FRANKFURT (dpa-AFX) - Partly better than expected business figures drove a recovery of the Norma share on Tuesday. The free cash inflow in particular was strong. Later in the morning, the stock gained 5.0 percent to 15.02 euros and even jumped to 15.37 euros at times. Nevertheless, it is still in an overarching downward trend from a technical perspective.

The shares have been more or less on a downward trend since March 2023. Since the most recent recovery attempt at the beginning of February 2024, there has been an almost uninterrupted downward trend towards the October 2022 low of EUR 14.06 reached in January.

The share is currently still down just over 6% for the new year 2024. Compared to the interim high of just under EUR 27 just over a year ago, the loss amounts to almost 44%.

The SDax fastening technology specialist has now surprised positively with its final quarter of 2023. Although the weeks of strikes at US vehicle manufacturers led to a decline in sales and adjusted operating earnings, analysts had feared worse.

Analysts Peter Rothenaicher from Baader Bank and Marc-Rene Tonn from Warburg Research praised the "strong" development of free cash flow in particular.

"However, the main focus will be on the further progress made as part of the 'Step Up' strategic program and the expected improvements in profitability," wrote Warburg expert Tonn. He recalled that Norma had only just been able to stabilize its margins last year. "The improvement in earnings in the fourth quarter is an encouraging sign in this respect, even if the continued difficult market environment could limit sales growth and the potential for margin expansion in 2024."/ck/bek/mis