Business, Estonia, Markets and Companies

The profits formed 13% of the sales revenue. In the year 2008, net profits formed 10% of sales.

Norma’s unaudited operating profits in the fourth quarter amounted to 28 million kroons, the operating profit margin was 11% of the turnover. During the same period of time in 2008, the enterprise earned 25 million kroons in operating profits.

During the fourth quarter, Norma reported ad hoc revenue of 5.6 million kroons on account of decreasing the reserve to cover unlikely receivables.

Net turnover of sales in the fourth quarter generated by Norma amounted to 249 million kroons. The group’s sales had fallen by 21% in the year-on-year comparison.

Although the global cars producing market has stabilized, the Russian, Ukrainian and Belorussian car industries remain erratic. Norma’s end customers in the west – such as Volvo Cars, still suffer from low sales numbers.

In order to balance the risk involving Russia and Sweden, Norma will continue investing in producing European car components.