08.05.2018
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DGAP-News: KROMI Logistik AG: KROMI Logistik AG increases sales and optimizes strategy
DGAP-News: KROMI Logistik AG / Key word(s): 9-month figures
KROMI Logistik AG: KROMI Logistik AG increases sales and optimizes strategy
08.05.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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KROMI Logistik AG increases sales and optimizes strategy
* First nine months of 2017/18 with 13.8 % jump in sales by comparison
with previous year
* Operating earnings boosted by 31.5 %
* Strategic optimization puts emphasis on maximizing benefit to customers
Hamburg, May 8, 2018 - KROMI Logistik AG, an independent expert in
optimizing tool availability and tool deployment in machining operations,
achieved sales growth of 13.8 % by comparison with the previous year in the
first nine months of the 2017/2018 financial year. Between July 1, 2017 and
March 31, 2018, the company generated revenues of KEUR 61,765 (previous
year: KEUR 54,269). KROMI succeeded in boosting EBIT - adjusted to take
account of non-operating effects not impacting the cash position - by 31.5 %
to KEUR 1,679 in the same period (previous year: KEUR 1,277).
Developments in the first nine months of the 2017/2018 financial year
reflect the high business potential of KROMI's attractive business model.
KROMI succeeded in increasing sales revenues in its domestic business by
11.6 % to KEUR 36,887 (previous year: KEUR 33,051). Business in European
countries outside Germany also showed positive growth with sales of KEUR
19,358 (previous year: KEUR 17,372). In addition, business in Brazil once
again exhibited particularly dynamic performance. In the first nine months,
this segment contributed KEUR 5,520 towards sales (previous year: KEUR
3,846) which corresponds to growth of 43.5 %.
"KROMI has been growing significantly faster than the market for some time.
Numerous, promising dialogs with potential new customers confirm our
impression that more and more companies now discern and appreciate the
benefit of working with KROMI. As a specialist in machining technology and
as a data manager for our customers, we see ourselves as excellently
positioned, particularly with regard to Industry 4.0", reports Bernd
Paulini, spokesman for KROMI's Management Board.
The cost of materials increased in the first nine months of 2017/2018 to
KEUR 47,467 (previous year: KEUR 40,821) which results in a higher cost of
materials ratio of 76.9 % (previous year: 75.2 %). As a consequence, the
gross margin on sales (gross profit margin) has dropped to 23.1 % (previous
year: 24.8 %). This development is essentially due to the winding up of a
supply contract with a major customer. By comparison with the same period in
the previous year, personnel costs rose from KEUR 7,934 to KEUR 9,419 which
corresponds to a higher personnel cost ratio of 15.2 % (previous year: 14.6
%). This development is due to the one-off special effect of a provision not
impacting liquidity in the wake of the departure of former Chairman Jörg
Schubert. Adjusted to take account of this special item, the personnel cost
ratio fell to 13.4 %. Depreciation amounting to KEUR 602 in the first nine
months of 2017/2018 was slightly below the level of the previous year of
KEUR 625.
Operating earnings, i.e. EBIT adjusted to take account of non-operating
effects with no effect on the cash position, increased by 31.5 % from KEUR
1,277 in the previous year to KEUR 1,679. Operating earnings (EBIT) amounted
to KEUR -23 following KEUR 1,659 in the previous year. These changes are due
to the unscheduled personnel cost provision already mentioned and to imputed
foreign exchange losses of KEUR 568 (previous year: foreign exchange gains
of KEUR 382). Taxes on income fell to KEUR 351 (previous year: KEUR 396).
Overall, this resulted in consolidated earnings of KEUR -660 for the first
nine months of 2017/2018 (previous year: KEUR 952).
"In spite of the high potential of our business, we have had to adjust our
earnings forecast for the 2017/2018 financial year due to unscheduled events
within the reporting period. We are now expecting operating earnings to come
in at breakeven or to show a slight profit before extraordinary,
non-operating items resulting from foreign currency translation and the
provision in connection with the departure of the former Chairman of the
Board Jörg Schubert. In terms of sales in 2017/2018, we are still
forecasting growth in the upper single-digit percentage range by comparison
with the previous year", says CFO Uwe Pfeiffer commenting on the results.
As Bernd Paulini adds: "Together with the Supervisory Board, we in KROMI's
management team have decided to place even greater emphasis on maximizing
customer benefits in our actions to enable us to exploit the existing
potential even more efficiently in the future. As an expert in optimizing
the availability and deployment of tools in machining operations which has
no allegiance to any particular manufacturer, we analyze customers'
processes and data in detail. The aim is to identify improvement potentials
for customers and incorporate tool supply with all requisite services to the
best possible effect. This also includes analyzing our own processes and
process costs to make them leaner and develop alternative price models to
enable us in the future to offer our customers models that are even more
transparent and customized."
In the course of the day, KROMI will provide the complete report for the
first nine months of 2017/2018 prepared in accordance with IFRS on its
website www.kromi.de in the Investor Relations section for downloading.
Company profile:
KROMI Logistik AG (KROMI), Hamburg, is an independent expert in optimizing
the availability and deployment of tools in machining operations. As a
trustworthy and transparent partner to industry, KROMI combines machining
technology, data management and lean logistical processes to form winning
overall solutions. By providing networked, automated dispensers in the
customer's manufacturing area with simultaneous, digital stock control,
KROMI ensures optimum use and availability of the necessary equipment in the
right place at the right time. The aim of KROMI's activities is to offer
machining operations in the core markets of Europe and Brazil the highest
benefit to customers at all times. To this end, the customer's processes are
analyzed in detail, opportunities and potential for improvement identified
and tool supply with all requisite services thus incorporated to the best
possible effect. KROMI currently maintains facilities in Germany, Slovakia,
Czech Republic, Spain and Brazil. KROMI also operates in five other European
countries.
On the internet at: www.kromi.de
Contact for Investor Relations:
cometis AG
Claudius Krause
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66
email: [email protected]
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08.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
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Language: English
Company: KROMI Logistik AG
Tarpenring 11
22419 Hamburg
Germany
Phone: 040/537151-0
Fax: 040/537151-99
E-mail: [email protected]
Internet: www.kromi.de
ISIN: DE000A0KFUJ5
WKN: A0KFUJ
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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683249 08.05.2018
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