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DGAP-News: KROMI Logistik AG publishes figures for the first half of fiscal year 2009/2010

KROMI Logistik AG / Half Year Results/Half Year Results
10.02.2010 08:01

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

- Revenues in H1 down 24.5% to EUR 15,261 thousand (previous year: EUR 20,216 thousand)
- EBIT after six months at EUR 311 thousand (previous year: EUR 938 thousand)
- Outlook for coming months remains sluggish 

Hamburg, February 10, 2010 - KROMI Logistik AG ('KROMI', German Securities Code (WKN) A0KFUJ, ISIN DE000A0KFUJ5) publishes its report on the first six months of fiscal year 2009/2010 (ending on June 30) today. The company's revenues in the first six months were down from EUR 20,216 thousand in the previous year by 24.5% to EUR 15,261 thousand. The positive earnings that the company recorded - both at an operating level and also after taxes - again confirmed the efficiency of the business model.
During the period under review, business growth was characterized by a continued very weak economy in the industry as a result of the continuing economic crisis. The key factor on KROMI's relevant markets was the fact that production in the engineering and automotive supply segments remained at a low level. The aerospace sector was stable compared to the other customer industries.

The downturn in the cost of materials from EUR 14,845 thousand to EUR 10,981 thousand is based on a lower level of merchandise purchased and warehouse management that has been further modified to customer requirements. As a result, the cost of materials ratio fell from 73.4% to 72.0%. Personnel costs within the group fell from EUR 2,776 thousand to EUR 2,443 thousand. EBIT totaled EUR 311 thousand, compared to EUR 938 thousand in the same period of the previous year. EBT totaled EUR 320 thousand. This figure amounted to EUR 1,039 thousand one year previously. After taxes, KROMI recorded consolidated earnings of EUR 192 thousand in the first half of 2009/2010 compared to EUR 705 thousand in the same period of the previous year.

'We are pleased with our business growth in view of the continuing very low level of production in our customers' industries. We have been able to record positive earnings despite the lower revenues in the first half of the year compared to the same period of last year - and that's a great success,' commented CFO Uwe Pfeiffer on the figures.  
The company is sticking to its outlook for 2009/2010 as a whole which it published on September 24, 2009. Although economic data and forecasts by the major industry associations offer initial pointers to a slight general economic recovery during the course of 2010, at present KROMI cannot perceive an improvement in the business environment for its target industries. The company is thus initially not basing its expectations for the coming months on a short-term recovery in its business. The Managing Board believes that revenues and earnings will be roughly on a par with the previous year's figures, to the extent that the company is not affected by extraordinary events, such as bankruptcies or customers' shifting production.

KROMI Logistik AG's full report on the first six months of fiscal year 2009/2010 will be available for download during the course of today at www.kromi.de in the Investor Relations segment.

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 optimize 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 three other European countries. To date, KROMI has primarily focused on customers in the engineering, shipbuilding and aerospace sectors as well as automotive suppliers. In fiscal year 2008/2009, the company recorded revenues on IFRS-basis of EUR 34,935 thousand (previous year: EUR 40,115 thousand). EBIT was at EUR -82 thousand (EUR 3,371 thousand).
On the Internet at www.kromi.de

Investor relations
cometis AG
Henryk Deter / Susanne Gremmler
Tel.: +49 (0)611-205855-23
Fax:  +49 (0)611-205855-66
E-mail: gremmler@cometis.de 

10.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

Language:     English
Company:      KROMI Logistik AG
              Tarpenring 11
              22419 Hamburg
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, München, Hamburg, 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