KROMI Logistik AG — Earnings Release 2010

May 11, 2010

News Details

Corporate | 11 May 2010 08:01

KROMI Logistik AG publishes figures for the first nine months of fiscal year 2009/2010

KROMI Logistik AG / Quarter Results/Change in Forecast

11.05.2010 08:01

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• Revenues in first nine months down 16.4% to EUR 23,393 thousand (previous
  year: EUR 27,995 thousand)
• EBIT up substantially to EUR 193 thousand (previous year: EUR 102
  thousand)
• Forecast for year as a whole adjusted: Revenues expected to be lower
  than previous forecast, earnings at previous year's level

Hamburg, May 11, 2010 - KROMI Logistik AG (German Securities Code (WKN)
A0KFUJ, ISIN DE000A0KFUJ5) publishes its report on the first nine months of
fiscal year 2009/2010 (ending on June 30) today. During the period under
review, the Group recorded revenues of EUR 23,393 thousand compared to EUR
27,995 thousand in the previous year. This figure is thus down 16.4%. At
the end of the first six months of 2009/2010 this figure was 24.5% lower
than in the previous year. At the same time, KROMI Logistik has been able
to prove its profitability with renewed positive earnings, both at an
operating level and also after taxes.

The most important factor for the business development in the past nine
months has been the fact that production has remained at a low level in the
engineering segment in particular as a result of the international economic
crisis. However, from KROMI's perspective a slight positive trend could be
felt in the period from January to March 2010, in particular for customers
in the automotive supply sector, whereas there were downturns in line with
expectations in ship engine building.

The downturn in the cost of materials from EUR 20,830 thousand to EUR
16,899 thousand is based on a reduction of merchandise purchased and
warehouse management that has been further modified to customer
requirements. As a result the cost of materials ratio decreased from 74.4%
to 72.2%. At the same time, personnel expenses within the Group fell from
EUR 4,072 thousand to EUR 3,649 thousand. EBIT increased by 89.2% in the
first nine months from EUR 102 thousand to EUR 193 thousand. EBT totaled
EUR 201 thousand compared to EUR 206 thousand in the first nine months of
2008/2009. KROMI Logistik recorded consolidated earnings of EUR 81 thousand
in the first three quarters of 2009/2010 compared to EUR 130 thousand in
the same period of the previous year.

Even if initial signs of a slowly improving economy can be seen, many of
KROMI Logistik's customers are still producing at a significantly reduced
level. As a result, the Managing Board now believes that consolidated
revenues for fiscal year 2009/2010 will be slightly lower than the previous
forecast, and that it will thus not reach the level of 2008/2009. At the
same time, the Managing Board has also reinforced its forecast, made in
September 2009, that earnings will remain at around the previous year's
level.

'We are very pleased with our figures for the first nine months, despite
our lower revenues. The significant increase in our EBIT and the renewed
positive earnings after taxes show the efficiency of our business model and
signalize that we have an excellent grip on our costs,' commented Uwe
Pfeiffer on the nine-month figures. 'We are convinced that we will emerge
as a stronger company from the economic crisis, which is still making
itself felt in the manufacturing sector, and that we will be able to
successfully realize our international growth potential.'

KROMI Logistik AG's full report on the first nine 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

11.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: KROMI Logistik AG
Tarpenring 11
22419 Hamburg
Deutschland
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

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