NORMA Group SE (STU:NOEJ)

Q2 2026 Norma Group SE Earnings Call Transcript

Aug 11, 2026 / 12:00 PM GMT

Release Date Price: €18.88 (+0.11%)

Transcript

Key Points

Positve

Adjusted EBIT margin improved significantly to 3.6% in Q2 2026, up 2.5 percentage points year-over-year, driven by strong cost discipline and transformation benefits.
The company achieved a positive net cash position of approximately €304 million as of June 30, 2026, with pro forma net cash including short-term deposits reaching €361 million.
Secured major new orders, including the largest project in company history in the mobility business (€157 million lifetime volume) and strong order intake in industrial applications across APAC.
Industrial applications business grew 8.4% on a comparable FX basis in Q2, outperforming the softer mobility segment and benefiting from infrastructure markets like data centers and sustainable energy.
Transformation program is on track, delivering €6.1 million in measurable benefits in H1 2026, with a full-year target of €15 million, and the voluntary labor program in Germany completed as expected.

Negative

Net sales remained broadly flat, with group sales declining 0.6% year-over-year on a reported basis and only slightly positive on a comparable FX basis, reflecting continued market headwinds.
Mobility and new energy sales declined 4% year-over-year in Q2, impacted by softer automotive demand, particularly in Europe and APAC.
Net operating cash flow for H1 2026 was negative at -€13.1 million, impacted by the water management divestment and supply chain financing programs.
Full-year guidance implies a weaker H2 margin compared to H1, with management expecting to land at the midpoint or below for net sales and EBIT margin, despite transformation benefits.
The company faces ongoing challenges from European OEM capacity cuts and Chinese OEM competition, requiring continued restructuring and strategic adjustments.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NOEJ.DE - NORMA Group SE
Q2 2026 Norma Group SE Earnings Call
Aug 11, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, good afternoon, everyone.

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Unidentified_2 [2]
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Good afternoon, ladies and gentlemen.

Thank you for your patience. Welcome to the Norma Group Q2 2026 results webcast and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press *1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To ensure that the session runs as smoothly as possible and is easy

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