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15.05.2024 07:30:51 - dpa-AFX: EQS-News: SMT Scharf AG publishes results for the first quarter of 2024 (english)
SMT Scharf AG publishes results for the first quarter of 2024
EQS-News: SMT Scharf AG / Key word(s): Quarter Results
SMT Scharf AG publishes results for the first quarter of 2024
15.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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SMT Scharf AG publishes results for the first quarter of 2024
* Consolidated revenues of EUR 12.5 million in Q1 2024
* Operating earnings (EBIT) at EUR -1.0 million
* Managing Board confirms revenue and earnings forecast for 2024
Hamm, 15 May 2024 - SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), one of
the world's leading suppliers of bespoke transport solutions and logistics
systems for underground mining, is today publishing its figures for the
first quarter of 2024. In the first three months of the 2024 financial year,
the SMT Scharf Group generated consolidated revenues of EUR 12.5 million.
This equates to a slight decline of 2.3 % by comparison with the same
quarter in the previous year (Q1/2023: EUR 12.8 million). At the start of
the year, SMT Scharf noticed a higher level of activity overall in the
relevant mining markets. This was also felt in new systems business which
grew again in the first quarter of 2024 and made a decisive contribution to
sales revenues.
Earnings from operating activities (EBIT) in the first quarter of 2024
amounted to EUR -1.0 million (Q1/2023: EUR -1.1 million). This was due to
higher personnel costs and increased costs from the use of external
services. In the first three months of 2024, however, lower net currency
losses and gains totaling EUR 416 thousand had a positive effect on the
consolidated result. Accordingly, the EBIT margin (in relation to total
operating revenue) stood at -6.8 % in the reporting period by comparison
with -5.5 % in the same period in the previous year.
"The SMT Scharf Group has made a sound start to the 2024 financial year. As
a leading provider of monorails, we see SMT Scharf as well positioned to
benefit from the mega trends in mining on a lasting, sustained foundation
going forward. There were clear signs in the first quarter, particularly in
China, that mine operators were once again investing more heavily in modern
mining equipment. New, high-tech coal mines continue to be opened there that
have high requirements for innovative, low exhaust gas transportation and
logistics solutions for underground coal-mining. Overall, we were able to
record renewed growth in the new systems business in the first three months
of 2024. We want to build on this progress in the course of the year",
states Volker Weiss, CFO of SMT Scharf AG.
In its New systems business, SMT Scharf lifted its revenues in the first
three months of 2024 to EUR 4.7 million following EUR 4.2 million in the
first quarter of the previous year. Revenues in the Service business also
climbed to EUR 1.5 million (Q1/2023: EUR 1.1 million) while revenues from
Spare parts declined year on year to EUR 6.3 million (Q1/2023: EUR 7.1
million).
With a look to its core international markets, SMT Scharf succeeded in once
again boosting revenues year on year in the sales market of Poland in the
first three months of 2024, posting a figure of EUR 3.6 million (Q1/2023:
EUR 3.3 million). Consequently, Poland and China proved to be the sales
markets with the strongest revenues in the first quarter of 2024, each with
a 28.9 % share of total revenue. SMT Scharf also achieved revenue growth in
China year on year, generating EUR 3.6 million (Q1/2023: EUR 3.1 million).
Revenues in Russia, by contrast, failed to match the same period in the
previous year, coming in at EUR 2.2 million (Q1/2023: EUR 2.9 million).
Furthermore, SMT Scharf generated revenue of EUR 1.3 million in Africa in
the first quarter of 2024 (Q1/2023: EUR 1.7 million), EUR 0.2 million in
Africa (Q1/ 2023: EUR 0.6 million) and EUR 0.9 million in Germany (Q1/ 2023:
EUR 0.6 million).
Broken down by segment, the largest share of revenue continued to flow from
the Coal mining segment with an 85 % share (Q1/2023: 77 %) while the Mineral
mining segment with a 12 % share of consolidated revenues in the reporting
period declined year on year (Q1/2023: 19 %). The "Other industries" segment
contributed 3 % of consolidated revenues (Q1/2023: 4 %). The Tunnel
logistics segment did not contribute any revenues as yet in the first
quarter of 2024, similar to the previous year.
Reinhard Reinartz, CEO and COO of SMT Scharf AG, explains: "It was very
pleasing to note that our activities in the Tunnel logistics segment and
therefore the targeted diversification of the business into areas outside
coal-mining are bearing fruit and boosting revenues in this segment. For
example, we have won a significant infrastructure project in the Middle East
from a new customer in the low double-digit euro millions, representing one
of the largest in the company's history. We were also able to win an order
for three battery-driven rail systems as part of the major project to
construct Berlin's 380 kV diagonal power link."
Thanks to the major orders won in the Tunnel logistics segment, the order
intake in the first quarter of 2024 of EUR 41.7 million significantly
exceeded the figure for the previous year of EUR 16.8 million. Accordingly,
as of the reporting date of 31 March 2024, the order book stood at EUR 51.9
million (31 March 2023: EUR 26.9 million).
With regard to the 2024 financial year, the Managing Board of SMT Scharf AG
is reiterating its forecast and expects consolidated revenue of between EUR
74 million and EUR 79 million, based on conservative estimates. In addition,
the Managing Board continues to expect operating earnings (EBIT) of between
EUR 1.5 million and EUR 2.5 million in 2024.
The full report for the first quarter of 2024 will be published today in the
course of the day 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. Further information about the SMT Scharf Group can be
found online at www.smtscharf.com.
