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DGAP-News: KROMI Logistik AG records significant revenue growth in first quarter of 2010/2011

KROMI Logistik AG / Key word(s): Quarter Results
10.11.2010 08:00

- Revenues in Q1 2010/2011 up 21.2% to EUR 8,148 thousand (previous year: EUR 6,721 thousand)
- Managing Board confident regarding remainder of fiscal year
Hamburg, November 10, 2010 - KROMI Logistik AG significantly increased its consolidated revenues in the first quarter of fiscal year 2010/2011 (as of June 30). The company, which specializes in the end-to-end supply of tools for manufacturing companies recorded revenue growth of EUR 6,721 thousand to EUR 8,148 thousand (+21.2%). Business growth was positively impacted in particular by the recovery in the global economy, which was particularly perceptible for KROMI Logistik, and the engineering industry and the automotive supply sector enjoyed particularly positive growth.
As part of the revenue growth, the cost of materials also increased from EUR 4,638 thousand to EUR 5,894 thousand. Other operating expenses increased from EUR 787 thousand to EUR 1,174 thousand. Three factors depressed earnings: Participation in the 'AMB' trade fair (International Trade Fair for Metalworking), which is held in Stuttgart every two years at the end of September/start of October 2010, also costs for continuing to set up the subsidiary in Brazil and implementing tool management at new customers. In total, this resulted in EBIT of EUR -159 thousand (previous year: EUR 27 thousand).

Earnings before taxes (EBT) thus totaled EUR -156 thousand compared to EUR 26 thousand in the previous year. Income taxes fell from EUR 26 thousand to EUR 1 thousand. The group's earnings after taxes totaled EUR -155 thousand, compared to EUR 0 thousand in the previous year.

'The crisis is finally behind us. We are happy with our revenue growth. This shows that things are looking up again in our target industries. And we are benefiting from this recovery,' commented Uwe Pfeiffer, KROMI Logistik AG's CFO, on the business growth. 'We have a positive view of the coming months, and are confident that we will be able to continue to successfully implement our growth plans in future.' As a result, the Managing Board has thus confirmed its forecast of consolidated revenues increasing to EUR 37-38 million, with EBIT expected to increase to around EUR 1 million.

KROMI Logistik AG's full report on the first quarter of fiscal year 2010/2011 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 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

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 

10.11.2010 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.
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 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