EQS-News: SMT Scharf AG publishes final figures for financial year 2024

SMT Scharf AG publishes final figures for financial year 2024 

• Consolidated revenue boosted to EUR 95.0 million in 2024
• Operating earnings (EBIT) at EUR 4.8 million, EBIT margin of 4.7%
• Significant revenue growth in new equipment business and in the spare parts and service business due to first-time full consolidation of Xinsha  
• Tunnel Logistics segment grows appreciably, driving the diversification of the business
• Outlook for 2025: Consolidated revenue expected between EUR 110 million and EUR 130 million with EBIT between EUR 5.5 million and EUR 7.5 million

Hamm, 27 March 2025 – SMT Scharf AG (WKN A3DRAE; ISIN DE000A3DRAE2), one of the world’s leading suppliers of bespoke transport solutions and logistics systems for underground mining, achieved consolidated revenue of EUR 95.0 million (2023: EUR 73.2 million) in financial year 2024 according to the final figures now in. New equipment business increased significantly by 55.2 % to EUR 45.0 million in 2024 (2023: EUR 29.0 million). Sales revenue in the spare parts and service business was also up appreciably to EUR 49.9 million (2023: EUR 44.1 million). The rise in consolidated revenue was essentially down to the fact that joint venture partner Shandong Xinsha Monorail Co., Ltd. (“Xinsha”) was fully consolidated for the first time as from November 2024.

Volker Weiss, CFO of SMT Scharf AG, commented on the business performance in 2024 as follows: “In 2024, we focused on driving through our strategic measures in mining markets around the world. It was particularly gratifying to achieve double-digit revenue growth in the Tunnel Logistics segment, thereby successfully diversifying our business into areas outside of coal. The first-time full consolidation of joint venture partner Xinsha as from November already had a considerable influence on revenue and earnings growth in 2024, and it will continue to have a positive effect in the current year.”

Operating earnings (EBIT) increased to EUR 4.8 million in the financial year 2024 after coming in at EUR 4.0 million in the previous year. First and foremost, the first-time full consolidation of Xinsha led to this significant boost to earnings which prompted appreciable revenue growth, especially in the new equipment business and the China region. The EBIT margin (in relation to total operating revenue) fell slightly to 4.7% (2023: 4.9%). Earnings per share amounted to EUR 1.02 (2023: EUR 0.89).

Viewed by segment, coal mining continued to enjoy the largest share of SMT Scharf’s consolidated revenue with 75.8% (2023: 82.1%). Revenue in this segment jumped 19.8% year on year in the reporting period, climbing to EUR 72.0 million (2023: EUR 60.1 million). The coal segment’s lower share of the business by comparison with the previous year primarily reflected the rise in revenue from the Tunnel segment which furthered the diversification of the business. In the Tunnel segment, SMT Scharf succeeded in hiking sales revenue to EUR 10.5 million compared with EUR 1.0 million in the previous year. Consequently, the Tunnel segment’s share of total revenue increased to 11.1% in 2024 (2023: 1.4%) The main reason for the revenue increase in the Tunnel segment was a major order for a tunnel project in the Middle East. Mineral mining achieved an 10.6% share of consolidated revenue (2023: 12.0%) Revenue in this segment increased by 15.1% to EUR 10.1 million (2023: EUR 8.8 million). In the fourth segment, Other Industries, which reflects the business of the subsidiary ser elektronik, revenue fell, on the other hand, by 27.6% to EUR 2.4 million in 2024, down from EUR 3.3 million in the previous year. The share of consolidated revenue fell accordingly from 4.5% to 2.5%.

With regard to the distribution of revenue by region, China remained SMT Scharf’s most important sales market as it was in 2023, and even succeeded in significantly increasing its share of total revenue. For example, revenue in China climbed to EUR 43.9 million, bringing it to 46.2% of consolidated revenue (2023: EUR 26.6 million or 36.4%). In addition, SMT Scharf in Poland generated revenue of EUR 12.9 million which corresponds to a year-on-year 24.1% drop in revenue (2023: EUR 17.0 million). Poland’s share of consolidated revenue fell accordingly from 23.2% in 2023 to 13.6% in the reporting period. In Russia, SMT Scharf achieved revenues of EUR 12.9 million in 2024 (2023: EUR 12.1 million). This region therefore accounted for 13.6% of consolidated revenue (2023: 16.5%) In the Africa region where South Africa, in particular, represents an important sales market, SMT Scharf posted revenue of EUR 7.7 million or 8.1% of consolidated revenue (2023: EUR 6.6 million or 9.0%). Furthermore, SMT Scharf in Germany generated revenue of EUR 3.2 million, making up a 3.4% share of consolidated revenue (2023: EUR 5.1 million or 7.0%).

The order intake in the 2024 reporting year totalled EUR 103.9 million (2023: EUR 72.9 million). As of the reporting date of 31 December 2024, the SMT Scharf Group’s order book stood at EUR 31.5 million (31 December 2023: EUR 22.6 million).

Liu Jun, CEO of SMT Scharf, takes an optimistic view of the current year. “We are focusing on expanding our business activities in mining markets worldwide. To do so, we will continue to align our portfolio with customers’ needs and address the trends in the market for mining equipment. The development of emission-free, sustainable transport equipment is also an important topic for the traditional mining market. Here we can already offer battery-powered monorails. In markets such as China, we continue to see attractive growth opportunities for SMT Scharf as the new, high-tech mines emerging there require modern mining technology. Equally, we also intend to focus more keenly on business potential outside of coal mining.“

In view of the fact that Xinsha will be fully consolidated for the entire period of the 2025 financial year for the first time, SMT Scharf AG’s Managing Board is expecting consolidated revenue of between EUR 110 million and EUR 130 million for the 2025 financial year. In addition, the Managing Board is expecting operating earnings (EBIT) in a range between EUR 5.5 million and EUR 7.5 million.

The full annual report for 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 35 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 operates its own subsidiaries in seven countries and has agents around the world. Further information about the SMT Scharf Group can be found online at www.smtscharf.com. 
Contact

Investor Relations
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Thorben Burbach
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-mail: burbach@cometis.de