NORMA Group SE (NOEJ.DE), a German manufacturer of machine joining components, Tuesday reported lower profit in the second quarter, impacted by low demand in the European automotive industry. Sales also declined from the year-ago quarter. The company reiterated its outlook for the year ahead.
The company reported second-quarter profit of 5.2 million euros or 0.16 euro per share, down from 6.5 million euros or 0.20 euro per share in the same period last year. Adjusted profit for the period was 10.6 million euros or 0.33 euro per share, compared to 10.7 million euros or 0.34 euro per share a year ago.
During the three-month period, group sales declined 5.2 percent to 290.4 million euros from 306.3 million euros in the second quarter of 2024, impacted by currency effects and lower demand.
According to the company, adjusted EBIT for the period was 23.4 million euros, down 10.4 percent from last year's 26.1 million euros. Adjusted EBIT margin fell to 8.1 percent from 8.5 percent in the prior-year quarter.
Looking ahead, the company reaffirmed its full-year 2025 outlook of group sales of around 1.1 billion euros to around 1.2 billion euros. Additionally, the company expects an adjusted EBIT margin of around 6 percent to around 8 percent.
On the Frankfurt Stock Exchange, the stock ended Monday's trading down 6 percent at 15.86 euros.
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