Preliminary results for Q1, 2010


As was forecasted in AS Norma's announcement published on 1 March, the Group's
sales amounted to 16 million euros in the first quarter of this year. This
constitutes a 66% increase compared to the same period a year ago, and a 2%
decrease compared to the previous quarter. Due to enhanced productivity, cost
saving and decreased provision for doubtful receivables, the Group managed to
surpass profit's forecast and maintain operating profit margin at the same
level as in the previous quarter (11%). 

Good results in the first quarter were achieved primarily due to increased
production volumes of the Russian car manufacturers, who were preparing for a
government initiated supporting program “50 000-ruble incentive payment for
scrapping old car”, launched 8 March. 

Present results are unaudited and are not based on the reports approved by the
Management Board. Norma will publish the preliminary reports 26 April, 2010. 


Peep Siimon
Chairman of the Management Board
+372 650 0442