March 25, 2020 / 6:20 AM / 4 months ago

BRIEF-NORMA Group FY Adjusted Earnings After Taxes Down At EUR 87.8 Million

March 25 (Reuters) - NORMA GROUP SE:

* INCREASED ITS GROUP SALES BY 1.5 PERCENT TO APPROXIMATELY EUR 1,100.1 MILLION IN FISCAL YEAR 2019 (2018: EUR 1,084.1 MILLION).

* OUTLOOK 2020: INFLUENCED BY COVID-19

* FY ORGANIC SALES REVENUES DOWN BY 2.0% DUE TO PERSISTENTLY DIFFICULT SITUATION IN AUTOMOTIVE INDUSTRY

* ASSUMES THAT THE ADJUSTED EBITA MARGIN OF OVER 13.0 PERCENT (2019: 13.2 PERCENT; 2018: 16.0 PERCENT) TARGETED FOR FISCAL YEAR 2020 WILL NOT BE ACHIEVED

* FY ADJUSTED EARNINGS AFTER TAXES FOR PERIOD AMOUNTED TO EUR 87.8 MILLION, DOWN 23.5% ON PREVIOUS YEAR (2018: EUR 114.8 MILLION)

* DOES NOT EXPECT TO ACHIEVE ITS ORIGINAL FORECAST OF AROUND -2 TO AROUND -4 PERCENT IN TERMS OF ORGANIC GROUP SALES DEVELOPMENT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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