KROMI Logistik AG publishes nine-month report for FY 2015/2016
- Revenue outperforms the market, increasing to EUR 51,045 thousand (previous year: EUR 46,688 thousand)
- Pure operating earnings, net of currency effects, significantly higher year-on-year at EUR 1,227 thousand (EUR 925 thousand)
- Outlook confirmed: targeted further revenue growth in upper single-digit percentage range, continuous EBIT gains expected
Hamburg, May 13, 2016 – KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, raised its revenue growth significantly by 9.3 % during the first nine months of the 2015/2016 fiscal year. Revenue of EUR 51,045 thousand in total was generated between July 1, 2015 and March 31, 2016 (previous year: EUR 46,688 thousand). KROMI Logistik lifted sales revenue in all the relevant target sectors and outperformed the market in terms of its growth. Net of exchange rate effects, pure operating earnings saw a notable improvement.
In accordance with its strategic goal, the company has succeeded in expanding its customer base, both in Germany and abroad, and especially business with large scale customers. During the reporting period in fiscal 2015/2016, revenue in Germany grew to EUR 31,488 thousand, up 4.9 % from EUR 30,025 thousand in the prior-year period. Operations also developed very successfully outside Germany: Revenue from abroad stood at EUR 19,577 thousand, some 17.4 % higher year on year (EUR 16,663 thousand).
“We are very satisfied with business developments in Germany and abroad. Our business in Brazil also performed particularly pleasingly in the reporting period. Despite the persistently challenging economic environment, our subsidiary here succeeded in maintaining sales revenues denominated in the local currency of Brazilian real at the previous year’s level. This success is attributable, among other reasons, to our Brazilian subsidiary’s outstanding success in acquiring new customers”, comments Jörg Schubert, CEO of KROMI Logistik.
The cost of materials increased from EUR 35,324 thousand to EUR 38,759 thousand in the period under review, while the cost of materials ratio, that came in at 75.9 %, remained virtually unchanged from the year-earlier level of 75.7 %. This resulted in a consistently strong gross profit margin of 24.1 % (previous year: 24.3 %). In a year-on-year comparison, staff costs climbed to EUR 7,512 thousand, up from EUR 6,748 thousand, owing to investments in staff for the new customer business that made a substantial contribution to lifting revenue in the reporting period. At 14.7 %, the staff cost ratio settled around the prior-year level (14.5 %).
These gratifying developments are also reflected in the company’s performance. In the first nine months of fiscal 2015/2016, KROMI Logistik achieved pure operating earnings of EUR 1,227 thousand, adjusted for exchange rate effects (previous year: EUR 770 thousand), corresponding to significant growth of 59.4 %. KROMI Logistik also raised unadjusted profit from operations (EBIT) that stood at EUR 409 thousand (previous year: EUR 100 thousand). Unrealized currency differences amounted to EUR 818 thousand (previous year: EUR 670 thousand). Uwe Pfeiffer, KROMI Logistik’s CFO, adds: “Our business operations have performed extremely well in the current fiscal year. In the case of unrealized Brazilian real to euro currency differences, it is important to note that these effects were not generated by commercial transactions. These non-cash exchange rate effects are merely the result of imputed exchange rate conversions of the investment by the parent company in respect of its Brazilian subsidiary.” The consolidated result net of exchange rate effects stood at EUR 466 thousand, and the consolidated result was reported at EUR -352 thousand (previous year: EUR -416 thousand).
“We can look back on a generally very pleasing nine months in 2015/2016 during which we substantially increased our revenue as well as our pure operating result, with a gross profit margin that remained stable. These key indicators reflect the intrinsic value and stability of our business model. Over the past nine months, we have also strengthened our company by hiring more staff, restructured the responsibilities, and continued to realign our range of products and services with a view to the future in order to leverage our opportunities for growth in the future as well,” states Jörg Schubert. In this context, the Managing Board is confirming its full-year forecast for 2015/2016 of realising revenue growth in the upper single-digit percentage range.
KROMI Logistik will make its full (IFRS) report for the first nine months of its 2015/2016 fiscal year available for downloading on its website at www.kromi.de under the Investor Relations heading.
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 six 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
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