUR million Adjusted Reported and % 2021 2022 2021 2022 Sales 1,091.9 1,243.0 1,091.9 1,243.0 Gross Profit 612.4 664.4 612.4 664.4 EBITDA 167.6 157.2 167.6 157.2 in % of sales 15.3% 12.6% 15.3% 12.6% EBITA 122.5 106.9 121.0 105.6 in % of sales 11.2% 8.6% 11.1% 8.
Slide 30: Balance Sheet & Maturity Profile
BALANCE SHEET & MATURITY PROFILE 30
Slide 31: FY 2022 Working Capital Development
FY 2022 Working Capital Development Working capital incl. (Reverse) Factoring and ABS programs (in EUR million and % of sales) 600 18.5% 18.1%** 18.5% 20% 17.4% 17.1% 17.5% 16.9% 17.4% 16.1% 15.6% 16.5% Working Capital Ratio 400 15% increased by 110 BPs due 162 15.0% 186 153 13.2% 14.8% 16.5% 14.8%
Slide 32: FY 2022 Equity Ratio, Net Debt and Debt Ratios
FY 2022 Equity Ratio, Net Debt and Debt Ratios Net Debt (in EUR million) Debt Ratios 9.8% Dec. 31, 2021 Dec. 31, 2022 600 Leverage 1.9x 2.2x 400 186 169 (Net debt / EBITDA) 504 518 Gearing 200 318 350 (Net debt / equity) 0.5x 0.5x 0 Debt Cash Net Debt Debt Cash Net Debt Dec. 31, 2021 Dec. 31, 2022 i
Slide 33: Solid Maturity Profile
Solid Maturity Profile 300 Financial Instruments (in EUR million) 42 200 25 254 100 43 14 27 43 16 0 2 ▪ Solid maturity profile with 2023 2024 2025 2026 longterm financing strategy Syndicated Loan Promissory Note 1 Promissory Note 2 Promissory Note 3 Commercial Paper Program established ▪ Refinancin
Slide 34: FY 2022 Balance Sheet
FY 2022 Balance Sheet in EUR million Dec 31, 2021 Dec 31, 2022 in EUR million Dec 31, 2021 Dec 31, 2022 Assets Equity and liabilities Non-current assets Equity Goodwill / Other intangible assets / 883.2 894.1 Total equity 668.6 705.4 Property, plant & equipment Other non-financial assets / Derivativ
Slide 35: Cash Flow & NORMA Value Added
CASH FLOW & NORMA VALUE ADDED 35
Slide 36: Cash Flow Development 2012–2022
Cash Flow Development 2012 - 2022 Net Operating Cash Flow in EUR million 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Variance (2022 to 2021) (Adjusted) EBITDA 120.8 129.3 138.4 177.5 179.4 199.7 201.4 187.2 99.3 167.6 157.2 -6.2% Δ ± Trade Working capital -9.8 +5.1 +10.4 -0.6 +17.0 -19.1
Slide 37: FY 2022 NORMA Value Added and ROCE
FY 2022 NORMA Value Added and ROCE in EUR million 2021 2022 • The NORMA Value Added (NOVA) is NORMA Group‘s long Adjusted EBIT after taxes 81.2 64.2 term strategic target Capital Cost (WACC* x CE per January 1st) -65.2 -91.3 • NORMA Group determines the annual value creation in form of the NORMA Val
Slide 38: Company Improvement Program Step Up
COMPANY IMPROVEMENT PROGRAM “STEP UP ” 38
Slide 39: Step Up Program (I/V): Industry Split 2027
NORMA Group Step Up Program (I/V): Industry Split 2027 With the Step Up program, NORMA Group ensures long-term profitable growth and operational efficiency Growth & Efficiency Step Up consists of growth and investment plans for the three strategic business units (SBUs) and measures to increase opera
Slide 40: Step Up Program (II/V): Growth
NORMA Group Step Up Program (II/V): Growth 40% 60% Product development for alternative Growth via extension of Growth via extension of powertrain technology Digital Commerce Digital Commerce Growth with focus on Growth via new business (product Growth via new business (product China & E-Mobility dev
Slide 41: Step Up Program (III/V): Capital Allocation
NORMA Group Step Up Program (III/V): Capital Allocation Better and more resilient business mix Increase „competition for Improved NORMA Group’s capital allocation process capital“ Fade out and prevent of low margin business 41
Slide 42: Step Up Program (IV/V): Efficiency
