DGAP-News: KROMI Logistik AG reports significant revenue growth in first six months of FY 2012/2013
(firmenpresse) - DGAP-News: KROMI Logistik AG / Key word(s): Half Year Results
KROMI Logistik AG reports significant revenue growth in first six
months of FY 2012/2013
12.02.2013 / 08:00
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- Revenue up 13.7% to EUR 27,589 thousand
- Moderate trend in Southern Europe and extraordinary effects in Brazil
burden earnings (EBIT: EUR 68 thousand)
- Revenue and earnings growth remain within internal budgets
- Forecast for FY 2012/2013 confirmed
Hamburg, February 12, 2013 - KROMI Logistik AG, a provider of end-to-end
tools logistics solutions for manufacturing companies, reports further
revenue growth in the first six months of its 2012/2013 fiscal year. This
announcement is based on its half-yearly report (as of December 31) which
was published today. The company reports revenue up by 13.7% to EUR 27,589
thousand (previous year: EUR 24,258 thousand), exceeding the growth
achieved in the previous quarter. This revenue growth was generated
especially in Germany, and at the Brazilian subsidiary. Double-digit
percentage growth rates were registered in these regions. Especially in
Southern Europe, revenue and earnings contributions were below those in
previous quarters due to continued economic uncertainties, by contrast. A
detailed action plan to improve profitability in these regions is currently
being implemented.
The rate of increase of the cost of materials was in line with revenue
growth, rising from EUR 17,842 thousand to EUR 20,696 thousand, with the
cost of materials ratio registering a year-on-year increase from 73.6% to
75.0%. 'One reason for this increase is a major new customer in Brazil,
where only low margins are being generated during the pilot phase. In
addition, one-off corrections to inventories, which were necessitated as
part of an SAP software relaunch in Brazil, contributed to the increase in
the cost of materials there,' noted Uwe Pfeiffer, CFO of KROMI Logistik AG.
Despite these extraordinary items, the Group reported a further slight
reduction in the cost of materials ratio compared with the first quarter of
2012/2013 (75.2%).
Due to the relatively higher expenses, and the strained earnings situation
in Southern Europe and Brazil, the company reported earnings before
interest and tax (EBIT) of EUR 68 thousand, compared with EUR 546 thousand
in the prior-year period. Operating profit would have stood at EUR 247
thousand when adjusted for unrealised currency translation losses (EUR 179
thousand). The Group reported a consolidated net loss of EUR -218 thousand
after taking into account finance costs, other income, and EUR 144 thousand
of taxes on income to be paid. The company was reporting a profit of EUR
296 thousand in the comparable period of the previous year.
'We reported further revenue growth in the first six months of our current
fiscal year. We are benefiting especially from continued, very robust
market growth in Germany, and at our Brazilian subsidiary. By contrast,
revenue and earnings trends are moderate on Southern European markets. A
detailed action plan to improve profitability in these regions is currently
being implemented. France on the other hand represents a special case.
Since we are not convinced that we can achieve a sustainable turnaround
there, we have discontinued our business activities on this market, and
have wound up the existing organisation,' was how Jörg Schubert, CEO of
KROMI Logistik AG, commented on this current development within the Group.
He went on to add: 'In terms of revenue and earnings from the operating
business, we nevertheless remain within the scope of our internal
planning.'
As a consequence, the Managing Board continues to assume that in the
2012/2013 fiscal year it will again achieve significant sales revenue
growth in the double-digit percentage range. 'Assuming the economic
situation remains stable, we are aiming to report a further increase in our
EBIT margin in the current fiscal year as part of our gradual, profitable
growth strategy. The EBIT margin will prospectively remain within the lower
single-digit percentage range in the current fiscal year,' noted Jörg
Schubert, thereby reiterating the forecast for the current 2012/2013 fiscal
year which has already been published.
Over the course of the day, KROMI Logistik AG will make its full report for
the first half of the 2012/2013 fiscal year available for downloading on
its website at www.kromi.de within the Investor Relations area.
Company profile:
KROMI Logistik AG offers manufacturing companies end-to-end outsourcing for
their supply of precision machining tools, both in Germany and abroad. The
company focuses on technically advanced machining tools for metalworking
(consumable and cutting tools, e.g. drills). KROMI combines conventional
tool retailing with a decentralised tool supply system that includes output
machines in the customer's production area and an IT-based tool management
and controlling system. KROMI's aim is to sustainably optimise the supply
of resources (particularly tools) for its customers and to secure the
availability of the appropriate resources at the right time and in the
right place. The company is currently represented at five locations in
Germany and four abroad (Slovakia, Czech Republic, Brazil and Spain), and
is active in four other European countries. To date, KROMI has primarily
focused on customers in the machine engineering, automotive suppliers and
aerospace sectors as well as marine engine construction.
Visit us online at: www.kromi.de
Investor relations contact:
cometis AG
Henryk Deter / Janis Fischer
Tel.: +49 (0)611-205855-64
Fax: +49 (0)611-205855-66
E-mail: fischer(at)cometis.de
End of Corporate News
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Language: English
Company: KROMI Logistik AG
Tarpenring 11
22419 Hamburg
Germany
Phone: 040/537151-0
Fax: 040/537151-99
E-mail: info(at)kromi.de
Internet: www.kromi.de
ISIN: DE000A0KFUJ5
WKN: A0KFUJ
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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201172 12.02.2013
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