KROMI Logistik AG publishes 2016/2017 annual report
- Revenue growth of 6.9 % to EUR 74,306 thousand significantly outpaces market
- Brazil business reports marked revenue growth of around 90 %
- Improved profitability: gross profit margin at 24.8 %
- Operating result (EBIT) up almost 60 % far outstrips revenue growth to reach EUR 2,042 thousand
- Consolidated net income of EUR 1,116 thousand
Hamburg, September 28, 2017 – KROMI Logistik AG, a provider of end-to-end tools logistics solutions for manufacturing companies, reports significant year-on-year revenue growth of 6.9 % in the 2016/2017 fiscal year. Between July 1, 2016 and June 30, 2017, the company generated revenue of EUR 74,306 thousand (previous year: EUR 69,481 thousand). KROMI Logistik thereby outperformed the market. The operating profit (EBIT) registered a marked increase to EUR 2,042 thousand (previous year: EUR 1,283 thousand), also reflecting accounting-based currency effects.
In the 2016/2017 fiscal year, the growth path of KROMI Logistik continued with a positive trend in revenue and earnings. In line with its strategic orientation, the company succeeded in further expanding its customer business both domestically and abroad, and in continuing its previous years’ positive business trend. Domestic revenue generated in the core German market was up by 5.2 % to EUR 44,414 thousand (previous year: EUR 42,237 thousand). Revenue generated outside Germany grew by a total of almost 10 % to EUR 29,892 thousand. EU countries outside Germany contributed EUR 24,381 thousand to this increase, while business in Brazil accounted for EUR 5,511 thousand.
“We have further grown our business in Germany through acquiring new customers and through working together successfully with our existing customers. Revenue in Brazil has jumped by a massive 89.6 % thanks to new customers and raised production levels. We also opened a new Brazilian site in Rio Grande do Sul. Together with a stable trend in European countries outside Germany, KROMI remains on its growth track,” notes Jörg Schubert, CEO of KROMI Logistik.
The cost of materials was up by 5.2 % in the reporting period, from EUR 53,083 thousand to EUR 55,861 thousand. The cost of materials ratio also reported a corresponding improvement to 75.2 %, down from the previous year’s 76.4 %, leading to a higher gross profit margin of 24.8 % (previous year: 23.6 %). Staff costs reported only a slight year-on-year increase from EUR 10,185 thousand to EUR 10,937 thousand, with the staff cost ratio of 14.7 % thereby standing at the previous year’s level. Depreciation and amortisation amounted to EUR 563 thousand in the 2016/2017 fiscal year, compared with EUR 590 thousand in the previous year. These pleasing trends achieved during the reporting period are also reflected in the company’s earnings. KROMI Logistik reported operating profit (EBIT) growth at a considerably faster rate than its increase in revenue, showing a significant improvement of 59.2 % to reach EUR 2,042 thousand (previous year: EUR 1,283 thousand). In the 2016/2017 fiscal year, the reported consolidated net income amounted to EUR 1,116 thousand (previous year: EUR 409 thousand).
Uwe Pfeiffer, CFO of KROMI Logistik, is satisfied overall with the performance in 2016/2017: “Altogether, our operating business developed very positively in the past fiscal year. Revenue growth ahead of the market and a significantly higher operating result highlight our profitable growth path. We also have enough equity and sufficient liquidity reserves to ensure that KROMI Logistik continues to report stable growth.”
Jörg Schubert adds: “Last year’s positive business progress forms the basis for good growth at KROMI in the future. We are successively aligning our spectrum of products and services to the Industry 4.0 area, so that as a data manager in production we can further optimise our customers’ value chains. We have also further bolstered the Group Executive Committee of KROMI Logistik to consistently exploit future growth opportunities. We see ourselves as currently being very well positioned for a successful future.” The Group Executive Committee is the central management body of KROMI Logistik. Its task is to discuss, prepare and implement strategic decisions to enable the company to successfully achieve sustainable growth.
Over the course of the day, KROMI Logistik will make its full report for the 2016/2017 fiscal year available for downloading from its at www.kromi.de within the Investor Relations area.
KROMI Logistik AG offers companies in the manufacturing sector at home and abroad end-to-end outsourcing to supply them with precision machining tools (“tool management”). The focus is on technically sophisticated machining tools (tools subject to wear and tool holders, e.g. drills) for processing metal and plastic. KROMI Logistik combines the traditional tool trade with local supply through fully automated tool dispensing in customers’ manufacturing areas, and an IT-based tool management and controlling system. The aim of KROMI Logistik’s business activities is to optimize the supply of operating materials to its customers, particularly tools, on a lasting basis, and to ensure that the right equipment is available in the right place at the right time. The company currently has a presence in four locations in Germany and four abroad (Slovakia, the Czech Republic, Spain and Brazil), as well as operating in six other European countries. KROMI Logistik has so far focused primarily on customers in the sectors of general mechanical engineering, automotive suppliers, aerospace and marine engine construction.
On the internet at: www.kromi.de
Contact for Investor Relations:
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66