DGAP-News

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

DGAP-News: KROMI Logistik AG / Key word(s): Change in Forecast KROMI raises revenue and earnings forecast for fiscal year 2020/2021 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.