KROMI Logistik AG

  • WKN: A0KFUJ
  • ISIN: DE000A0KFUJ5
  • Land: Deutschland

Nachricht vom 08.11.2018 | 17:13

KROMI publishes corrected statement on the first quarter of FY 2018/2019

DGAP-News: KROMI Logistik AG / Key word(s): Quarterly / Interim Statement

08.11.2018 / 17:13
The issuer is solely responsible for the content of this announcement.


KROMI publishes corrected statement on the first quarter of FY 2018/2019

- Revenues in the amount of EUR 17,570 thousand achieved

- Operating result (EBIT) burdened with special effects at EUR -1,275 thousand

- Operating result (EBIT before special effects) at EUR -360 thousand

Hamburg, November 8, 2018 - KROMI, a manufacturer-independent expert in optimising tool availability and tool deployment in machining operations, generated revenue of EUR 17,570 thousand in the 2018/2019 fiscal year (previous year: EUR 19,162 thousand). The result from operations (EBIT) amounted to EUR -1,275 thousand (previous year: EUR 627 thousand).

Revenue development in the first quarter of 2018/2019 varied considerably from region to region. While KROMI continued to report a marked decrease in revenue in Germany due to the discontinuation of a contract with a major customer, foreign business performed well, and partly offset the reduced revenue in Germany. Revenue in Germany reduced by 22.8 percent from EUR 11,342 thousand in the previous year to EUR 8,756 thousand, reflecting the aforementioned ending of a contract with a major customer, which had still made a significant contribution to prior-year revenue. The operating business outside Germany performed well with an overall increase of 12.7 percent, with revenue in European countries outside Germany registering a 16.2 percent year-on-year increase to EUR 7,003 thousand (EUR 6,026 thousand). In Brazil, revenue in terms of the Brazilian currency, the real, amounted to BRL 8,408 thousand, representing 26.2 percent growth compared with the previous year (BRL 6,663 thousand). Due to the weak real, this development in euros failed to contribute to better Group results. Revenue grew from EUR 1,794 thousand in the previous year to EUR 1,811 thousand.

CEO Bernd Paulini comments: "Although by acquiring new customers as well as expanding the activities for existing customers we have already offset around 50 percent of the reduction in revenue from the discontinued contract, total revenue was nevertheless down significantly compared with the previous year's level. Our operating result - in other words, EBIT adjusted to reflect non-operating effects - amounted to EUR -360 thousand. In order to more efficiently leverage the future potentials of our markets and our business model, we are realigning our product strategy and introducing significant structural measures to secure growth as well as to establish a significantly improved cost structure. We are convinced that the new product strategy will lead to expanded market penetration. The result is additionally burdened by a provision of EUR 650 thousand, which had to be formed in connection with the departure of a member of the Management Board on March 31, 2019."

With the competency areas of Tools, Technology, Logistics and Data, KROMI will offer a spectrum of top technical performance, maximum availability and comprehensive transparency. In future customers can select the service portfolio that suits them best and offers them the highest benefit. After overcoming the currently difficult situation, due to the unique competences in machining processes and the business expertise to the customers' needs, the Management Board considers KROMI optimally positioned to meet the forthcoming challenges, and looks to the future with optimism.

Over the course of the day, KROMI will make the full and corrected (IFRS) report for the first three months of its 2018/2019 fiscal year available for downloading on its website at www.kromi.de within the Investor Relations area.

Company profile:
KROMI, Hamburg, is a manufacturer-independent expert in optimising tool availability and tool deployment in machining operations. As a reliable and transparent partner to industry, KROMI combines machining technology, data management and streamlined logistics processes to form compelling all-round solutions. Thanks to networked dispensers in customers' production areas in combination with digital inventory controlling, KROMI ensures the optimal utilisation and availability of the requisite working resources at the right time and in the right place. The activities of KROMI aim to always offer maximum value for customers' machining operations in its core markets of Europe and Brazil. This entails analysing processes on the customer side in detail and identifying opportunities and potential improvements, in order to optimally integrate tool supplies with all requisite services. KROMI currently has sites in Germany, Slovakia, the Czech Republic, Spain and Brazil. KROMI is also active in five further European countries.

Visit us on the Internet at: www.kromi.de

Investor relations contact:
cometis AG
Claudius Krause
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66
Email: krause@cometis.de



08.11.2018 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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