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DGAP-News: KROMI Logistik AG publishes 2010/2011 results

KROMI Logistik AG / Key word(s): Final Results/Forecast
21.09.2011 / 08:00

- 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@cometis.de

End of Corporate News

21.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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@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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Investor Relations

cometis AG
Claudius Krause
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66
E-mail: krause(at)cometis.de


KROMI Logistik AG
Tarpenring 11
D-22419 Hamburg
Tel.: +49 (0)40-537151-0
Fax: +49 (0)40-537151-99
E-mail: info(at)kromi.de