NORMA Group Step Up Program (IV/V): Efficiency NORMA Business System (NBS) Reduce complexity in supply chain processes Implementation Increase connection between sales, Further automatization & production and supply chain management Industry 4.0 Implementation and constant monitoring of Better use o
Slide 43: Step Up Program (V/V): Margin
NORMA Group Step Up Program (V/V): Margin Further growth & efficiency measures lead to NORMA Group‘s EBIT midterm 15-20% 15-20% Double-digit margin on double- digit levels 43
Slide 44: Strategy & Business Model
(cNSEN4 STRATEGY & BUSINESS MODEL
Slide 45: Outlook 2023 – Strategy
Outlook 2023 – Strategy Business Focus Mergers & Acquisitions Digitization Global growth in Water Continue dialogue with potential Expand e-commerce Management and Industry M&A targets in Water Management channels Applications with selective and Industry Applications as well as expansion in Mobility
Slide 46: Strategy Update
Strategy Update NORMA Group Strategy including Corporate Responsibility Roadmap Focus on our stakeholders … Strong focus on sustainable economic activities ✓ Exceeding ✓ customer … by being market leader expectations Maintain high quality standards in Joining & Fluid-handling technology … … in exist
Slide 47: Strategic focus by region
NORMA Group Strategy – Strategic focus by region Americas EMEA Asia-Pacific ▪ Water Management: ▪ Water Management: ▪ Water Management: Expansion of stormwater and irrigation business Organic expansion might be enhanced via M&A Expansion of existing business ▪ Industry Applications: ▪ Industry Appli
Slide 48: NORMA Group's Key Facts
NORMA Group’s Key Facts NORMA serves various markets via its strategic business units Water Management, Industry Applications and Mobility & New Energy One of the global market and Sales of about Delivers to more than Listed on the Frankfurt Stock Headquarters in Maintal technology leaders in EUR 1,
Slide 49: Proven business model addresses global megatrends
Proven business model addresses global megatrends Continuous new Emission Storm water products help Landscape developments help customers avoid landscape and reduction customers fulfill fleet structure damages Protection consumption regulations Assembly Value creation by NORMA products addressing gl
Slide 50: NORMA Group's products – selected examples
NORMA Group‘s products – selected examples Water Products Fluid Products Fasten Products Dura Flo HD PS3-Connector Torro Clamp ▪ Dripwater irrigation product ▪ "Push & Seal" plastic quick connector ▪ Multi-range hose clamp remaining the ▪ Saves up to 30% of water ▪ Ideal for the secure connection of
Slide 51: Good Balance in the Two Distinct Ways to Market
Good Balance in the Two Distinct Ways to Market Standardized Joining Technology (SJT) Engineered Joining Technology (EJT) ca. 44% of 2022 sales ca. 56% of 2022 sales High quality, branded and standardized joining Innovation and product solution partner for products provided at competitive prices to
Slide 52: Selective Competitors per SBU
Selective Competitors per SBU Water Management Industry Applications Mobility & New Energy ▪ Rain Bird (US) ▪ Ideal Tridon (US) ▪ Oetiker (CH) ▪ Hunter (US) ▪ Oetiker (CH) ▪ Akwel (FRA) ▪ Spears (US) ▪ Straub Werke (CH) ▪ Caillau (FRA) ▪ Netafim (ISR) ▪ Kale (TUR) ▪ Teconnex (UK) ▪ ADS (US) ▪ Mikalo
Slide 53: Water Management at NORMA Group
Water Management at NORMA Group Scarce ressource calling for water handling products Acquisition of Australia Acquisition of Chien Guyco and Acquisition of NDS, Acquisition of 1992 2012 2013 2014 2018 Jin Plastic, Malaysia Davydick&Co, USA Kimplas, India Australia ▪ Product focus: joining ▪ Expandin
