PresseBox
Pressemitteilung BoxID: 237840 (KROMI Logistik AG)
  • KROMI Logistik AG
  • Tarpenring 11
  • 22419 Hamburg
  • http://www.kromi.de
  • Ansprechpartner
  • Henryk Deter
  • +49 (611) 205855-13

KROMI Logistik AG records growth in all target sectors in H1 2008/2009

Revenues up 9.5% based on final figures / Foreign income up to 26.8%

(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, continued its successful growth in the first half of fiscal year 2008/2009 (ending on June 30). Based on final figures, the company recorded consolidated revenues of EUR 20,216 thousand, up 9.5 % compared to the first half of the previous year (EUR 18,459 thousand). At the same time, the proportion of international income increased to 26.8 %, after totaling 23.2 % in the previous year.

KROMI Logistik specializes in providing manufacturing companies with an end-to-end supply of machining tools (such as drill bits). During the period under review, the company was able to increase its revenues despite the difficult economic situation in Germany and on its relevant foreign markets as well as in all of its target industries.

Demand for tool management solutions continues to be high. "We believe that machining companies' readiness to investigate our concept will tend to increase in future," commented CFO Uwe Pfeiffer on the business growth. "Much-needed structural changes to improve productivity and competitive ability are easier to implement under economic pressure," he added.

In line with the business model, cost of materials increased 10.7 % to EUR 14,845 thousand (previous year: EUR 13,411 thousand), the largest item after revenues. As a result, the cost of materials ratio increased from 72.7 % in the previous year to a current total of 73.4 %. New hires, pay rises at KROMI Logistik and provisions for wages and salaries caused the group's personnel expenses to increase from EUR 2,103 thousand to EUR 2,776 thousand. The personnel expenses ratio increased accordingly from 11.4 % to 13.7 %.

In terms of earnings, EBIT fell from EUR 1,429 thousand to EUR 938 thousand, in particular due to the higher personnel expenses and the weaker revenues in December. KROMI Logistik recorded EBT of EUR 1,039 thousand, compared to EUR 1,500 thousand in the first half of last year. Consolidated earnings after taxes fell from EUR 1,052 thousand to EUR 705 thousand.

"In view of the massive economic slump over just a very short period that is being felt world-wide, we are very pleased with our earnings in the first six months of the current fiscal year," commented CFO Uwe Pfeiffer on the figures. "Our special business model, which offers our customers great potential savings for tool supply, means that there are excellent opportunities for us to acquire new customers given the current economic crisis. That is why we will continue the strategy we have successfully pursued to date and invest further in growth and new markets."

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.