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DGAP-News: KROMI Logistik AG publishes nine-month report for FY 2014/2015

KROMI Logistik AG / Key word(s): 9-month figures

2015-05-06 / 08:00

KROMI Logistik AG publishes nine-month report for FY 2014/2015

  • Revenue grows to EUR 46,688 thousand (previous year: EUR 45,407 thousand)
  • Pure operating earnings (excluding non-cash valuation losses) of EUR 770 thousand slightly below previous year (EUR 925 thousand)
  • Outlook confirmed: Targeted further revenue growth in upper single-digit percentage range, continuous EBIT growth expected

Hamburg, May 6, 2015 - KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, reports further revenue growth of 2.8 % during the first nine months of its 2014/2015 fiscal year. A total of EUR 46,688 thousand of revenue was generated between July 1, 2014 and March 31, 2015 (previous year: EUR 45,407 thousand). This positive trend was underpinned by the third quarter, which proved to be the strongest of the current fiscal year in terms of sales revenues. Despite high investments in new customers, the relocation of production facilities at existing customers, and the separation from one large customer, pure operating earnings reported only a slight decline to EUR 770 thousand (previous year: EUR 925 thousand).

"Our balanced customer structure, which is diversified across several sectors and markets, has catered for our overall good business trend over the past nine months. In March 2015, more than EUR 6,000 thousand was turned over within one month for the first time, reflecting the clear trend toward successively rising sales revenue figures," notes Jörg Schubert, CEO of KROMI Logistik.

The cost of materials increased at a slower rate than top-line growth, rising from EUR 34,599 thousand to EUR 35,324 thousand. Accordingly, the cost of materials ratio also reported improvement, amounting to 75.7 %, clearly below the previous year's 76.2 %. The gross profit margin rose from 23.8 % to 24.3 % correspondingly. This performance indicator increased further compared with the full 2013/2014 fiscal year, too, when the gross profit margin also amounted to 23.8 %. Staff costs rose year-on-year from EUR 5,929 thousand to EUR 6,748 thousand. The staff cost ratio stood at 14.5 %, compared with 13.1 % the previous year. The rise in staff costs was due to hiring of staff for customers which are in the preparatory or start-up phase of supply, and therefore do not yet make a significant contribution to sales revenue.

These trends are also reflected in EBIT operating earnings, which amounted to EUR 100 thousand during the first nine months of 2014/2015 (previous year: EUR 703 thousand). Uwe Pfeiffer, CFO of KROMI Logistik, comments as follows: "With various new customers that we have acquired in Europe and Brazil - often major multinational groups - increasingly complex organisational and decision-making structures play an important role. For this reason, the conclusion and start-up of new contracts partly falls considerably short of the deadlines that we set ourselves." The weakness of the Brazilian real in relation to the euro also burdened EBIT. Unrealised measurement losses amounted to EUR 670 thousand (previous year: EUR 222 thousand). When adjusted for these unrealised currency differences, pure operating earnings stood at EUR 770 thousand (previous year: EUR 925 thousand), reflecting further growth compared with the first half of 2014/2015 (EUR 457 thousand).

"We look back on a first nine months of 2014/2015 that were challenging, but satisfactory overall, during which we reported growth in both sales revenue and our gross profit margin. These key indicators reflect the intrinsic value and stability of our business model. We are convinced that we can continue to achieve successive revenue growth in combination with rising profitability," Jörg Schubert comments. 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. This nevertheless depends on a strong fourth quarter. KROMI Logistik is also aiming for EBIT growth, assuming a stable economic trend and a rapid start to supplies to new customers.

Over the course of the day, KROMI Logistik will make its full (IFRS) report for the first nine 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 Logistik 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 Logistik'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 six other European countries. To date, KROMI Logistik 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

2015-05-06 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.

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353407  2015-05-06 


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Investor Relations

cometis AG
Claudius Krause
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KROMI Logistik AG
Tarpenring 11
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E-mail: info(at)kromi.de