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DGAP-News: KROMI Logistik AG publishes complete financial figures for the 2009/2010 fiscal year

KROMI Logistik AG / Key word(s): Final Results/Forecast
21.09.2010 08:00

- Revenue declined by 10.7 % to TEUR 31,198 in the 2009/2010 financial year (previous year: TEUR 34,935)
- Earnings trend provides evidence of business model's resilience - Management and Supervisory boards propose first dividend: planned distribution of EUR 0.15 per share
- Outlook for 2010/2011: revenue growth to around between EUR 37 million and EUR 38 million, and EBIT set to rise to around EUR 1 million

Hamburg, September 21, 2010 - KROMI Logistik AG today publishes its complete annual report for the 2009/2010 financial year (as of June 30). The company again provided evidence of its profitability during the period under review: while revenue was down 10.7 %, the operating result (EBIT) and Group net income were approximately at the previous year's level. As a consequence, KROMI Logistik AG, which specializes in providing comprehensive tool supplies to manufacturing companies, reported a good performance. During the first six months of the fiscal year, the economic crisis continued to place a significant burden on business trends. By contrast, the picture brightened again gradually over the course of the second half of the year in the company's most important target sectors, the mechanical engineering and automotive supply sectors.
In overall terms, KROMI Logistik AG's consolidated revenue dropped by 10.7 %, from TEUR 34,935 in the previous year to TEUR 31,198. Earnings before interest and tax (EBIT) for 2009/2010 amounted to TEUR 175, compared with TEUR -82 in the previous year. This figure includes charges arising from the winding up of a business relationship with an insolvent customer. On an adjusted basis, 2009/2010 EBIT reached TEUR 694, compared with the previous year's comparable figure of TEUR 918. Earnings before tax (EBIT) reached TEUR 182 (previous year: TEUR 44). At TEUR 56, consolidated net income for the year was also above the previous year's level of TEUR 33.
'We are proud that we have managed to demonstrate our resilience in the 2009/2010 financial year, despite the dramatic effects of the economic crisis. Sentiment among most of our customers has also improved again in the meantime, and we are therefore taking a very confident view of the future,' was how Jörg Schubert, CEO of KROMI Logistik AG, characterized business trends. 'The new supply contracts that we have won in recent months also create a good basis for our future international growth,' he went on to add.

Over the course of the financial year elapsed, KROMI Logistik has already achieved significant progress in the development of its Brazilian subsidiary, which was founded in 2008. This subsidiary has acquired several customers to date, and generated its first revenues. Supply contracts have also been concluded with new customers in line with the abating economic crisis in Germany, Italy, Romania and Slovakia.

As a positive signal for the anticipated continued corporate trend, the Managing and Supervisory boards are proposing to the Shareholders' General Meeting to be held on December 9, 2010, that a dividend of EUR 0.15 per share be paid from the balance sheet profit (according to German Commercial Code/HGB) of TEUR 1,638. 'This is the first time in our company's history that we are paying a dividend. We intend this to be a sign that we take a very optimistic view of future business trends,' commented CFO Uwe Pfeiffer. For the 2010/2011 financial year that has already commenced, the Managing Board anticipates that consolidated revenue will grow to between EUR 37 million and EUR 38 million, and that EBIT should rise to around EUR 1 million.

Over the course of the day, KROMI Logistik AG will make its complete IFRS consolidated financial statements for the 2009/2010 financial year available for download on its website at www.kromi.de, in 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 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 2009/2010, the company recorded revenues on IFRS-basis of EUR 31,198 thousand (previous year: EUR 34,935 thousand). EBIT was at EUR 175 thousand (EUR -82 thousand).

On the Internet at www.kromi.de

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

21.09.2010 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.
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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 Hamburg, München, Düsseldorf, Berlin, Stuttgart  
End of Announcement 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