DGAP-News: KROMI Logistik AG publishes FY 2013/2014 Q1 report
(firmenpresse) - DGAP-News: KROMI Logistik AG / Key word(s): Quarter Results
KROMI Logistik AG publishes FY 2013/2014 Q1 report
07.11.2013 / 07:59
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KROMI Logistik AG publishes FY 2013/2014 Q1 report
- Revenue grows 8.4 % to EUR 14,535 thousand (previous year: EUR 13,409
thousand)
- EBIT of EUR -96 thousand at previous year's level (EUR -103 thousand)
- Further moderate revenue growth accompanied by gradual increase in EBIT
margin targeted for current FY 2013/2014
Hamburg, November 7, 2013 - KROMI Logistik AG, a provider of end-to-end
tools logistics solutions for manufacturing companies, reports further
revenue growth in the first quarter of its 2013/2014 fiscal year (July 1 to
September 30, 2013). The company generated 8.4 % revenue growth to EUR
14,535 thousand (previous year: EUR 13,409 thousand) despite traditionally
lower demand during the July and August holiday months. This is pleasing
insofar as, along with the stable situation on the company's domestic
German market, revenue with customers in European countries outside
Germany, and especially with those located in Brazil, registered
significant growth. The earnings before interest and tax (EBIT) of EUR -96
thousand was approximately at the previous year's level (EUR -103 thousand)
due to a (from a current perspective) weaker margin situation.
KROMI benefited in its business development from a well-balanced customer
structure that is diversified across several sectors and regions. Along
with the stable situation within the German customer base, Brazil and
European countries, in particular, contributed to revenue growth during the
first three months of the 2013/2014 financial year. 'Our Brazilian
subsidiary achieved remarkable revenue growth of around 37 % - this
increase was even more significant at around 64 % when expressed in
Brazilian reals. This expansion supported our positive Group growth, and
the subsidiary consequently remains clearly on its growth course,' is how
Jörg Schubert, CEO of KROMI Logistik AG, assesses the development of this
Group subsidiary.
The rate of increase of the cost of materials slightly exceeded that of
revenue growth, rising from EUR 10,089 thousand to EUR 11,168 thousand,
with the cost of materials ratio registering a year-on-year increase from
75.2 % to 76.8 %. The increase in this ratio is attributable to somewhat
random consumption of low-margin products during the period under review.
KROMI CFO Uwe Pfeiffer explained as follows: 'Our experience shows that
this intra-year effect evens out over the course of a full fiscal year, and
previous years show that quarters that are more impacted by seasonal
fluctuations and effects relating to reporting dates can be drawn upon to
only a limited extent to gauge our overall performance.'
The staff cost fell slightly from EUR 1,873 thousand to EUR 1,866 thousand,
with the staff cost ratio being further reduced to 12.8 % (previous year:
14.0 %). 'This change shows that, compared with the prior-year period,
additional new customers can also be served efficiently with almost
constant staff cover,' is how Uwe Pfeiffer appraised these figures.
The faster rise in expenses compared to revenues fed through to a loss at
the EBIT level of EUR -96 thousand (previous year: EUR -103 thousand). Pure
operating earnings adjusted for unrealised valuation losses on currency
differences amounted to EUR 63 thousand, reflecting marked growth compared
with the previous year's result (EUR 27 thousand). At the bottom line,
KROMI Logistik reported consolidated net earnings of EUR -199 thousand
(previous year: EUR -165 thousand).
'We look back with satisfaction on the first quarter of our 2013/2014
fiscal year. Along with our stable European business, the growth at our
Brazilian subsidiary was particularly pleasing. We are also convinced that
our achievable margins will rise gradually over the further course of the
year, allowing us to continuously boost our profitability,' commented Jörg
Schubert. As a consequence, the Managing Board is confirming its forecast
of realising revenue growth in the single-digit percentage range on a
full-year view. KROMI is also aiming for further EBIT growth, given stable
economic trends.'As a consequence, the EBIT margin will prospectively
remain within the lower to mid single-digit percentage range,' Schubert
added by way of conclusion.
Over the course of the day, KROMI Logistik AG will make its full report for
the first quarter of the 2013/2014 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 four locations in
Germany and four abroad (Slovakia, Czech Republic, Brazil and Spain), and
is active in five 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
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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