Norma Group rises in early trade on Q2 profitability beat

Norma SE

08/08/2023 07:17

** Shares in Norma Group  NOEJ.DE  are up 3% in early trade
after the automotive and industrial supplier reported Q2 results
and confirmed FY guidance
    ** The company posted Q2 sales of EUR 324 mln (1.5% below
Refinitiv average estimates of EUR 329 mln) and adj EBIT of EUR
27.1 mln (5.2% above Refinitiv average estimates of EUR 25.7
mln), resulting in an adj EBIT margin of 8.4%
    ** "Margin beat despite slight sales miss should be good
enough for a bounce," a local trader says
    ** Norma Group is at the top of the German small-cap index
 .SDAXI 

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))