KROMI Logistik AG records significant revenue growth in first quarter of 2010/2011
- Revenues in Q1 2010/2011 up 21.2% to EUR 8,148 thousand (previous year: EUR 6,721 thousand)
- Managing Board confident regarding remainder of fiscal year
KROMI Logistik AG significantly increased its consolidated revenues in the first quarter of fiscal year 2010/2011 (as of June 30). The company, which specializes in the end-to-end supply of tools for manufacturing companies recorded revenue growth of EUR 6,721 thousand to EUR 8,148 thousand (+21.2%). Business growth was positively impacted in particular by the recovery in the global economy, which was particularly perceptible for KROMI Logistik, and the engineering industry and the automotive supply sector enjoyed particularly positive growth.
As part of the revenue growth, the cost of materials also increased from EUR 4,638 thousand to EUR 5,894 thousand. Other operating expenses increased from EUR 787 thousand to EUR 1,174 thousand. Three factors depressed earnings: Participation in the "AMB" trade fair (International Trade Fair for Metalworking), which is held in Stuttgart every two years at the end of September/start of October 2010, also costs for continuing to set up the subsidiary in Brazil and implementing tool management at new customers. In total, this resulted in EBIT of EUR -159 thousand (previous year: EUR 27 thousand).
Earnings before taxes (EBT) thus totaled EUR -156 thousand compared to EUR 26 thousand in the previous year. Income taxes fell from EUR 26 thousand to EUR 1 thousand. The group's earnings after taxes totaled EUR -155 thousand, compared to EUR 0 thousand in the previous year.
"The crisis is finally behind us. We are happy with our revenue growth. This shows that things are looking up again in our target industries. And we are benefiting from this recovery," commented Uwe Pfeiffer, KROMI Logistik AG's CFO, on the business growth. "We have a positive view of the coming months, and are confident that we will be able to continue to successfully implement our growth plans in future." As a result, the Managing Board has thus confirmed its forecast of consolidated revenues increasing to EUR 37-38 million, with EBIT expected to increase to around EUR 1 million.
KROMI Logistik AG's full report on the first quarter of fiscal year 2010/2011 will be available for download during the course of today at www.kromi.de in the Investor Relations segment.
About KROMI Logistik AG
cometis is a consultancy focusing on financial and corporate communication. Founded in 2000 and originally based in Frankfurt/Main the company is now based in Wiesbaden, the capital of the German state of Hesse. Our team of about 20 employees commands long-standing experience on the capital markets, and this forms the foundations for our top-of-the-range strategic, operational and methodical consulting services. cometis has realized 14 IPO projects and two additional stock market listings over the past four years, thus establishing itself as a leading IR consultancy in Germany.
In addition to supporting capital market transactions, we also offer a broad range of services to our clients for ongoing financial communication. These include drafting content as well as designing quarterly and annual reports, investor presentations, press and ad hoc releases, corporate Web sites, organizing media and investor roadshows, as well as preparing for annual shareholders' meetings. A key focus of our consulting services is personal coaching for company representatives. We offer both individual media and financial coaching and special sessions for fair and unfair dialectics. In our Corporate Communications business unit we support our clients with ongoing communication with internal and external target groups.
Our consultants combine in-depth business management, economic, journalistic and graphical expertise with the very best communication skills. In addition to our strong service orientation we reach pragmatic, immediately workable solutions for our clients' effective communication. At the same time, our extensive network of contacts with the national and international capital markets and media representatives support you in realizing your objectives.
You can find further information and references from various industries on our Web site www.cometis.de.