DGAP-News

NORMA Group raises dividend for the sixth time in a row

DGAP-News: NORMA Group SE / Key word(s): Dividend NORMA Group raises dividend for the sixth time in a row 23.05.2017 / 12:56 The issuer is solely responsible for the content of this announcement. NORMA Group raises dividend for the sixth time in a row Maintal/Frankfurt am Main, Germany, May 23, 2017 - The shareholders of NORMA Group, a global market leader in engineered joining technology, have approved a dividend of EUR 0.95 per share (2015: EUR 0.90) by a large majority. This was the result of today's Annual General Meeting in Frankfurt am Main. The total dividend is around EUR 30.3 million (2015: EUR 28.7 million). This equates to a distribution rate of 32.0 percent as measured by the adjusted consolidated net profit for 2016 (2015: 32.3 percent). Since its IPO in 2011, NORMA Group has increased its dividend for the sixth year in a row and kept to its sustainable dividend policy of a dividend rate of 30 to 35 percent.

"We had to adjust the forecast for our organic growth slightly downwards in November 2016 due to the persistently weak demand for commercial vehicles and agricultural machines in the US," said Werner Deggim, CEO of NORMA Group. "At the end of fiscal year 2016, we achieved organic sales growth of 0.9 percent, which was within our adjusted forecast from November. At the same time, we maintained our profitability and increased our earnings per share. We're pleased that our shareholders can partake in this development in the form of an increased dividend."

Slight growth in 2016

In fiscal year 2016, NORMA Group increased its sales by 0.6 percent to EUR 894.9 million (2015: EUR 889.6 million). Adjusted earnings before interest, taxes, depreciation and amortization of intangible assets (adjusted EBITA) improved by 0.8 percent to EUR 157.5 million (2015: EUR 156.3 million). The adjusted EBITA margin remained constant at 17.6 percent (2015: 17.6 percent).

"The year 2016 once again showed us that our strategy of geographic and sectoral diversification is paying off. Our latest acquisitions of Autoline and Lifial also contribute to this broad foundation. As a result of the continuous expansion of our portfolio through acquisitions, as well as through our own development of product innovations, we are able to leverage current and future trends for our ongoing growth," said Werner Deggim.