Normet posts a strong year of growth and profitability improvement
Normet posted a very strong fiscal year 2018. Turnover grew by 21% to 315 Million Euro and earnings before depreciations and amortizations (EBITDA) reached 38 Million Euros almost doubling from 2017.
Normet Equipment and Services businesses achieved strong growth but Ground Control and Construction Technology (GCCT) declined modestly compared to 2017. Profitability improved in all business lines.
The turnover forecast for year 2019 is estimated to be at last years level or slightly better. EBITDA level is forecasted to be at 2018 level ie. 12-14%.
“The outlook for year 2019 is still positive, although the market growth is slowing down. We are in the process of scanning new growth areas to secure our renewal and future growth. Our aim is to identify and launch 2-4 of these growth initiatives during this year”, summarizes Aaro Cantell, interim CEO Normet Group.
Chairman and CEO, Normet Group
Tel. +358 400 706072
Normet is an innovative, fast growing technology company. We are underground experts driven by continuous improvement and care for environment. We offer complete technical solutions increasing our customers’ profitability through improved safety, cost savings and shortened process cycle. Normet has a broad offering for underground mining and tunnelling: equipment, construction chemicals, rock reinforcement products and services. Normet currently employs over 1200 business professionals and the net sales in 2018 was over 315 million Euro. Normet is a Finnish company operating globally with over 50 locations in 30 countries. For more information, visit www.normet.com.