SMT Sharf: Significant approval from shareholders at AGM of SMT Scharf AG
Hamm, May 23, 2018 – SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the worldwide leading providers of underground transportation solutions and logistics systems, has today successfully held its Ordinary Annual General Meeting (AGM) 2018 at the Werkstatthalle in the Maximilianpark Hamm. The presence of the represented share capital amounted to approx. 43%. All agenda items were approved.
As part of the AGM, the Managing Board reported on detail on the operative and strategic development of SMT Scharf AG in the 2017 fiscal year. This was significantly affected by the company’s market expansion strategy in an improved market environment. The consistent implementation of the corporate strategy bore fruit and led to considerable revenue and earnings growth in the fiscal year elapsed. SMT Scharf reported marked consolidated revenue growth of 22.6% to EUR 52.1 million in the year under review (2016: EUR 42.6 million). At the same time, the operating result (EBIT) was up by 84.2% to EUR 4.5 million (2016: EUR 2.5 million). A significant majority of the AGM discharged the Managing and Supervisory boards for the 2017 fiscal year. Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne branch, was appointed as the auditor for the 2018 fiscal year.
The Managing Board also provided an overview of the first months of 2018. With the founding of the second sales-oriented joint venture in China and takeover of Canadian mining specialist RDH Mining Equipment preparations were made in early 2018 for further growth. Hans Joachim Theiss, CEO of SMT Scharf AG, comments: “Especially the acquisition of RDH will deliver important drivers for our business thanks to the expanded product portfolio, which now includes rubber-tyred vehicles. The integration of RDH is running to plan, so that the company will be included in the scope of consolidation as of the second quarter of 2018.”
The detailed voting results on the respective agenda items will be published soon on the website at www.smtscharf.de within the investor relations area.
The SMT Scharf Group develops, builds and maintains transport equipment for underground mines as well as for tunnel construction sites. The main product consists of rail-bound railway systems which are used primarily in coal mines and for the underground mining of gold, platinum and other ores. There they transport men and material up to a payload of 48 tons on routes with inclines of up to 30 degrees. SMT Scharf also supplies chairlifts to the mining industry. In addition, the company offers rubber-wheeled diesel and electric vehicles for mining and tunnelling applications through the newly acquired mining specialists RDH Mining Equipment. As a leading supplier of battery-driven vehicles with lithium-ion technology for underground mining, RDH complements SMT Scharf’s portfolio with its diverse product range stretching from loaders and scissor lifts to underground trucks. Overall, the SMT Scharf Group has its own companies in eight countries as well as distributors around the world. SMT Scharf generates most of its sales in growth markets abroad such as China, Russia, Poland and South Africa. SMT Scharf AG has been listed in the Prime Standard (Regulated Market) on the Frankfurt Stock Exchange since 2007.
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