Slide 54: NDS provides wide range of Water Management solutions
NDS provides wide range of Water Management solutions Broad diversification in terms of application areas and products Efficient Landscape Stormwater Irrigation ca. 30% Management ca. 60% Flow Management and Others ca. 10% ▪ Large target markets for all NDS application areas nationwide and internati
Slide 55: NDS has deep and longstanding Customer Relationships
NDS has deep and longstanding Customer Relationships Highly differentiated distribution and service model ▪ More than 3,000 products ▪ Over 12,300 customer locations (retail and wholesale customers) ▪ Two production sites (CA & MX), five warehouses in the US, more than 600 employees ▪ Orders receive
Slide 56: Business Opportunities in Water Management
Business Opportunities in Water Management Water Management Market for Joining and Fluid Handling Technology Stormwater Quantity of Water Management Quality of Water Reuse of Water Efficient Landscape Irrigation Flow Management and Others NORMA Group‘s current water business Further Business Opportu
Slide 57: Growth opportunities for E-Mobility Developments
NORMA Group’s growth opportunities for E-Mobility Developments Growth opportunities within the car Further growth opportunities outside the car Battery Thermal Management Coolant Systems ✓ Charging ✓ Joining ✓ Colling Power Electronics and Motors Cooling stations and technology systems for HVAC / He
Slide 58: NORMA Group well on track for Mobility & New Energy
NORMA Group well on track for Mobility & New Energy Benefit from hybridization and maintain content in Battery Electric Vehicles (BEV) vs. Internal Combustion Engines (ICE) ICE, Hybrid & EV development* Higher content (in production million and % of each years total volume) per vehicle 120 Thermal 8
Slide 59: Premium Pricing through Technology and Innovation Leadership
Premium Pricing through Technology and Innovation Leadership in Mission-Critical Components Mission-criticality: Small relative costs – high impact Basis for premium pricing Market leadership Technology Quality Innovation Tailor-made solutions ca. EUR 40 in the exhaust system ca. EUR 95 in other ca.
Slide 60: Enhanced Stability through Broad Diversification
Enhanced Stability through Broad Diversification Across Products, End Markets and Regions Examples of NORMA Group’s key end markets Construction / infrastructure / Commercial vehicles Engines Passenger vehicles Construction equipment water management Wholesalers & technical Agricultural equipment Sh
Slide 61: Mission-Critical Products with Clear Added-Value
NORMA Group Provides Mission-Critical Products and Solutions with Clear Added-Value A World without NORMA Group Customer Impact ▪ Reputation loss ▪ Image loss ▪ Warranty costs ▪ Non-compliance with legal requirements/regulations Loss of End Customers 61
Slide 62: History of Acquisitions and Foundations
History of Acquisitions and Foundations Acquisition Acquisition 2018 Kimplas, India Statek, Germany Acquisition Acquisition 2017 Lifial, Portugal Fengfan, China Acquisition 2016 Autoline Business, France Acquisition Foundation Acquisition 2014 National Diversified Sales, NORMA China II Five Star, US
Slide 63: Acquisitions since IPO
14 Acquisitions since IPO representing 46% of sales in 2011 Sales Consolidation Effects Date of Total (in EUR million) Acquisition Sales CONNECTORS Verbindungstechnik AG, Switzerland 04/12 Market entry in connecting technology in Pharma & Biotech 16.6 Nordic Metalblok S.r.l., Italy 07/12 Market cons
