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1. Company Snapshot

1.a. Company Description

NORMA Group SE, together with its subsidiaries, manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.The company provides quick connectors, hose clamps, retaining clamps, and pipe couplings.The company sells its products to distributors, original equipment manufacturer aftermarket customers, technical wholesalers, and hardware stores under the ABA, Breeze, Clamp-All, CONNECTORS, FISH, Gemi, Kimplas, NDS, NORMA, Raindrip, R.G.RAY, Serflex, TORCA, and TRUSTLENE brand names through its distribution network, sales representatives, retailers, and importers.


The company also provides water management, emobility thermal management, and commercial and passenger vehicles solutions.NORMA Group SE was founded in 1896 and is headquartered in Maintal, Germany.

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1.b. Last Insights on NOEJ

NORMA Group SE's recent performance was negatively impacted by its divestment of the Water Management unit, leading to a 7.9% decline in share value. The company's revised 2025 sales outlook, lowered to €810-830 million from €1.1-1.2 billion, reflects the significant impact of this divestment. Additionally, NORMA Group remains unprofitable, with losses increasing at a rate of 27.1% per year over the past five years. Its revenue growth forecast of 4.6% annually trails the wider German market's expected 6.1% per year.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Calculating The Intrinsic Value Of NORMA Group SE (ETR:NOEJ)

Nov -27

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NORMA Group (XTRA:NOEJ): Five-Year Loss Rate Highlights Financial Risks as Earnings Forecast Soars 113%

Nov -05

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Why NORMA Group (XTRA:NOEJ) Is Down 7.9% After Cutting 2025 Sales Outlook Post-Divestment

Sep -24

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Why Advanced Drainage (WMS) Stock Is Trading Up Today

Sep -23

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Advanced Drainage Systems Strikes $1 Billion Deal to Buy Norma's Water Management Business

Sep -23

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Advanced Drainage Systems Announces Acquisition of National Diversified Sales, a Subsidiary of Norma Group Se

Sep -23

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Stormwater Giant Eyes $1 Billion European Play in Bold M&A Power Move

Sep -18

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NORMA Group Second Quarter 2025 Earnings: EPS Beats Expectations

Aug -17

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.16%)

6. Segments

Engineered Joining Technology (EJT)

Expected Growth: 5%

EJT's 5% growth driven by increasing adoption of lightweight materials in automotive, rising demand for electric vehicles, and growing need for fuel efficiency. Additionally, expanding presence in emerging markets, innovative product offerings, and strategic partnerships contribute to growth.

Standardized Joining Technology (SJT)

Expected Growth: 3%

SJT's 3% growth is driven by increasing adoption in electric vehicles, rising demand for lightweighting solutions, and growing need for efficient battery-electric architectures. Additionally, OEMs' focus on reducing emissions and improving fuel efficiency, as well as NORMA Group's expanding presence in Asia, contribute to SJT's growth momentum.

Other

Expected Growth: 2%

NORMA Group SE's 'Other' segment growth is driven by increasing demand for customized joining technology solutions, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on innovation, operational efficiency, and cost savings initiatives contribute to its growth momentum.

7. Detailed Products

CLIC Clamp

A high-quality, compact, and lightweight clamp for various industrial applications

CT Clamp

A high-torque, compact, and lightweight clamp for high-pressure applications

Quick Connector

A quick and easy-to-use connector for hydraulic and pneumatic systems

Adaptor

A versatile and customizable adaptor for connecting different types of hoses and tubes

Tube Fitting

A high-quality, corrosion-resistant tube fitting for industrial and hydraulic applications

Hose Fitting

A high-quality, corrosion-resistant hose fitting for industrial and hydraulic applications

8. NORMA Group SE's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for NORMA Group SE is moderate due to the presence of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers in the market, but the company's large scale of operations gives it some negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established competitors in the market, leading to a highly competitive environment.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 41.72%
Debt Cost 8.72%
Equity Weight 58.28%
Equity Cost 12.17%
WACC 10.73%
Leverage 71.58%

11. Quality Control: NORMA Group SE passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
NCC

A-Score: 6.3/10

Value: 6.5

Growth: 5.4

Quality: 4.6

Yield: 7.5

Momentum: 8.0

Volatility: 6.0

1-Year Total Return ->

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Mennica Polska

A-Score: 6.1/10

Value: 4.7

Growth: 5.2

Quality: 6.2

Yield: 6.2

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
STEF

A-Score: 5.4/10

Value: 6.5

Growth: 5.8

Quality: 2.4

Yield: 6.9

Momentum: 3.0

Volatility: 8.0

1-Year Total Return ->

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RHI Magnesita

A-Score: 4.4/10

Value: 7.0

Growth: 5.8

Quality: 2.5

Yield: 8.8

Momentum: 0.5

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
NORMA

A-Score: 3.9/10

Value: 6.9

Growth: 3.1

Quality: 3.2

Yield: 3.8

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Sif Holding

A-Score: 3.1/10

Value: 9.4

Growth: 2.8

Quality: 1.8

Yield: 0.6

Momentum: 0.0

Volatility: 4.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

14.0$

Current Price

14$

Potential

-0.00%

Expected Cash-Flows