MAINTAL (dpa-AFX) - The fastening technology specialist Norma Group felt the effects of weeks of strikes at US vehicle manufacturers in the final quarter of 2023. According to preliminary figures, sales shrank by 1.6 percent to 1.22 billion euros for the year as a whole, as the SDax-listed company announced in Maintal on Tuesday. Adjusted for special effects, earnings before interest and taxes (EBIT) amounted to 97.5 million euros, 1.5 percent below the previous year's figure, while the corresponding margin remained stable at 8.0 percent. However, this was more operating profit than analysts had previously expected.

"I am confident that we will achieve further profitable growth in our three strategic business areas of Water Management, Industrial Applications and Mobility and New Energies in the future," said CEO Guido Grandi. With an efficiency and growth program, the Group has laid an important foundation here and achieved initial successes. Norma will present the detailed figures with the net result and the outlook for 2023 on March 26./mne/stk