Normet revenue increases dramatically4 October 2018
International – Normet posted a Q1 turnover that was 24% up on the previous year, and earnings before interest, tax, depreciation and amortisation (EBITDA) that were more that double Q1 2017. Normet increased its outlook for the remainder of the year, which remains to be seen.
Profitability improved in all business lines. Normet Equipment and Services businesses achieved strong growth while Ground Control and Construction Technology (GCCT) grew modestly compared to first half of 2017.
The turnover forecast for year 2018 has been adjusted to EUR 300-310M from EUR 290-310M due to the increased market demand and strong first half of 2018. EBITDA level is forecasted to be 12-14% of sales versus previously forecasted 10-12%.
“The market remains positive and the second half of 2018 look stronger than the first,” said Robin Lindahl, Normet Group CEO.