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Estonian Norma saw its profit fall by almost a half in 2013
BC, Tallinn, 16.07.2014.
Print version
Print versionEstonian car safety systems and seatbelt manufacturer Norma saw its profit fall in 2013 by 47% to 1.88 million euros, reveals the company's annual financial statement for 2013, LETA/Postimees Online reports.
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The last time Norma had such a small profit was during the last financial crisis during 2009.
The company's turnover fell by a fifth (21%) to 61 million euros. Also, the turnover was so small last in 2009.
After Autoliv bought out Norma's shares from small shareholders in 2010, the company has not paid dividends to the majority owner. When Norma was still listed at the stock exchange, it steadily paid dividends of 66 million kroons (4.2 million euros) or five euros (32 euro cents) per share.
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