EQS-News: KROMI publishes 2021/2022 annual report

KROMI publishes 2021/2022 annual report 

• Revenues climb 5.3 % to EUR 80.5 million in spite of tough market environment
• Significant increase in earnings before interest and taxes (EBIT)
• Operating cash flow at EUR 3.3 million thanks to strict working capital management
• Forecast for 2022/2023: Further revenue increase in the low to mid-single-digit percentage range and EBIT to rise disproportionately faster

Hamburg, 30 September 2022 KROMI Logistik AG today publishes its report for the 2021/2022 financial year. The forecast, adjusted in the spring, was met at the upper end of the range with the result that at the end of the financial year, revenues had risen by 5.3 % to EUR 80.5 million (previous year: EUR 76.4 million) and EBIT was positive at EUR 1.2 million (previous year: EUR 0.7 million). 

The sectors and target markets in which KROMI operates presented a very mixed picture in the past financial year. Thanks to the general economic recovery after the coronavirus crisis, KROMI started the 2021/2022 fiscal year optimistically and targeted revenue growth of 10 %. However, all of KROMI's target industries suffered from the worsening global supply chain problems in the second half of 2021. The automotive industry, in particular, also had to struggle a massive shortage of semiconductors. The uncertainty caused by the Russia-Ukraine war finally forced KROMI to adjust its revenue forecast in the third quarter of the financial year, now expecting a revenue increase in the low to mid-single-digit percentage range. This expectation was met at the upper end of the range with the revenue growth achieved in 2021/2022. In addition, the unchanged forecast of a marked increase in EBIT was also met with EUR 1.2 million compared with EUR 0.7 million in the previous year. 

Both, operating activities in Europe and Brazil, contributed to the revenue increase in 2021/2022. In Europe, revenues increased by 2.4 % to a total of EUR 69.7 million (previous year: EUR 68.1 million). Of this, EUR 37.6 million was generated in Germany and EUR 32.1 million in other European countries. Revenue growth was particularly strong in the Brazilian market, increasing by 17.9 % in local currency. Revenues in Brazil in absolute numbers thus amounted to EUR 10.7 million (previous year: EUR 8.3 million). This revenue growth is primarily due to expanding business with existing customers although five new, prestigious, global customers will offer KROMI attractive opportunities for growth in the future not only in Brazil but also in Europe. 

Bernd Paulini, CEO at KROMI commented as follows: The 2021/2022 financial year was marked by uncertainty for our customers. Also in these exceptional times, however, our tool management guarantees smooth production processes. This reliability is not only appreciated by our existing customers but was also the decisive factor in winning new customers in our core markets.

Besides KROMIs professional tool management, the companys engineering services also prompted much interest, especially in Germany. With these offerings, KROMI is meeting rising demand in manufacturing industry for support in optimizing machining processes. For example, KROMI was able to convince one of the worlds leading automobile manufacturers, a global mechanical engineering group as well as SME customers of this expertise and has already secured follow-up orders. 

In view of the current sustained demand, KROMI is planning to expand its business relationships with existing customers. At the same time, the company is engaged in numerous promising discussions with potential new customers in Germany and abroad. In particular, efforts to win new customers in the area of engineering services are to be further intensified by extending the offer to all KROMIs locations.

Assuming there is no worsening of the geopolitical crises, no renewed restrictions as a result of the coronavirus pandemic or further disruptions to supply chains with a correspondingly negative impact on KROMI's target industries, the Managing Board is forecasting revenue growth in the low to mid-single-digit percentage range, and a disproportionately high improvement in (EBIT) by comparison with revenues in fiscal year 2022/2023.

In the course of the day, KROMI will make the full annual report available for download on the website www.kromi.de in the Investor Relations section.

Company profile:

KROMI, Hamburg, is a manufacturer-independent specialist in optimizing tool availability and tool deployment, especially technologically advanced machining tools for metal and plastics processing in machining operations. As a trustworthy and transparent partner to manufacturing industry, KROMI combines machining technology, data management, streamlined logistics processes and tools wholesaling to form compelling all-round solutions. Thanks to interconnected tool dispensers in customers' production areas in combination with digital inventory controlling, KROMI ensures the optimal utilization and availability of the requisite working resources at the right time and in the right place. KROMI's activities aim to always offer maximum benefits for customers' machining operations. This entails continuously analyzing in detail processes on the customer side 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 seven further European countries. Visit us online at: www.kromi.de

Investor relations contact:

cometis AG