Press release BoxID: 224715 (KROMI Logistik AG)
  • KROMI Logistik AG
  • Tarpenring 11
  • 22419 Hamburg
  • Contact person
  • Henryk Deter
  • +49 (611) 205855-13

KROMI Logistik AG's shareholders approve all agenda items at the 2008 General Meeting

Managing Board confirms forecast for 2008/2009

(PresseBox) (Hamburg, ) At its ordinary General Meeting today in Hamburg, KROMI Logistik AG (German Securities Code (WKN) A0KFUJ, ISIN DE000A0KFUJ5) once again enjoyed strong support from its shareholders. The shareholders ratified the members of the Supervisory and Managing Boards with a large majority and also approved all of the other agenda items. In total, around 77.14% of the company's voting capital was in attendance at the meeting.

"We successfully drove our company's growth in fiscal year 2007/2008 and also in the first quarter of the current fiscal year," commented Jörg Schubert, CEO of KROMI Logistik AG. He thanked KROMI Logistik AG's shareholders for the trust they have placed in the company during the past few months, and added: "Our unique combination of competitive advantages for tool management means that we are perfectly positioned to continue to grow in future. Our international expansion strategy is progressing well, which was reflected in particular in the increase in our foreign sales from 17% to around 25% last fiscal year."

The CEO also believes that there will continue to be strong demand for tool management in future as the difficult economic environment is forcing companies in KROMI Logistik's target industries to become more efficient. The company's management has confirmed its forecast for fiscal year 2008/2009 that it will record revenues of EUR 46,000 thousand to EUR 48,000 thousand. Consolidated EBIT is expected in a range from EUR 3,400 thousand to EUR 3,700 thousand. In 2007/2008, KROMI Logistik AG recorded revenues of EUR 40,115 thousand and EBIT of EUR 3,371 thousand.

KROMI Logistik AG

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. 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 is already present at five locations in Germany and two abroad (Slovakia, Czech Republic) and is active in six other European countries. Additionally, in September 2008 KROMI founded a subsidiary in Brazil. To date, KROMI has primarily focused on customers in the engineering, shipbuilding and aerospace sectors as well as automotive suppliers. In fiscal year 2007/08, the company recorded revenues of EUR 40.1 million, EBIT of EUR 3.4 million and consolidated net income of EUR 2.3 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.

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