KROMI Logistik AG / Quarter Results/Forecast
07.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Revenues: +21% to EUR 29,072 thousand
- Net profits +11% to EUR 1,246 thousand
- Positive outlook for entire year confirmed
Hamburg, May 7, 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 29,072 thousand in the first nine months of the
current fiscal year. This is growth of around 21% compared to the first
nine month of 2006/2007 (EUR 24,001 thousand). The percentage of foreign
revenues also grew from 16% in the first three quarters of the previous
year to a current total of 24%.
Given the strong international corporate growth as well as the expected
positive ongoing business development, KROMI Logistik expanded its internal
structures during the first nine months. It has primarily invested in human
resources and sales. The number of employees (without the Managing Board)
increased to 79 on March 31, 2008, compared to 54 in the previous year. By
their very nature, these expenses reduced EBIT from EUR 1,988 thousand in
the first nine months of 2006/2007 to EUR 1,697 thousand. Pre-tax earnings
were down slightly year-on-year from EUR 1,879 thousand to EUR 1,792
thousand. Income taxes fell from EUR 760 in the previous year to EUR 546
thousand, which was primarily due to the reform of corporate taxation. This
bolstered the 11% increase in consolidated earnings for the first nine
months from EUR 1,119 thousand in 2006/2007 to EUR 1,246 thousand.
'The first nine months of the current fiscal year 2007/2008 have been
characterized by the booming economy in the engineering sector, which has
led to high requirements for tools at our customers and to longer lead
times for some tool manufacturers,' summarized Uwe Pfeiffer, CFO of KROMI
Logistik AG. 'That is why we have substantially increased our tool
inventories, in order to secure our delivery commitments to our customers.'
Pfeiffer added: 'At the same time, we have consistently continued our
strategy of growth and expansion, and our business with both existing and
new customers is continuing to enjoy strong growth.'
The current fourth 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. This increase in revenues should allow the company to
record consolidated EBIT of EUR 3,000 thousand to EUR 3,300 thousand.
KROMI Logistik AG's nine-month-report for fiscal year 2007/2008 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 07.05.2008
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
DGAP-News: KROMI Logistik AG publishes 9-month figures 2007/2008
| Source: EQS Group AG