DGAP-News: KROMI Logistik AG publishes 2010/2011 results
(firmenpresse) - DGAP-News: KROMI Logistik AG / Key word(s): Final Results/Forecast
KROMI Logistik AG publishes 2010/2011 results
21.09.2011 / 08:00
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- Revenue up 22.5 % to EUR 38,213 thousand
- EBIT falls to EUR -1,054 thousand due to extensive investments
- Continuation of expansion strategy and targeted further revenue growth
accompanied by positive result for 2011/2012 fiscal year
Hamburg, September 21, 2011 - KROMI Logistik AG, the provider of end-to-end
tool logistics solutions for manufacturing companies, has today published
its complete report for the 2010/2011 fiscal year (as of June 30). The
company achieved revenue growth of 22.5 % to EUR 38,213 thousand during the
reporting period. KROMI Logistik has again proved the strength of its
growth as a consequence. Along with the successful development of new
customer business, the revenue expansion was also attributable to the onset
of dynamic growth with the company's existing customers. The mechanical
engineering and automotive supply sectors achieved the highest growth rates
in this context. In terms of operating earnings, the Group reported a
decline from EUR 175 thousand to EUR -1,054 thousand. This was particularly
due to the expansion path that the company has been pursuing, which
especially entailed investments in new customers, markets and employees -
thereby reinforcing the company's foundation for future growth.
KROMI Logistik AG's consolidated revenue increased to EUR 38,213 thousand
in the 2010/2011 fiscal year, compared with EUR 31,198 thousand in the
previous year. Higher demand for precision tools is attributable to the
economic upturn that has now impacted KROMI's customers, particularly
during the fourth quarter. Growth in the operating business also fed
through to a higher level in the cost of materials, which increased from
EUR 22,351 thousand to EUR 28,721 thousand. At the same time, the cost of
materials ratio rose to 75.2 %, compared with 71.6 % in the prior-year
period. Group growth was also accompanied by a higher level of employee
numbers, which pushed personnel expenses up to EUR 6,041 thousand, compared
with EUR 5,058 thousand. Earnings before interest and tax (EBIT) for
2010/2011 amounted to EUR -1,054 thousand, compared with EUR 175 thousand
in the previous year. KROMI reported earnings before tax (EBT) of EUR
-1,074 thousand, following EUR 182 thousand in the prior year. As a
consequence, the total consolidated after-tax loss amounted to EUR -1,068
thousand (previous year: EUR 56 thousand).
'KROMI Logistik looks back on a 2010/2011 fiscal year that was
characterised by strong growth: although the first half of the year was
tangibly affected by the consequences of the crisis, our business underwent
significant growth, particularly in the fourth quarter. The strong revenue
growth that we achieved in this connection reinforces our assumption that
the expansion strategy that we have embarked upon - our investments in new
customers and markets - was a correct decision,' was how Jörg Schubert, CEO
of KROMI Logistik AG, commented on the business trends. 'Besides this, we
will concentrate in the future to a greater extent on expanding solutions
that we have already implemented for existing customers to these customers'
branches abroad, thereby further developing our customer base towards
larger multinational groups,' Schubert went on to add.
The Group's growing internationalisation also continues to bear fruit. Over
the past fiscal year, the company has made more investments in its
Brazilian subsidiary, which has won several new customers. In overall
terms, internationalisation is placing the Group on an even broader footing
for the long-term.
Besides the economy and, with it, production levels at existing KROMI
customers, the decisive factor for earnings trends will also be the speed
with which supply systems can be implemented gradually for new customers.
Despite the current uncertain situation on financial markets, KROMI
Logistik expects the growth dynamic to continue for the 2011/2012 fiscal
year that has already started successfully: 'Although the current
fluctuations on capital markets and the strained debt situation of some
countries could slow macroeconomic growth, we are tending to assume that,
as a late-cycle company, we can even exceed the revenue growth of around
22 % that we achieved in the reporting period. We also gauge that the
outsourcing trends in our target sectors, which are growing in overall
terms, will exert a positive impact on our future business development,'
was how CFO Uwe Pfeiffer outlined the outlook for the company's future
growth. 'Should the economic situation stabilise at the current level, we
also regard a positive EBIT result in the low single-digit percentage range
as realisable, and consequently a return to profitability,' Pfeiffer
concluded.
Over the course of the day, KROMI Logistik AG will make its full IFRS
consolidated financial statements for the 2010/2011 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
the supply of precision tools (tool management) that is independent of a
specific manufacturer, and it focuses on machining tools for metalworking
and plastics. The company combines classical tool trading with a peripheral
tool supply that includes output machines in the customer's production area
and an IT-based tool management and controlling system. The objective of
KROMI's business operations is to effectively optimise the supply of tools
for its clients and to secure the availability of the appropriate tools at
the right time and at the right place. The company is already present at
five locations in Germany and four abroad (Slovakia, Czech Republic, Brazil
and Spain), and is active in five other European countries. To date, KROMI
is primarily focusing on customers in the engineering, shipbuilding and
aerospace sectors as well as automotive suppliers.
On the Internet at www.kromi.de
Contact Investor Relations:
cometis AG
Henryk Deter / Dominic Großmann
Phone: +49 (0)611-205855-15
Fax: +49 (0)611-205855-66
E-mail: grossmann(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: A0KFUJListed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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