KROMI Logistik AG publishes H1 report for FY 2014/2015
- Revenue registers slight growth to EUR 29,855 thousand (previous year: EUR 29,058 thousand)
- EBIT of EUR 130 thousand also up year-on-year (EUR 85 thousand)
- Outlook confirmed: further revenue growth in upper single-digit percentage range and gradual rise in operating result (EBIT) for current FY 2014/2015 targeted
Hamburg, February 12, 2015 - KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, is reporting slight revenue growth in the first six months of its 2014/2015 fiscal year (July 1 to December 31, 2014) to a level of EUR 29,855 thousand, equivalent to a 2.7% increase compared with the previous year's EUR 29,058. As customer production levels usually prove more moderate during the holiday months, demand for KROMI services recovered tangibly in the second quarter of the company's fiscal year, especially in December. Earnings before interest and tax (EBIT) of EUR 130 thousand were also slightly above the previous year's
EUR 85 thousand.
"Our well-balanced customer structure - which is diversified across several sectors and markets both in Germany and abroad - generated overall satisfactory business trends during the second half of our fiscal year just ended. We were able to grow our sales revenues further, especially with our German customers," notes Jörg Schubert, CEO of KROMI Logistik.
The cost of materials registered a slight increase from EUR 21,980 thousand to EUR 22,416 thousand, with the customer to ratio falling from 75.6 % to 75.1 %. In line with this development, the gross profit margin was raised to 24.9 %, compared with 24.4 % in the previous-year period. This performance indicator also increased a little further compared with the full 2013/2014 fiscal year, when the gross profit margin amounted to 23.8 %.
Staff costs showed an increase from EUR 3,803 thousand to EUR 4,411 thousand. The staff cost ratio was thereby held constant at 14.8 % compared with the first quarter of 2014/2015, although it reflected a marked increase compared with the prior-year quarter (13.1 %). "This trend reflects new hires for customers that are still in the preparatory or start-up phase of supplies, and therefore do not yet make significant contributions to sales revenues," as Uwe Pfeiffer, CFO at KROMI Logistik, explains this expense development.
As a consequence, the Group reported EUR 130 thousand of earnings before interest and tax (EBIT) for the first six months of 2014/2015, a slight increase compared with the previous year's EUR 85 thousand. When adjusted for expenses arising from unrealised valuation losses, pure operating earnings stood at EUR 457 thousand (previous year: EUR 498 thousand). At the bottom line, KROMI Logistik reported a consolidated net loss of EUR -194 thousand (previous year: EUR -224 thousand).
"We look back on a first half of our 2014/2015 fiscal year that was challenging, but satisfactory overall, during which we reported slight growth in both sales revenue and EBIT. The rise in our gross profit margin to 24.9%, compared with 23.8% at the end of the 2013/2014 fiscal year, is also pleasing. These key indicators reflect our business model's intrinsic value and stability. We are convinced that we can continue to achieve successive revenue growth in combination with rising profitability," as Jörg Schubert commented. In this connection, the Managing Board is confirming its forecast of realising revenue growth in the upper single-digit percentage range on a full-year view. KROMI Logistik is also aiming for further EBIT growth, given stable economic trends.
Over the course of the day, KROMI Logistik will make its full (IFRS) report for the first six months of its 2014/2015 fiscal year available for downloading on its website at www.kromi.de within the Investor Relations area.
Company profile:
KROMI Logistik AG offers manufacturing companies end-to-end outsourcing for their supply of precision machining tools, both in Germany and abroad. The company focuses on technically advanced machining tools for metalworking (consumable and cutting tools, e.g. drills). KROMI Logistik combines conventional tool retailing with a decentralised tool supply system that includes output machines in the customer's production area and an IT-based tool management and controlling system. KROMI Logistik's aim is to sustainably optimise the supply of resources (particularly tools) for its customers and to secure the availability of the appropriate resources at the right time and in the right place. The company is currently represented at four locations in Germany and four abroad (Slovakia, Czech Republic, Brazil and Spain), and is active in five other European countries. To date, KROMI Logistik has primarily focused on customers in the machine engineering, automotive suppliers and aerospace sectors as well as marine engine construction.
Visit us online at: www.kromi.de
Investor relations contact:
cometis AG
Janis Blaum
Phone: +49 (0)611-205855-64
Fax: +49 (0)611-205855-66
E-mail: blaum@cometis.de
