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KROMI Logistik AG — Earnings Release 2011
Feb 8, 2012
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Earnings Release
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News Details
Corporate | 8 February 2012 08:00
KROMI Logistik AG reports significant revenue and earnings growth in first half of 2011/2012
KROMI Logistik AG / Key word(s): Half Year Results
08.02.2012 / 08:00
- Revenue up 47% to EUR 24,258 thousand
- Positive EBIT of EUR 546 thousand
- Managing Board confirms existing forecast
Hamburg, February 8, 2012 - KROMI Logistik AG, a provider of end-to-end
tools logistics solutions for manufacturing companies, reports significant
revenue growth in the first six months of its 2011/2012 fiscal year (as of
June 30). Between July 1 and December 31, 2011, the company generated EUR
24,258 thousand revenue, compared with EUR 16,504 thousand in the
corresponding prior-year period. Recording this approximately 47% growth,
the Group continues to consistently pursue its growth path. KROMI
benefited, firstly, from continued high production levels on the part of
manufacturing industry, and, secondly, from the fact that new customers
also made a notable contribution to the company's positive trend. KROMI
Logistik also reports tangible growth in earnings before interest and tax
(EBIT) in line with the successful progress of its business, registering at
EUR 546 thousand, compared with a EUR -389 thousand loss in the prior-year
period. The Managing Board confirms its forecast due to the successes
realised to date.
The cost of materials increased from EUR 11,957 thousand to EUR 17,842
thousand as a result of the marked expansion of business operations, with
the cost of materials ratio rising from 72.4% to 73.6%. Due to the hiring
of 23 new staff members, personnel expenses were up year-on-year,
increasing from EUR 2,680 thousand to EUR 3,405 thousand, whereas the
personnel expense ratio fell from 16.2% to 14.0%. In overall terms, this
fed through to significantly positive EBIT of EUR 546 thousand (previous
year: EUR -389 thousand). When taking into account interest expenses, other
income and taxes to be paid, the Group reported consolidated net income of
EUR 296 thousand, compared with a consolidated net loss of EUR -378
thousand in the comparable period of the previous year.
'These figures prove that KROMI Logistik is well on its way to achieving
the growth targets that it has set itself. In this context, supplying our
existing customers, and the gradual introduction of KROMI tool management
at new customers, continues to create a stable basis for our company's
continuous growth,' commented Jörg Schubert, CEO of KROMI Logistik AG. 'We
do not anticipate a sharp slowdown in the positive trend within our tool
management business due to order levels and production planning for the
coming months that our customers have communicated,' Schubert went on to
add. As a consequence, the Managing Board continues to assume that, during
this 2011/2012 fiscal year, which has proceeded well to date, the company
can exceed the more than 20% revenue growth that it realised in the
previous fiscal year. Despite the significant growth, and the related
higher level of investments in the further expansion of the Group, KROMI
Logistik continues to aim for a positive EBIT margin in the low
single-digit percentage range.
Over the course of the day, KROMI Logistik AG will make its full report for
the first half of the 2011/2012 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
and plastics (consumable and cutting tools, e.g. drills). KROMI 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'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 five
locations in Germany and four abroad (Slovakia, Czech Republic, Brazil and
Spain), and is active in five other European countries. To date, KROMI has
primarily focused on customers in the machine engineering, automotive
suppliers, aerospace sectors and marine engine construction.
Visit us online at: www.kromi.de
Investor Relations contact:
cometis AG
Henryk Deter / Janis Fischer
Tel.: +49 (0)611-205855-64
Fax: +49 (0)611-205855-66
E-mail: [email protected]
End of Corporate News
08.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: KROMI Logistik AG
Tarpenring 11
22419 Hamburg
Germany
Phone: 040/537151-0
Fax: 040/537151-99
E-mail: [email protected]
Internet: www.kromi.de
ISIN: DE000A0KFUJ5
WKN: A0KFUJ
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
155762 08.02.2012