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KROMI raises revenue and earnings forecast for fiscal year 2020/2021

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DGAP-News: KROMI Logistik AG / Key word(s): Change in Forecast
22.04.2021 / 16:01
The issuer is solely responsible for the content of this announcement.

KROMI raises revenue and earnings forecast for fiscal year 2020/2021

- Revenue growth of 8%-10% in 2020/2021 despite challenging environment due to Corona pandemic

- Positive operating result in the mid six-digit EUR range expected

- Positive business development with existing and new customers in Europe and Brazil

- Cost and working capital optimization measures show sustained effect

Hamburg, 22 April 2021 - Following a better-than-expected first half of 2020/2021, KROMI Logistik AG continued its positive performance in the third quarter of a challenging fiscal year due to the Corona pandemic. Accordingly, the company is raising its revenue and earnings forecast for the fiscal year 2020/2021.

Based on current information, the Management Board expects revenues to increase by 8% to 10% compared to the previous fiscal year (previous year: EUR 69.4 million). This development is also expected to lead to an improved operating result in the mid six-digit EUR range. This outlook is subject to the continuing uncertainties with regard to the Corona pandemic.

"The business situation has increasingly improved in the first six months of the current fiscal year and the high level of interest in our end-to-end tool management solutions remained unchanged in the third quarter. Accordingly, business with new and existing customers in Europe and Brazil developed positively despite the continuing difficult environment," says Bernd Paulini, CEO. Christian Auth, CFO adds: "The steps implemented to reduce costs and optimize working capital are also showing an effect during the growth phase and will have a lasting impact."

In the third quarter, KROMI signed agreements with two existing customers from Germany and Brazil to expand tool management to two additional European countries. In the first half of the fiscal year, contracts with an international key account were extended indefinitely for four European locations, and two new contracts were signed in Brazil.

Previously, KROMI forecasted revenues at the previous year's level and a balanced operating result.


Company profile:

KROMI, Hamburg, is a manufacturer-independent specialist for optimizing tool availability and tool use, in particular for technically demanding cutting tools for metal and plastics processing in machining operations. As a trustworthy and transparent partner to the manufacturing industry, KROMI combines machining technology, data management, lean logistics processes and tool trading to create convincing overall solutions. By means of networked automatic tool dispensers in the customer's production area with simultaneous digital inventory controlling, KROMI ensures the optimum use and availability of the necessary operating resources at the right time and in the right place. The aim of KROMI's activities is to always offer machining companies the highest customer benefits. For this purpose, the processes on the customer side are continuously analyzed in detail, opportunities and potential for improvement are identified and thus the tool supply with all the necessary services is optimally integrated. KROMI currently has facilities in Germany, Slovakia, the Czech Republic, Spain and Brazil. In addition, KROMI is also active in seven other European countries. On the Internet at: www.kromi.de


Contact Investor Relations:
cometis AG
Claudius Krause
Tel.: +49 (0)611-205855-28
Fax: +49 (0)611-205855-66
E-Mail: krause@cometis.de


22.04.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

KROMI Logistik AG

Tarpenring 11

22419 Hamburg

Germany

Phone:

040/537151-0

Fax:

040/537151-99

E-mail:

info@kromi.de

Internet:

www.kromi.de

ISIN:

DE000A0KFUJ5

WKN:

A0KFUJ

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart

EQS News ID:

1187802


 

End of News

DGAP News Service

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