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10.04.2024 07:30:27 - dpa-AFX: EQS-News: SMT Scharf AG releases final figures for the 2023 financial year (english)
SMT Scharf AG releases final figures for the 2023 financial year
EQS-News: SMT Scharf AG / Key word(s): Annual Report
SMT Scharf AG releases final figures for the 2023 financial year
10.04.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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SMT Scharf AG releases final figures for the 2023 financial year
* Consolidated revenue of EUR 73.2 million in 2023
* Operating result (EBIT) at EUR 4.0 million, EBIT margin of 4.9 %
Hamm, 10 April 2024 - SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), a
leading global provider of bespoke transport solutions and logistics systems
for underground mining, recorded revenue of EUR 73.2 million in the 2023
financial year (2022: EUR 93.7 million). The spare parts business (+22.5 %)
and service business (+20.8 %) posted significant growth while new business
(-48.1 %) in 2023 reported a marked decline. The decline in revenues
compared with the previous year is primarily due to mine operators'
reluctance to invest in new systems as well as to the postponement of
project revenues until 2024.
Volker Weiss, CFO of SMT Scharf AG, commented as follows on the performance
of the business in 2023: "We registered strong demand for spare parts and
services in our core markets as mining customers focused on servicing and
maintaining their fleets. This led to strong revenue growth in this segment.
Besides continuing our sales activities in our important core markets around
the world, we concentrated on further optimising our processes within the
SMT Scharf Group. Our initiatives here were aimed at driving our own product
development, making collaboration within the Group more efficient and
counteracting general cost increases."
The result from operating activities (EBIT) amounted to EUR 4.0 million in
the 2023 financial year after an EBIT of EUR 14.3 million had been achieved
in the previous year. Besides the year-on-year decline in sales revenue
which was in line with expectations, one of the main reasons for this
decline was the impairment of goodwill caused by the delay in bringing
electric commercial vehicles to market. On the other hand, investment income
of EUR 4.6 million made a positive contribution which surpassed operating
earnings by around EUR 0.6 million. Accordingly, the EBIT margin (in
relation to total operating revenue) fell to 4.9 % (2022: 14.9 %). Earnings
per share amounted to EUR 0.89 (2022: EUR 2.75).
With a revenue contribution of EUR 60.1 million in the reporting year, the
Coal mining segment contributed the largest share of SMT Scharf's
consolidated revenues, with a figure of 82 % (2022: EUR 76.2 million or 81
%). Sales revenues in the coal segment fell by 21.1 % which reflected
sluggish demand for new systems in important sales markets. Mineral mining
generated the second largest share of consolidated sales revenue with EUR
8.8 million or 12 % (2022: EUR 12.4 million or 13 %), thus posting a
year-on-year decline of 29.1 %. The Tunnel Logistics business recorded
revenues of EUR 1.0 million, contributing 1 % of consolidated revenue (2022:
EUR 2.9 million or 3 %). Nevertheless, SMT Scharf takes an optimistic view
of further growth in the Tunnel Logistics segment given the tunnel orders
already won in the Middle East and Germany in 2024. In the fourth segment,
Other Industries, which represents the business of the subsidiary ser
elektronik, revenue grew by 47.8 % to EUR 3.3 million in 2023 (5 % share of
consolidated revenue) (2022: EUR 2.2 million or 3 %).
With respect to the distribution of revenues by region, China remained the
most important sales market for SMT Scharf. Here sales revenue of EUR 26.6
million was generated, making up 36 % of consolidated revenue (2022: EUR
43.4 million or 46 %). The second largest share of consolidated revenue was
achieved in Poland with EUR 17.0 million or 23 % (2022: EUR 9.5 million or
10 %) as a result of which this EU country has gained in importance for SMT
Scharf. The strong growth in sales revenue there of 78.9 % was driven by the
Polish government's energy policy which is aiming to diversify the energy
supply. In Russia, sales revenue of EUR 12.1 million was generated, making
up 17 % of consolidated revenue (2022: EUR 20.6 million or 22 %). In the
region of Africa where South Africa, in particular, represents an important
country for sales, SMT Scharf recorded revenue of EUR 6.6 million or 9 % of
consolidated revenue (2022: EUR 9.9 million or 11 %). Furthermore, SMT
Scharf succeeded in boosting revenue in Germany by a significant 75.9 % to
EUR 5.1 million (7 % of consolidated revenue), following EUR 2.9 million or
a revenue share of 3 % in the previous year.
The order intake in the reporting year of 2023 totalled EUR 72.9 million
(2022: EUR 89.7 million). As of the reporting date of 31 December 2023, the
SMT Scharf Group's order book stood at EUR 22.6 million (31 December 2022:
EUR 22.9 million).
