SMT Scharf AG
SMT Scharf AG achieves revenue and earnings growth in first nine months of 2019, despite China effect
DGAP-News: SMT Scharf AG
/ Key word(s): 9 Month figures
SMT Scharf AG achieves revenue and earnings growth in first nine months of 2019, despite China effect
Hamm, November 13, 2019 – SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the world’s leading suppliers of customised transport solutions and logistics systems for underground mining, continued its positive business performance during the first nine months of the 2019 fiscal year. SMT Scharf grew its consolidated revenue by 5.6 % to EUR 49.7 million (9M/2018: EUR 47.1 million). Revenue in the new equipment business was at the previous year’s level, while SMT Scharf improved its revenue in its high-margin service business by 9.9 % to EUR 28.8 million (9M/2018: EUR 26.2 million). In addition, the company generated a profit from operating activities (EBIT) of EUR 4.2 million in the first nine months of 2019, thereby increasing its profitability compared with the same period of the previous year (EUR 9M/2018: EUR 3.6 million). Consolidated net income rose to EUR 4.4 million in the reporting period (9M/2018: EUR 3.8 million). Hans Joachim Theiss, CEO of SMT Scharf AG, comments: “We achieved revenue and earnings growth in the first nine months of 2019, and performed well overall against the weakening global economy. However, the new regulatory framework in China had an impact on our business in the third quarter, with machines for underground use having to comply with more stringent regulations there with immediate effect. This will continue to hamper our business in China for the time being.” Despite the current slowdown in momentum, China remained the strongest market for SMT Scharf at EUR 19.2 million (9M/2018: EUR 15.8 million). With the consolidation of the market in China having completed, Chinese mine operators will invest further in innovative transport logistics. At EUR 10.7 million, revenue in the important foreign market of Russia was slightly below the previous year’s level, as expected. SMT Scharf has meanwhile gained ground in Poland, where revenue rose to EUR 7.7 million (2018: EUR 6.6 million). In the first nine months of 2019, the SMT Scharf Group’s new order intake amounted to EUR 46.3 million (9M/2018: EUR 48.8 million). The order book position stood at EUR 16.3 million as of September 30, 2019. “We will press further ahead with the implementation of our corporate strategy and – based on our strong market position – consistently leverage growth opportunities in our target markets worldwide. The approval issue in China will weigh on the Chinese market in both the final quarter and the first half of 2020. At the same time, we assume that corresponding catch-up effects will take effect from the second half of 2020 onwards,” notes Theiss. Given this, the Managing Board now anticipates consolidated revenue of between EUR 65 million and EUR 67 million for the 2019 fiscal year, and EBIT in a range between EUR 4.5 million and EUR 5.0 million. The complete report for the third quarter of 2019 will be published during the course of today within the Investor Relations area of www.smtscharf.de.
13.11.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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: | DE0005751986 |
WKN: | 575198 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 910903 |
End of News | DGAP News Service |