Press release BoxID: 171967 (KROMI Logistik AG)
  • KROMI Logistik AG
  • Tarpenring 11
  • 22419 Hamburg
  • Contact person
  • Henryk Deter
  • +49 (611) 205855-13

KROMI Logistik AG publishes 9-month figures 2007/2008

(PresseBox) (Hamburg, ) .
- Revenues: +21% to EUR 29,072 thousand
- Net profits +11% to EUR 1,246 thousand
- Positive outlook for entire year confirmed

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 months 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