Reinhard Reinartz, CEO of SMT Scharf, views the current year with optimism:
"We expect the challenging environment in the market for mining equipment to
persist in 2024. Nevertheless, we continue to see attractive growth
opportunities for our company. For example, there is high demand for
innovative, low emission transport and logistics solutions in the Chinese
market thanks to the creation of new, high-tech mines. In this context, we
welcome the fact that a strategic investor in the shape of Yankuang Energy
Group which has strong roots in the local market and is able to leverage
extensive synergy effects, intends to acquire a majority interest in SMT
Scharf AG."
For the 2024 financial year, based on conservative assumptions, the Managing
Board of SMT Scharf AG is expecting consolidated revenue between EUR 74
million and EUR 79 million. Additionally, the Managing Board is expecting a
profit from operating activities (EBIT) of between EUR 1.5 million and EUR
2.5 million.
The full 2023 annual report will be published in the course of today at
www.smtscharf.com in the Investor Relations section.
Company profile
The SMT Scharf Group develops, manufactures and services transportation
equipment for underground mining as well as for tunnel construction. The
main products include captivated railway systems that are deployed
worldwide, primarily in hard coal mines, as well as in mines for gold,
platinum and other metals. They are needed to transport material and
personnel with payloads of up to 48 tonnes and on routes with gradients of
up to 30 degrees. In addition, SMT Scharf supplies the mining sector with
chairlifts. Since 2018, SMT Scharf's diverse portfolio has also included
rubber-tyred diesel and electric vehicles for mining and tunnelling,
including loaders, scissor lifts and underground trucks. As part of the
further diversification of the business, the product range has been
successfully expanded since 2019 to include electronic components and
control systems for mining and other industries. Overall, the SMT Scharf
Group is active with subsidiaries in seven countries, as well as commercial
agencies worldwide.
Contact
Investor Relations
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de
---------------------------------------------------------------------------
10.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1876857 10.04.2024 CET/CEST
EQS-News: SMT Scharf AG / Key word(s): Annual Report
SMT Scharf AG releases final figures for the 2023 financial year
10.04.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
SMT Scharf AG releases final figures for the 2023 financial year
* Consolidated revenue of EUR 73.2 million in 2023
* Operating result (EBIT) at EUR 4.0 million, EBIT margin of 4.9 %
* Significant revenue growth in spare parts and service business offset by
noticeable decline in new systems business
* Forecast for 2024: Based on conservative assumptions, consolidated
revenue expected to be between EUR 74 million and EUR 79 million with
EBIT between EUR 1.5 million and EUR 2.5 million
Hamm, 10 April 2024 - SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), a
leading global provider of bespoke transport solutions and logistics systems
for underground mining, recorded revenue of EUR 73.2 million in the 2023
financial year (2022: EUR 93.7 million). The spare parts business (+22.5 %)
and service business (+20.8 %) posted significant growth while new business
(-48.1 %) in 2023 reported a marked decline. The decline in revenues
compared with the previous year is primarily due to mine operators'
reluctance to invest in new systems as well as to the postponement of
project revenues until 2024.
Volker Weiss, CFO of SMT Scharf AG, commented as follows on the performance
of the business in 2023: "We registered strong demand for spare parts and
services in our core markets as mining customers focused on servicing and
maintaining their fleets. This led to strong revenue growth in this segment.
Besides continuing our sales activities in our important core markets around
the world, we concentrated on further optimising our processes within the
SMT Scharf Group. Our initiatives here were aimed at driving our own product
development, making collaboration within the Group more efficient and
counteracting general cost increases."
The result from operating activities (EBIT) amounted to EUR 4.0 million in
the 2023 financial year after an EBIT of EUR 14.3 million had been achieved
in the previous year. Besides the year-on-year decline in sales revenue
which was in line with expectations, one of the main reasons for this
decline was the impairment of goodwill caused by the delay in bringing
electric commercial vehicles to market. On the other hand, investment income
of EUR 4.6 million made a positive contribution which surpassed operating
earnings by around EUR 0.6 million. Accordingly, the EBIT margin (in
relation to total operating revenue) fell to 4.9 % (2022: 14.9 %). Earnings
per share amounted to EUR 0.89 (2022: EUR 2.75).
