DGAP-Adhoc: KROMI Logistik AG: Revenue of EUR 63,341 thousand and EBIT of EUR 630 thousand according to preliminary FY 2014 / 2015 results

KROMI Logistik AG  / Key word(s): Preliminary Results

28.07.2015 18:48

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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KROMI Logistik AG: Revenue of EUR 63,341 thousand and EBIT of EUR 630
thousand according to preliminary FY 2014 / 2015 results

Hamburg, July 28, 2015 - KROMI Logistik AG (WKN A0KFUJ, ISIN DE000A0KFUJ5)
achieved year-on-year growth of 3.4% in its sales revenue to reach EUR
63,341 thousand (previous year: EUR 61,287 thousand) in the 2014 / 2015
fiscal year (preliminary IFRS results), thereby falling short of its own
full-year target. Compared with the previous year, the company relinquished
around EUR 3,000 thousand of revenue contribution in the 2014 / 2015 fiscal
year due to the winding down of business activities with a major customer
in Italy. When adjusted to reflect this figure, revenue growth generated
with new and existing customers would have been up by around 8.7%
year-on-year. In this context, expansion of business with existing
customers not only made a considerable contribution to revenue growth, but
also to an improvement in the gross profit margin, which rose to 25.8% at
Group level (previous year: 25.1%). As already commented upon in the 2014 /
2015 nine-month report, a strong fourth quarter at the upper end of
internal planning would have been required to achieve the full-year
forecast at revenue level (revenue growth in the upper single-digit
percentage range). The start-up process with various new customers - often
multinational groups - nevertheless continued to be delayed, with such
customers consequently not yet making any significant contribution to
revenue in the 2014 / 2015 fiscal year. At the same time, KROMI Logistik
made substantial investments in this business with new customers in the
2014 / 2015 fiscal year, in order to thereby establish the personnel
preconditions for business that is expected to accrue in the future. The
Managing Board of KROMI Logistik is currently in intensive dialogue with
such customers, and firmly anticipates that it will start supplying these
customers. Despite the improved gross margin profitability, these
future-oriented investments - reflected in higher staff costs and other
operating expenses - exerted a corresponding impact on operating earnings
before interest and tax (EBIT), while accounting-related currency losses
deriving from the depreciation of the Brazilian Real to the Euro placed an
additional burden on EBIT. EBIT amounted to EUR 630 thousand in the 2014 /
2015 fiscal year (previous year: EUR 1,252 thousand). When adjusted for
expenses arising from unrealised valuation losses from the Brazilian
business, pure operating earnings stood at EUR 1,269 thousand (previous
year: EUR 1,403 thousand). On the basis of the assumption that the economic
situation in Brazil and the delayed start-up process with various new
customers would have developed positively, the Managing Board had
originally anticipated continuous EBIT growth for the fiscal year.

The full 2014 / 2015 annual report will be published on September 16, 2015.


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Information and Explaination of the Issuer to this News:

Contact Investor Relations:

cometis AG
Claudius Krause
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66
E-mail: krause@cometis.de

28.07.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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
              Germany
Phone:        040/537151-0
Fax:          040/537151-99
E-mail:       info@kromi.de
Internet:     www.kromi.de
ISIN:         DE000A0KFUJ5
WKN:          A0KFUJ
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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