Press release BoxID: 126294 (KROMI Logistik AG)
  • KROMI Logistik AG
  • Tarpenring 11
  • 22419 Hamburg
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  • Henryk Deter
  • +49 (611) 205855-13

KROMI Logistik AG beats sales forecast and lays foundations for further growth

(PresseBox) (Hamburg, ) 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 32,205 thousand in fiscal year 2006/2007 (ending on June 30). Of this total, EUR 8,204 thousand were recorded in the fourth quarter. Hamburg-based KROMI Logistik has thus substantially exceeded its forecast revenues for the entire year of EUR 30,000 thousand as communicated in its ninemonth report. The annual financial statements were approved by the Supervisory Board in its meeting today.

The increase in sales with existing customers played a major role in this growth last fiscal year. As part of its ongoing expansion, KROMI Logistik also enjoyed above average growth abroad.

In 2006/2007, 17.0% (previous year: 12.7%) of revenues were already generated abroad. Less the cost of materials amounting to EUR 24,503 thousand, KROMI Logistik AG recorded gross profit on sales (without other operating income) of EUR 7,702 thousand. The gross margin on sales amounted to 23.9%. EBIT totaled EUR 2,448 thousand in fiscal year 2006/2007. Despite major investments in facilities and staff (increase from 36 to 67 employees as of June 30, 2007), KROMI recorded an EBIT margin of 7.6%. In total, KROMI Logistik AG recorded pre-tax earnings (EBT) in 2006/2007 of EUR 2,413 thousand and consolidated net income of EUR 1,459 thousand.

Since its IPO in March 2007, KROMI Logistik AG has already acquired more than ten new industrial customers with total annual potential for machining tools of more than EUR 15 million. Pilot tool management equipment has either already been installed at these customers or corresponding agreements have been reached. In so doing, KROMI Logistik has been able to penetrate new customer segments such as shipbuilding and new foreign markets in Eastern Europe.

The company is forecasting double-digit percentage revenue growth for current fiscal year 2007/2008 and a significant increase in its EBIT margin.