DGAP-News: KROMI Logistik AG reports significant revenue growth in first nine months of FY 2012/2013
(firmenpresse) - DGAP-News: KROMI Logistik AG / Key word(s): Quarter Results
KROMI Logistik AG reports significant revenue growth in first nine
months of FY 2012/2013
14.05.2013 / 08:00
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- Revenue up 11.6 % to EUR 43,289 thousand
- Moderate trend in Southern Europe and extraordinary effects in Brazil
burden earnings (EBIT: EUR 636 thousand)
- Forecast for FY 2012/2013 confirmed
Hamburg, May 14, 2013 - KROMI Logistik AG, a provider of end-to-end tools
logistics solutions for manufacturing companies, reports further revenue
growth in the first nine months of its 2012/2013 fiscal year, as announced
in the 9-month report (as of March 31) which it published today. The
company reports revenue up by 11.6 % to EUR 43,289 thousand (previous year:
EUR 38,768 thousand). This revenue growth was generated especially in
Germany, and at the Brazilian subsidiary. Double-digit percentage growth
rates were achieved in these regions. By contrast, especially in Southern
Europe, revenue and earnings contributions were below those in previous
quarters due to continued economic uncertainties.
The rate of increase of the cost of materials slightly outstripped that of
revenue growth, rising from EUR 29,098 thousand to EUR 32,879 thousand,
with the cost of materials ratio registering a year-on-year increase from
75.1 % to 76.0 %. 'This increase is due, firstly, to generally lower
margins at internationally operating large-scale machining groups.
Secondly, the strained economic situation in Southern Europe is also
impacting the gross margins that can be achieved there,' notes Uwe
Pfeiffer, CFO of KROMI Logistik AG.
At the Brazilian subsidiary further revenue growth of around 24 % was
realised. Changes to Brazilian tax legislation and one-off extraordinary
items nevertheless fed through to lower gross profit margins. A supply
agreement was also cancelled as the result of the takeover of one customer.
Adjustments to internal planning and to the valuation of the equity
interest as reported in the company's single-entity financial statements
were applied as a response to these developments. 'We remain fully
convinced that we can successfully implement the KROMI business model on
the Brazilian market in the long term. The economy, the relevant market and
the sales experiences that we have made to date deliver proof of the major
potential that our Brazilian subsidiary enjoys,' commented Jörg Schubert,
CEO of KROMI Logistik AG.
Revenue generated with customers from Southern Europe, especially Spain and
Italy, as well as other European countries outside Germany, failed to
report the growth expected of them, by contrast. 'Here, uncertainties about
future economic trends made themselves felt, feeding through to
considerable delays in implementing the KROMI system at new customers, and
in delays to concluding planned contracts,' as Jörg Schubert went on to
note. A detailed action plan to improve profitability in European countries
outside Germany is currently being implemented.
Due to these developments, the overall lower level of achievable gross
profit and the higher investments, the company reported earnings before
interest and tax (EBIT) of EUR 636 thousand, compared with EUR 770 thousand
in the prior-year period. The Group reported a consolidated net profit of
EUR 96 thousand after taking into account higherinterest expenses, other
income, and taxes to be paid. The company was still reporting a profit of
EUR 350 thousand in the comparable period of 2011/2012.
The Managing Board continues to assume that in the 2012/2013 fiscal year it
will again achieve sales revenue growth in the double-digit percentage
range. 'Assuming the economic situation remains stable, we are also aiming
to report a further increase in our EBIT margin in the current fiscal year
as part of our gradual, profitable growth strategy,' comments 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 nine months 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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14.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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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210833 14.05.2013
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