May 09, 2023 / 12:00PM GMT
Miguel Angel Lopez Borrego - NORMA Group SE - Chairman of the Management Board & Interim CEO
Thank you very much, operator, and welcome to all of you to NORMA Group's Q1 2023 Results. Together with my colleague, Annette Stieve, I will lead you briefly through the facts and figures of the First Quarter 2023, followed by a more detailed introduction to our company program, Step Up.
Starting on Page 2, you will see that NORMA had an organic growth of 2.1% on the same level as in the previous year with an adjusted EBIT margin of 7.2%. Net operating cash flow came in at minus EUR 45 million with a healthy equity ratio in the balance sheet of 46%. Net debt stands at EUR 414.3 million, and the dividend proposal at the Annual Shareholder Meeting of EUR 0.55 will be presented to the shareholders on Thursday this week.
Looking now into more details, please find the top line development on Page 3. The already mentioned organic growth of 2.1% splits in, one, positive pricing of 5.9%, and two, a volume decline of 3.7% in the first quarter 2023.
We had a mixed picture in terms of
Q1 2023 Norma Group SE Earnings Call Transcript
Mar 06, 2024
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