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DGAP-News: KROMI Logistik AG reports significant revenue and earnings growth in first nine months of FY 2011/2012

KROMI Logistik AG / Key word(s): Quarter Results

09.05.2012 / 08:01

- Revenue up by around 46% to EUR 38,768 thousand
- Further EBIT growth to currently EUR 770 thousand - Managing Board confirms revenue and earnings forecast
Hamburg, May 9, 2012 - KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, reports significant revenue growth in the first nine months of its 2011/2012 fiscal year (as of June 30). Between July 1, 2011, and March 31, 2012, the company generated EUR 38,768 thousand of revenue compared with EUR 26,612 thousand in the corresponding prior-year period. With this approximately 46% growth, the Group continues to consistently pursue the growth path it has charted over previous quarters. KROMI Logistik benefited, firstly, from its existing customers' continued high production levels. Secondly, both new customers and international business made a notable contribution to the marked revenue growth. KROMI Logistik also reports tangible growth in earnings before interest and tax (EBIT) in line with the successful progress of its business. Here, the Group generated a profit of EUR 770 thousand, compared with a loss of EUR -594 thousand in the same period of the previous year. The Managing Board confirms its forecast due to the successes realised to date.

In line with growth in business with existing customers, and the advancing implementation of the KROMI supply concept at new customers, the costs of materials also increased from EUR 19,614 thousand to EUR 29,098 thousand. The cost of materials ratio rose from 73.7% to 75.1%. Due to new staff hires over the course of the year, personnel expenses were up from EUR 4,185 thousand to EUR 5,201 thousand. The personal expense ratio fell from 15.7% to 13.4%, by contrast. In overall terms, this fed through to significantly positive EBIT of EUR 770 thousand (previous year: EUR -594 thousand). Despite a renewed increase in expenditure to expand the operating business, KROMI Logistik has consequently laid the foundation for substantial future earnings. When taking into account interest expenses, other income, and taxes to be paid, the Group reported consolidated net income of EUR 350 thousand, compared with a consolidated net loss of EUR -587 thousand in the comparable period of the previous year.

'The gratifying growth of our company over the last nine months proves that we remain well on our way to reach our growth targets. Our large customer base, and the scheduled progress of the introduction of KROMI tool management at new customers, continue to form the basis for this positive business trend,' commented Jörg Schubert, CEO of KROMI Logistik AG. 'We do not anticipate a sharp slowdown in the positive trend within our tool management business due to the order levels and production planning for the coming months that our customers have communicated to us,' Schubert went on to add. As a consequence, the Managing Board assumes that in the current 2011/2012 fiscal year it can comfortably exceed the approximately 22% revenue growth that it realised in the previous fiscal year. Despite the significant growth, and the related higher level of investments in the further expansion of the Group that are connected with this growth, KROMI Logistik continues to aim for a positive EBIT margin in the low single-digit percentage range for the full year.

Over the course of the day, KROMI Logistik AG will make its full report for the first nine months of the 2011/2012 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 and plastics (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 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
Henryk Deter / Janis Fischer
Tel.: +49 (0)611-205855-64
Fax: +49 (0)611-205855-66
E-mail: fischer@cometis.de

End of Corporate News

09.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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