With a revenue contribution of EUR 60.1 million in the reporting year, the
Coal mining segment contributed the largest share of SMT Scharf's
consolidated revenues, with a figure of 82 % (2022: EUR 76.2 million or 81
%). Sales revenues in the coal segment fell by 21.1 % which reflected
sluggish demand for new systems in important sales markets. Mineral mining
generated the second largest share of consolidated sales revenue with EUR
8.8 million or 12 % (2022: EUR 12.4 million or 13 %), thus posting a
year-on-year decline of 29.1 %. The Tunnel Logistics business recorded
revenues of EUR 1.0 million, contributing 1 % of consolidated revenue (2022:
EUR 2.9 million or 3 %). Nevertheless, SMT Scharf takes an optimistic view
of further growth in the Tunnel Logistics segment given the tunnel orders
already won in the Middle East and Germany in 2024. In the fourth segment,
Other Industries, which represents the business of the subsidiary ser
elektronik, revenue grew by 47.8 % to EUR 3.3 million in 2023 (5 % share of
consolidated revenue) (2022: EUR 2.2 million or 3 %).
With respect to the distribution of revenues by region, China remained the
most important sales market for SMT Scharf. Here sales revenue of EUR 26.6
million was generated, making up 36 % of consolidated revenue (2022: EUR
43.4 million or 46 %). The second largest share of consolidated revenue was
achieved in Poland with EUR 17.0 million or 23 % (2022: EUR 9.5 million or
10 %) as a result of which this EU country has gained in importance for SMT
Scharf. The strong growth in sales revenue there of 78.9 % was driven by the
Polish government's energy policy which is aiming to diversify the energy
supply. In Russia, sales revenue of EUR 12.1 million was generated, making
up 17 % of consolidated revenue (2022: EUR 20.6 million or 22 %). In the
region of Africa where South Africa, in particular, represents an important
country for sales, SMT Scharf recorded revenue of EUR 6.6 million or 9 % of
consolidated revenue (2022: EUR 9.9 million or 11 %). Furthermore, SMT
Scharf succeeded in boosting revenue in Germany by a significant 75.9 % to
EUR 5.1 million (7 % of consolidated revenue), following EUR 2.9 million or
a revenue share of 3 % in the previous year.
The order intake in the reporting year of 2023 totalled EUR 72.9 million
(2022: EUR 89.7 million). As of the reporting date of 31 December 2023, the
SMT Scharf Group's order book stood at EUR 22.6 million (31 December 2022:
EUR 22.9 million).
Reinhard Reinartz, CEO of SMT Scharf, views the current year with optimism:
"We expect the challenging environment in the market for mining equipment to
persist in 2024. Nevertheless, we continue to see attractive growth
opportunities for our company. For example, there is high demand for
innovative, low emission transport and logistics solutions in the Chinese
market thanks to the creation of new, high-tech mines. In this context, we
welcome the fact that a strategic investor in the shape of Yankuang Energy
Group which has strong roots in the local market and is able to leverage
extensive synergy effects, intends to acquire a majority interest in SMT
Scharf AG."
For the 2024 financial year, based on conservative assumptions, the Managing
Board of SMT Scharf AG is expecting consolidated revenue between EUR 74
million and EUR 79 million. Additionally, the Managing Board is expecting a
profit from operating activities (EBIT) of between EUR 1.5 million and EUR
2.5 million.
The full 2023 annual report will be published in the course of today at
www.smtscharf.com in the Investor Relations section.
Company profile
The SMT Scharf Group develops, manufactures and services transportation
equipment for underground mining as well as for tunnel construction. The
main products include captivated railway systems that are deployed
worldwide, primarily in hard coal mines, as well as in mines for gold,
platinum and other metals. They are needed to transport material and
personnel with payloads of up to 48 tonnes and on routes with gradients of
up to 30 degrees. In addition, SMT Scharf supplies the mining sector with
chairlifts. Since 2018, SMT Scharf's diverse portfolio has also included
rubber-tyred diesel and electric vehicles for mining and tunnelling,
including loaders, scissor lifts and underground trucks. As part of the
further diversification of the business, the product range has been
successfully expanded since 2019 to include electronic components and
control systems for mining and other industries. Overall, the SMT Scharf
Group is active with subsidiaries in seven countries, as well as commercial
agencies worldwide.
Contact
Investor Relations
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de
---------------------------------------------------------------------------
10.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: SMT Scharf AG
Römerstrasse 104
59075 Hamm
Germany
Phone: +49 2381 960-01
Fax: +49 2381 960-311
E-mail: info@smtscharf.com
Internet: www.smtscharf.com
ISIN: DE000A3DRAE2
WKN: A3DRAE
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt, Hamburg, Hanover, Munich (m:access),
Stuttgart, Tradegate Exchange
EQS News ID: 1876857
End of News EQS News Service
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1876857 10.04.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
SMT SCHARF AG NA O.N. | A3DRAE | Frankfurt | 6,500 | 03.06.24 08:09:09 | -0,300 | -4,41% | 0,000 | 0,000 | 6,500 | 6,800 |
