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KROMI Logistik AG: Revenues and profits up significantly in Q1 2008/2009
- Revenues up 20.1% to EUR 10,797 thousand
- EBIT up 15.1% to EUR 443 thousand
KROMI Logistik AG (German Securities Code (WKN) A0KFUJ, ISIN DE000A0KFUJ5) significantly lifted both its revenues and earnings again in the first quarter of the new fiscal year 2008/2009 (as of June 30). The company was able to increase its consolidated revenues from EUR 8,992 thousand in the first quarter of the previous fiscal year to EUR 10,797 thousand (up 20.1%). EBIT also rose by 15.1% from EUR 385 thousand to EUR 443 thousand.
KROMI Logistik AG offers manufacturing companies end-to-end outsourcing for the supply of precision tools (tool management) and it focuses on machining tools for metalworking and plastics. During the first quarter, in particular the high uptake of production capacity at the company's existing customers contributed to its growth. KROMI Logistik AG's EBT increased by 15.1% to EUR 481 thousand, consolidated net income increased year-on-year by 2.2% to EUR 327 thousand as a result of an one-off factor connected with the reversal of deferred taxes.
"Our company's renewed positive development in the first quarter once again confirms that our customers are continuing to truly accept our business model. Our reliable end-to-end tool supply allows companies to focus more intensely on their core competences again," commented Uwe Pfeiffer, KROMI Logistik AG's CFO. "I am very optimistic that we will continue our successful international growth strategy over the coming months and years. The extent to which the economic downturn affects our target industries remains to be seen. In addition, at the present point in time we cannot foresee the impact of the conflict surrounding the collective agreements in the metal industry. However, there is still a need for tool management during difficult economic periods, because this allows machining companies among other things to reduce their costs for tool supply significantly."
KROMI Logistik AG will publish its full consolidated financial statements (IFRS) for the first quarter of fiscal year 2008/2009 during the course of November 13 at www.kromi.de in the Investor Relations segment.
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