Contact
Investor Relations
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de
---------------------------------------------------------------------------
15.05.2024 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
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1903019 15.05.2024 CET/CEST
EQS-News: SMT Scharf AG / Key word(s): Quarter Results
SMT Scharf AG publishes results for the first quarter of 2024
15.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
SMT Scharf AG publishes results for the first quarter of 2024
* Consolidated revenues of EUR 12.5 million in Q1 2024
* Operating earnings (EBIT) at EUR -1.0 million
* Orders won in the Tunnel logistics segment create exceptionally high
order book position, providing tailwind for the current financial year
* Managing Board confirms revenue and earnings forecast for 2024
Hamm, 15 May 2024 - SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), one of
the world's leading suppliers of bespoke transport solutions and logistics
systems for underground mining, is today publishing its figures for the
first quarter of 2024. In the first three months of the 2024 financial year,
the SMT Scharf Group generated consolidated revenues of EUR 12.5 million.
This equates to a slight decline of 2.3 % by comparison with the same
quarter in the previous year (Q1/2023: EUR 12.8 million). At the start of
the year, SMT Scharf noticed a higher level of activity overall in the
relevant mining markets. This was also felt in new systems business which
grew again in the first quarter of 2024 and made a decisive contribution to
sales revenues.
Earnings from operating activities (EBIT) in the first quarter of 2024
amounted to EUR -1.0 million (Q1/2023: EUR -1.1 million). This was due to
higher personnel costs and increased costs from the use of external
services. In the first three months of 2024, however, lower net currency
losses and gains totaling EUR 416 thousand had a positive effect on the
consolidated result. Accordingly, the EBIT margin (in relation to total
operating revenue) stood at -6.8 % in the reporting period by comparison
with -5.5 % in the same period in the previous year.
"The SMT Scharf Group has made a sound start to the 2024 financial year. As
a leading provider of monorails, we see SMT Scharf as well positioned to
benefit from the mega trends in mining on a lasting, sustained foundation
going forward. There were clear signs in the first quarter, particularly in
China, that mine operators were once again investing more heavily in modern
mining equipment. New, high-tech coal mines continue to be opened there that
have high requirements for innovative, low exhaust gas transportation and
logistics solutions for underground coal-mining. Overall, we were able to
record renewed growth in the new systems business in the first three months
of 2024. We want to build on this progress in the course of the year",
states Volker Weiss, CFO of SMT Scharf AG.
In its New systems business, SMT Scharf lifted its revenues in the first
three months of 2024 to EUR 4.7 million following EUR 4.2 million in the
first quarter of the previous year. Revenues in the Service business also
climbed to EUR 1.5 million (Q1/2023: EUR 1.1 million) while revenues from
Spare parts declined year on year to EUR 6.3 million (Q1/2023: EUR 7.1
million).
With a look to its core international markets, SMT Scharf succeeded in once
again boosting revenues year on year in the sales market of Poland in the
first three months of 2024, posting a figure of EUR 3.6 million (Q1/2023:
EUR 3.3 million). Consequently, Poland and China proved to be the sales
markets with the strongest revenues in the first quarter of 2024, each with
a 28.9 % share of total revenue. SMT Scharf also achieved revenue growth in
China year on year, generating EUR 3.6 million (Q1/2023: EUR 3.1 million).
Revenues in Russia, by contrast, failed to match the same period in the
previous year, coming in at EUR 2.2 million (Q1/2023: EUR 2.9 million).
Furthermore, SMT Scharf generated revenue of EUR 1.3 million in Africa in
the first quarter of 2024 (Q1/2023: EUR 1.7 million), EUR 0.2 million in
Africa (Q1/ 2023: EUR 0.6 million) and EUR 0.9 million in Germany (Q1/ 2023:
EUR 0.6 million).
Broken down by segment, the largest share of revenue continued to flow from
the Coal mining segment with an 85 % share (Q1/2023: 77 %) while the Mineral
mining segment with a 12 % share of consolidated revenues in the reporting
period declined year on year (Q1/2023: 19 %). The "Other industries" segment
contributed 3 % of consolidated revenues (Q1/2023: 4 %). The Tunnel
logistics segment did not contribute any revenues as yet in the first
quarter of 2024, similar to the previous year.
Reinhard Reinartz, CEO and COO of SMT Scharf AG, explains: "It was very
pleasing to note that our activities in the Tunnel logistics segment and
therefore the targeted diversification of the business into areas outside
coal-mining are bearing fruit and boosting revenues in this segment. For
example, we have won a significant infrastructure project in the Middle East
from a new customer in the low double-digit euro millions, representing one
of the largest in the company's history. We were also able to win an order
for three battery-driven rail systems as part of the major project to
construct Berlin's 380 kV diagonal power link."
Thanks to the major orders won in the Tunnel logistics segment, the order
intake in the first quarter of 2024 of EUR 41.7 million significantly
exceeded the figure for the previous year of EUR 16.8 million. Accordingly,
as of the reporting date of 31 March 2024, the order book stood at EUR 51.9
million (31 March 2023: EUR 26.9 million).
With regard to the 2024 financial year, the Managing Board of SMT Scharf AG
is reiterating its forecast and expects consolidated revenue of between EUR
74 million and EUR 79 million, based on conservative estimates. In addition,
the Managing Board continues to expect operating earnings (EBIT) of between
EUR 1.5 million and EUR 2.5 million in 2024.
The full report for the first quarter of 2024 will be published today in the
course of the day 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. Further information about the SMT Scharf Group can be
found online at www.smtscharf.com.
Contact
Investor Relations
cometis AG
Thorben Burbach
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de
---------------------------------------------------------------------------
15.05.2024 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: 1903019
End of News EQS News Service
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1903019 15.05.2024 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 | 6,500 |
