NORMA GROUP achieved stable profitability and strong cash flow in 2023 despite lower sales due to currency translation.

Sales, including fasteners, declined 1.6% to EUR 1.22 billion (US$1.31 billion) during the year, which included 0.7% organic growth. Adjusted EBIT slipped 1.5% to EUR 97.5 million.

Fourth-quarter sales declined 5.1% to EUR 286.7 million partly due to a temporary reduction in order call-offs in the U.S. following widespread strikes at vehicle manufacturers. Adjusted EBIT grew 19.4% to EUR 23 million. Web:

NORMA Group was formed in 2006 from the merger of Rasmussen GmbH of Germany, founded in 1949, and ABA Group of Sweden, founded in 1896. Maintal, Germany-based NORMA reports 8,900 employees in 100+ countries and 27 plants.

NORMA has 11 U.S. facilities, which are headquartered in Auburn Hills, MI. Web: NormaGroup.com