PresseBox
Pressemitteilung BoxID: 236192 (KROMI Logistik AG)
  • KROMI Logistik AG
  • Tarpenring 11
  • 22419 Hamburg
  • http://www.kromi.de
  • Ansprechpartner
  • Henryk Deter
  • +49 (611) 205855-13

KROMI Logistik AG: Positive 6-month figures, however forecast for full year 2008/2009 scaled down

(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 provisional consolidated revenues totaling EUR 20,216 thousand in the first half of fiscal year 2008/2009 (ending on June 30). Revenues are thus up 9.5% compared to the first six months of the previous year (EUR 18,459 thousand).

On the whole, it was possible to increase revenues in both Germany as well as on the relevant foreign markets and in all of the company's target industries. As a result of the financial crisis, the majority of customers used the unique constellation of public holidays over the Christmas/New Year period to shut down their production for a correspondingly long period. This led to a lower number of days of production in December and thus significantly lower revenues for KROMI Logistik that month. At the same time, implementing the HR investments required to put the strategic objectives in place led to an increase in personnel expenses to EUR 2,776 thousand in the first six months of the year compared to the same period of the previous year (EUR 2,103 thousand). These developments led to EBIT falling from EUR 1,429 thousand to EUR 938 thousand.

The dramatic economic slump over the course of the past few months has impacted the automotive supplier sector, the general engineering industry and also the construction industry. This development has not yet bottomed out. That means that KROMI Logistik can no longer reliably uphold its original guidance for fiscal year 2008/2009. It is not yet possible to make a serious forecast for the year as a whole as a result of the current lack of transparency. The current third quarter (January to March 2009) is the key factor in the forecast. After the end of the third quarter, KROMI Logistik AG's Managing Board will make a statement on the anticipated outcome for fiscal year 2008/2009.

To date, the company had forecast consolidated revenues of EUR 46,000 thousand to EUR 48,000 thousand and EBIT of EUR 3,400 thousand to EUR 3,700 thousand. The group recorded consolidated revenues of EUR 40,115 thousand with EBIT of EUR 3,371 thousand in 2007/2008.

As the economic crisis offers KROMI Logistik AG excellent opportunities for acquiring new customers as a result of its special business model, the Managing Board will continue its on-track strategy and continue to invest in growth and new markets.

KROMI Logistik AG will publish its six-month report for the fiscal year 2008/2009 on February 11, 2009 on its Web site www.kromi.de in the Investor Relations segment.

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.

On the Internet at www.kromi.de.