Maintal (dpa) - The Corona crisis and high renovation costs have bothered the connection technology specialist Norma.

Adjusted earnings before interest, taxes and goodwill amortization dropped by almost two thirds to 54.6 million euros in 2020 compared to the previous year, as the supplier announced on Wednesday in Maintal when it presented preliminary figures.

Despite the crisis, revenues did not fall as sharply as feared.

In the past fiscal year, sales fell by 13.4 percent to 952.2 million euros.

CEO Michael Schneider pointed out that business in the fourth quarter was better than expected, and that the auto business in particular recorded a recovery.

Initially, Norma did not provide any information on the surplus or forecast.

Schneider will comment on the outlook for the current new financial year 2021 when the full balance sheet is announced on March 24th.

Norma is in the middle of a comprehensive savings and renovation program.

After a loss-making first half of the year marked by the pandemic, the auto supplier returned to profitability in the third quarter.


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