Slide 64: NORMA Group Worldwide
NORMA Group Worldwide EMEA Czech Republic (P) France (P, D) Germany (P, D) Italy (D) Poland (P, D) Portugal (P,D) Serbia (P) Spain (D) Sweden (P, D) Switzerland (P, D) Turkey (D) United Kingdom (P, D) Americas Brazil (P, D) Mexico (P, D) USA (P, D) Asia-Pacific Australia (D) China (P, D) India (P, D
Slide 65: Key Investment Highlights
NORMA Group – Key Investment Highlights Technology & Future Markets Focus on Joining & Fluid-handling technology with profitable & sustainable growth in existing & future markets driven by global mega trends such as climate change and resource scarcity Business Units Active in Water Management, Indu
Slide 66: Management Board of NORMA Group SE
Management Board of NORMA Group SE Guido Grandi Annette Stieve Dr. Daniel Heymann Chairman of the Management Board, Member of the Management Board, Member of the Management Board, CEO of NORMA Group SE CFO of NORMA Group SE COO of NORMA Group SE since June 1, 2023 since October 1, 2020 since May 1,
Slide 67: Financial Track Record
FINANCIAL TRACK RECORD 67
Slide 68: Long-term P&L Development (I/II)
Long-term P&L Development (I/II) Sales (in EUR million) (Adjusted) Material Costs (in EUR million and % of sales) 1500 600 1200 400 900 597 600 1243 473 477 500 1017 1084 1100 1092 200 419 417 890 895 952 363 353 300 636 695 262 264 269 290 581 605 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 20
Slide 69: Long-term P&L Development (II/II)
Long-term P&L Development (II/II) Net Expenses from adj. other oper. Income and Expenses (in Adjusted EBITDA (in EUR million and % of sales) EUR million and % of sales) 200 20% 250 25% 15,9% 20,1% 20,0% 20,3% 19,9% 20,0% 20,0% 19,6% 14,6% 14,6% 18,6% 13,7% 13,7% 13,3% 200 17,0% 20% 150 13,0% 12,8% 1
Slide 70: Long-term Margin Development
Long-term Margin Development (adjusted and reported) 20.1% 20.0% 20.3% 20.0% 20.0% 19.9% 19.6% 20% 18.6% 17.0% 17.1% 16.8% 16.9% 15.3% 16.7% 16.6% 16.5% 16.3% 15% 15.2% 13.1% 12.6% 12.6% 10.4% 12.4% 10% 10.4% 8.5% 8.0% 8.0% 5% 4.8% 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1-Q3
Slide 71: Long-term Cash, Working Capital and CAPEX Development
Long-term Cash, Working Capital and CAPEX Development Net Operating Cash Flow (in EUR million) Trade Working Capital (in EUR million and % of sales) 200 18,3% 18,5% 18,1% 17,5% 18,5% 400 17,4% 17,1% 16,5% 16,8% 17,4% 20% 16,1% 15,6% 186 162 150 153 143 162 157 15% 200 123 124 108 81 79 90 208 251 10
Slide 72: Long-term Adjustments on EBIT level
Long-term Adjustments on EBIT level in EUR million 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Reported EBIT 76.6 94.4 99.5 97.8 124.8 120.0 137.8 133.5 96.7 20.1 92.1 99.0 + Acquisition & Rightsizing Costs* 16.8 0 0 6.9 3.6 4.8 3.5 4.4 13.4 0 0 0 + PPA Depreciation 1.2 0.3 0.5 1.3 2
Slide 73: Corporate Responsibility
CORPORATE RESPONSIBILITY 73
Slide 74: Megatrends drive NORMA Group's business
Megatrends drive NORMA Group’s business Resource Responsible use of resources Scarcity Energy efficiency Climate Change Environmental protection 74
Slide 75: Corporate Responsibility Commitment
NORMA Group‘s Corporate Responsibility Commitment … and its CR actions contribute to 6 of the UN Sustainable Development NORMA Group is commited to several initiatives, charters and guidelines… Goals Membership with UN Global Compact ▪ Ten principles in the areas of human rights, labor, the environm
Slide 76: What is Corporate Responsibility at NORMA Group?
