KROMI Logistik AG publishes 6-month report for 2007/2008
- 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
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 AG’s 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.
KROMI Logistik AG
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 customer's production area and an IT-based tool management and controlling system. The objective of KROMI's 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.