Added to YB: 2025-03-07
Pitch date: 2025-03-06
NOEJ.DE [bullish]
NORMA Group SE
+10.7%
current return
Author Info
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Company Info
NORMA Group SE, together with its subsidiaries, manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.
Market Cap
EUR 527.0M
Pitch Price
EUR 16.02
Price Target
N/A
Dividend
N/A
EV/EBITDA
-53.54
P/E
-6.44
EV/Sales
1.01
Sector
Machinery
Category
turnaround
An Industrial Diamond Hidden in Automotive Rubble
NOEJ.DE: German industrial connector supplier w/ 50% gross margins & strong brands selling Water Management unit for est. €600-900M (vs €850M EV) - proceeds cover debt & fund industrial pivot. Automotive margins 3-5% → 10%+ target, industrial at 15-20%. Teleios Capital owns 20%, pushing turnaround. Trading 9x EV/EBIT vs peers at mid-teens. Base case: 10% IRR, 2-3x upside; bull case: 16% IRR, 3-5x upside.
Read full article (18 min)