What is Corporate Responsibility at NORMA Group? • Sustainable products • Management systems Find all details in • Climate protection NORMA Group’s CR • Water Policy • Efficient production and Environment waste management → Find out more about NORMA Group‘s environmental performance • Employee satis
Slide 77: Sustainability key figures – Change yoy
Sustainability key figures – Change yoy 2021 2022 % change CO2 emissions marked-based -88.8 (Scope 1 and 2) in tCO2 equivalents 43,449 4,879 Environment Energy consumption -14.5 in kWh/EUR thousand of revenue 119.0 101.8 Water consumption 147.1 131.6 -10.5 liter/EUR thousand of revenue Accident rate
Slide 78: EU Taxonomy Reporting
EU Taxonomy Reporting ▪ Second time adoption of the EU Taxonomy for the FY 2022 as required by the EU Commission ▪ NORMA Group‘s EU Taxonomoy reporting for FY 2022 only covers Taxonomy-eligible economic activities (not „aligned“) ▪ EU Taxonomy Alignment = sustainable economic activities according to
Slide 79: Corporate Responsibility Targets for 2023
Corporate Responsibility Targets for 2023 Environ-ment Gover-nance Social CO2 emissions Incident rate Defective parts < 9,800 tons < 4.35 < 5.5 Indicator: Scope 1 and 2, tons Indicator: accidents / 1,000 Indicator: parts per million employees Water consumption Training hours Customer complaints 2% i
Slide 80: Ratings confirm NORMA Group's approach to CR
Ratings confirm NORMA Group’s approach to CR • AA (on a scale from CCC to AAA): „MSCI leader“ Awards • Top 38% within the industrials benchmark • Score: 75 out of 100 2021: “German Award for Sustainability Projects • Top 1% of rating universe 2021” for NORMA Clean Water in the “Equal (>35,000 compan
Slide 81: Environmental Impact of Products as key selling point
Environmental Impact of Products as key selling point Climate Water ▪ eM Twist Quick Connector, designed for e-mobility ▪ Drip irrigation saves up to 60% in comparison to regular sprinkler ▪ Less weight: More than 25% lighter than before irrigation ▪ Reduced CO2 emissions: Estimated 32% saved in the
Slide 82: Social Commitment
NORMA Groups’ Social Commitment NORMA Clean Water NORMA Help Day ▪ Partner: child aid organization Plan International ▪ Help Day: Global volunteering day ▪ Focus: Projects with focus on water management solutions ▪ 2014 – 2018: NORMA Clean Water India ▪ Renovation of sanitary facilities at 25 school
Slide 83: Sustainability in Purchasing
Sustainability in Purchasing Supplier Code of ▪ Basic understanding of sustainability management in purchasing, signature is a condition to be Conduct graded “preferred” supplier ▪ Environmental and health and safety certificates as well as sustainability self-assessment are criteria Supplier-Scorin
Slide 84: Share Information & Others
SHARE INFORMATION & OTHERS 84
Slide 85: Current Shareholder Structure
Current Shareholder Structure Identified Institutional Shareholders* Free Float as of October 9th, 2023 includes** The Capital Group Companies, Inc., Los Angeles, USA 10.01% Teleios Capital Partners, Zug, Suisse 5.50% 27% SMALLCAP World Fund, Lutherville-Timonium, USA 5.26% 2% SPICE Two Investment C
Slide 86: Analyst Coverage
Analyst Coverage Recommendations* Key index inclusions Nikolai Kempf Peter Rothenaicher Christian Glowa 4 7 Thorsten Reigber Daniel Kukalj Hans-Joachim Heimbürger Buy Hold Average price target* Visit our IR website Klaus Ringel Yasmin Steilen Marc-René Tonn for further information & details 20.75 EU
Slide 87: Index-based Share Price Performance
Index-based Share Price Performance compared with SDAX, MDAX & DAX 180% 160% 140% 120% 100% 80% 60% 40% 20% 0% Dez Jan Feb Mrz Apr Mai Jun Jul Aug Sep Okt NORMA Group SE DAX SDAX MDAX 87
Slide 88: Contacts & Event Calendar
Contacts & Event Calendar Event Date Publication of Preliminary Results FY 2023 February 13, 2024 Publication of Full Year 2023 Results March 26, 2024 Publication of Interim Results Q1 2024 May 7, 2024 Publication of Interim Results Q2 2024 August 13, 2024 Publication of Interim Results Q3 2024 Nove
Slide 89: Disclaimer
Disclaimer This presentation contains certain future-oriented statements. Future-oriented statements include all statements which do not relate to historical facts and events and contain future-oriented expressions such as ‘believe,’ ‘estimate,’ ‘assume,’ ‘expect,’ ‘forecast,’ ‘intend,’ ‘could’ or ‘