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DGAP-News: KROMI Logistik AG / Key word(s): Annual Report
KROMI publishes 2020/2021 annual report
- Revenue up 10 % year-on-year driven by growth both in Germany and abroad
- Improved, positive result from operations (EBIT) despite challenging environment
- Operating cash flow clearly positive again at EUR 4.8 million
- Guidance for 2021/2022: Revenue growth of around 10 % and EBIT growth in excess of 10 %
Hamburg, September 30, 2021 - The past fiscal year proved to be more positive than KROMI Logistik AG originally expected, within a market environment that continued to be challenged by the coronavirus pandemic, as the company notes on the occasion of today's publication of its annual report for the 2020/2021 fiscal year (July 1, 2020 to June 30, 2021). With revenue growth of 10.0 % to EUR 76.4 million (previous year: EUR 69.4 million) and a significantly improved, positive result from operations (EBIT) of EUR 0.7 million (previous year: EUR 0.1 million), the guidance for the financial year, which was raised in April 2021, was reached.
After some of KROMI's customers reduced their production levels as part of the initial lockdown - and in some cases drastically - a significant recovery already occurred in the first half of the past fiscal year, especially in the automotive supply and general engineering sectors. This recovery also exerted an increasingly positive impact on KROMI's business during the rest of the fiscal year. After revenue of EUR 35.2 million in the first half of 2020/2021, KROMI achieved revenue of EUR 41.2 million in the second half of the fiscal year.
At EUR 38.6 million, domestic revenue was up around 12.1 % on the previous year's level of EUR 34.4 million. In the rest of Europe, revenue rose by 8.8 %, from EUR 27.2 million in the previous year to EUR 29.6 million in the 2020/2021 fiscal year. Revenue in Brazil also performed well and amounted to EUR 8.3 million as of the end of the past fiscal year (previous year: EUR 7.9 million).
Following EBIT of EUR 0.2 million in the first half of 2020/2021, KROMI further grew its result from operations in the second half of the year to record EBIT of EUR 0.5 million. Overall, this leads to an increase in EBIT of EUR 0.6 million year-on-year to EUR 0.7 million for the 2020/2021 fiscal year. Despite the significant expansion of business, the level of working capital rose only slightly to EUR 18.4 million as of year-end (previous year: EUR 18.1 million) thanks to the optimization measures the company implemented. The equity ratio of 51.2 %, compared with 52.1 % in the previous year, underpins the solid balance sheet.
The positive trends in the past fiscal year make CEO Bernd Paulini fundamentally optimistic about KROMI's future. "The 2020/2021 fiscal year showed that we are on the right track. Our performance also reflects the continuing great interest on the part of the market in our professional and manufacturer-independent tool management. The task now is to build on the progress we have achieved to date and consistently continue KROMI's further development and growth," notes Paulini.
Assuming an increasing macroeconomic recovery with positive drivers in the company's target industries, as well as trouble-free operations without far-reaching coronavirus measures and supply chain interruptions, the Managing Board currently anticipates growth to continue in the 2021/2022 fiscal year, and expects revenue growth of around 10% accompanied by an a year-on-year increase in profit from operations at a rate in excess of 10 %.
Over the course of the day, KROMI will make its full IFRS report available for downloading on its website at www.kromi.de within the Investor Relations area.
Investor relations contact:
30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
KROMI Logistik AG
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
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