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DGAP-News: KROMI Logistik AG publishes 3-month report 2014/2015

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

19.11.2014 / 08:02

KROMI Logistik AG publishes 3-month report 2014/2015

- Revenue registers slight growth to EUR 14,655 thousand (previous year: EUR 14,535 thousand)

- EBIT result of EUR -114 thousand slightly below previous year's level (EUR -96 thousand)

- Outlook confirmed - Target: further revenue growth in upper single-digit percentage range and gradual rise in operating result (EBIT) for current FY 2014/2015

Hamburg, November 19, 2014 - KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, generated revenue during the first three months of its 2014/2015 fiscal year (July 1 to September 30, 2014) that was slightly ahead of the level of the prior-year period. The Group lifted its revenue to EUR 14,655 thousand (previous year: EUR 14,535 thousand), reflecting slight growth of 0.8 %. This gain is gratifying given that, especially during the August holiday period, customers' production levels, and consequently also demand for KROMI services, tend to be more modest. The result before interest and tax (EBIT) of EUR -114 thousand was slightly below the previous year's EUR -96 thousand.

"Our well-balanced customer structure - which is diversified across several sectors and markets both in Germany and abroad - ensured that our revenues during the first three months of our 2014/2015 fiscal year were not only held stable compared with the previous year, but also advanced slightly," notes Jörg Schubert, KROMI Logistik's CEO.

Despite the minor revenue growth, the cost of materials was reduced slightly from EUR 11,168 thousand to EUR 11,134 thousand. The cost of materials ratio fell from 76.8 % to 76.0 %. In line with this development, the gross profit margin was boosted to 24.0 %, compared with 23.2 % in the previous-year period. This performance indicator was also increased compared with the full 2013/2014 fiscal year, when the gross profit margin amounted to 23.8 %.

Staff costs reported a significant increase from EUR 1,866 thousand to EUR 2,166 thousand, with the staff cost ratio advancing to 14.8 % accordingly (previous year: 12.8 %). "This trend reflects new hires for customers that are still in the preparatory or start-up phase of supplies, and consequently necessitate a higher level of our staff time and costs," as Uwe Pfeiffer, CFO at KROMI Logistik, explains this expense development.

This considerable rise in staff costs fed through to a loss at the EBIT level of EUR 114 thousand (previous year: EUR -96 thousand). When adjusted for expenses arising from unrealised valuation losses on foreign currency exchange rate differences, pure operating earnings stood at EUR 11 thousand (previous year: EUR 63 thousand). At the bottom line, KROMI Logistik reported a consolidated net loss of EUR -197 thousand (previous year: EUR -199 thousand).

"We look back with satisfaction on the first three months of our 2014/2015 fiscal year. We held both revenue and EBIT at almost the previous year's level, and are particularly pleased with the rise in the gross profit margin to 24 %. This key indicator reflects the intrinsic value and stability of our business model. We are convinced that we can achieve gradual revenue growth in combination with rising profitability," comments Schubert. In this connection, the Managing Board is confirming its forecast of realising revenue growth in the upper single-digit percentage range on a full-year view. KROMI Logistik is also aiming for further EBIT growth, given stable economic trends.

Over the course of the day, KROMI Logistik AG will make its full (IFRS) report for the first three months of its 2014/2015 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 Blaum
Phone: +49 (0)611-205855-64
Fax: +49 (0)611-205855-66
E-mail: blaum@cometis.de


19.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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297898  19.11.2014


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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