Normet has posted a very strong fiscal year for 2018. Turnover grew by 21% to €315M and earnings before depreciations and amortizations (EBITDA) reached €38M almost double that of 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.