KROMI Logistik AG / Half Year Results/Forecast
14.02.2008
Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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-Revenues: +23% to EUR 18,459 thousand
-Net profits +40% to EUR 1,052 thousand
-Strong Q2: EBIT +86% compared to Q2 2006/07
-Positive outlook for entire year confirmed in greater detail
Hamburg, February 14, 2008 KROMI Logistik AG (German Securities Code
(WKN) A0KFUJ, ISIN DE000A0KFUJ5), Germany's first tool management provider
to work independently of a specific manufacturer, recorded consolidated
revenues totaling EUR 18,459 thousand in the first half of the current
fiscal year. This is strong growth of around 23% compared to the first half
of 2006/2007 (EUR 14,988 thousand). Percentage of international revenues
increased from 15% in the first half of last year to 23% in H1 2007/2008.
Revenues in the period from October to December 2007 (Q2) totaled EUR 9,467
thousand, up around 5% on the first quarter of the current fiscal year (Q1,
July 1 September 30, 2007).
At a group level, KROMI Logistik AG thus booked an increase in EBIT to EUR
1,429 thousand compared to EUR 1,313 thousand in the previous year, with a
corresponding increase in the EBIT margin to 7.7%. The second quarter in
particular played a greater role in this regard at 11.0% than the first
three months of the current fiscal year (Q1, 4.3%). These fluctuations are
in line with the company's expansion strategy. Compared to the same period
of the previous year (Q2 2006/2007: EUR 561 thousand), EBIT even lifted by
around 86% to EUR 1,044 thousand in Q2. EBIT growth in the individual
quarters is traditionally highly volatile as a result of KROMI Logistik
AGs business model. Consolidated earnings before taxes (EBT) for the first
six months totaled EUR 1,500 thousand (previous year: EUR 1,260 thousand),
with consolidated net income for the first six months amounting to EUR
1,052 thousand (H1 2006/07: EUR 750 thousand) after the deduction of taxes
(+40%).
Uwe Pfeiffer, who became the company's new CFO in December 2007,
summarized: 'The first half of fiscal year 2007/2008 was a great success
for KROMI Logistik AG. We consistently continued our strategy of growth and
expansion. Our business with existing customers gave us stable foundations
for our success. Our business with new customers is also enjoying positive
growth, in line with our forecasts. These figures show that we have hit the
nail right on the head with our tool management business model the
end-to-end supply of tools for manufacturing companies. We are very pleased
to be able to report that we signed a supply agreement with an automotive
supplier in Spain for the first time in January 2008. This means that KROMI
Logistik is also active on this strategically key market.'
The current third quarter has also been very pleasing to date from the
company's perspective. KROMI Logistik AG's Managing Board has confirmed
forecast revenues of between EUR 39,000 thousand and EUR 43,000 thousand
for fiscal year 2007/2008, compared to around EUR 32,000 thousand in fiscal
year 2006/2007. The anticipated increase in the EBIT margin will also
enable the company to record consolidated EBIT of EUR 3,000 thousand to EUR
3,300 thousand.
KROMI Logistik AG's H1 report for fiscal year 2007/08 will be published
today on the Web site www.kromi.de.
Company profile:
KROMI Logistik AG, as a manufacturer-independent tool provider, offers
producing companies an integrated supply of precision tools. In particular,
KROMI provides technically challenging chip removal tools (abrasion and
bracket tools) for metal and plastic processing. The Company combines
classical tool trading with a peripheral tool supply that includes output
machines in the customers production area and an IT-based tool management
and controlling system. The objective of KROMIs 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 currently has five locations in Germany and two abroad
(Slovakia and now also the Czech Republic), and also is represented by
selling agents in two other Eastern European countries. KROMI concentrates
primarily on clients in the engine construction, aerospace and automotive
supplier industries. In 2006/2007, the company generated revenues of EUR
32.2 million, an EBIT of EUR 2.4 million and a net profit of EUR 1.5
million. KROMI Logistik AG has its roots in Krollmann & Mittelstädt GmbH,
now known as Tarpenring 11 Vermögensverwaltungs GmbH. It was spun off from
this company on November 1, 2002 together with Krollmann & Mittelstädt
Hamburg GmbH.
On the Internet at www.kromi.de.
Investor relations contact:
cometis AG
Henryk Deter
Tel.: +49 (0)611-205855-13
Fax: +49 (0)611-205855-66
E-mail: deter@cometis.de
DGAP 14.02.2008
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Language: English
Issuer: 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, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: KROMI Logistik AG publishes 6-month report for 2007/2008
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