{"id":37974,"date":"2021-03-31T07:35:24","date_gmt":"2021-03-31T05:35:24","guid":{"rendered":"https:\/\/wordpress-783423-2671269.cloudwaysapps.com\/?p=37974"},"modified":"2025-02-06T14:22:46","modified_gmt":"2025-02-06T13:22:46","slug":"smt-scharf-ag-publishes-annual-report-for-fy-2020","status":"publish","type":"post","link":"https:\/\/www.cometis.de\/en\/smt-scharf-ag-publishes-annual-report-for-fy-2020\/","title":{"rendered":"March 31, 2021 | SMT Scharf AG publishes annual report for FY 2020"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"37974\" class=\"elementor elementor-37974 elementor-37964\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33bf1618 e-flex e-con-boxed e-con e-parent\" data-id=\"33bf1618\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2cdae8fd elementor-widget elementor-widget-text-editor\" data-id=\"2cdae8fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<style> .zur\u00fcckbutton:before {display: inline-block; font-family: \"ETmodules\"; content: \"4a\"; color: #00225f; margin-right: 7px;} .zur\u00fcckbutton:hover:before {display: inline-block; font-family: \"ETmodules\"; content: \"4a\"; color: #d85710; margin-right: 7px;}<\/style>\n<h1>Corporate News<\/h1>\n<p><a class=\"zur\u00fcckbutton\" href=\"https:\/\/www.cometis.de\/en\/veroeffentlichungsarchiv-smt-scharf\">back to the archive<\/a><\/p>\n<h1 style=\"text-align: left;\"><strong><\/strong><\/h1>\n<p>&nbsp;<\/p>\n<h1 style=\"text-align: left;\"><strong> SMT Scharf AG publishes annual report for FY 2020<\/strong><br> <\/h1>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Consolidated revenue of EUR 50.2 million in 2020 well below previous year<\/strong><\/li>\n<li><strong style=\"font-size: 16px;\">Operating result (EBIT) negative at EUR -8.1 million after impairment charges and&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<\/strong><strong style=\"font-size: 16px;\">delayed China-III approval<\/strong><\/li>\n<li><strong style=\"font-size: 16px;\">Positive impetus expected from final China-III approval in H1 2021<\/strong><\/li>\n<li><strong style=\"font-size: 16px;\">Guidance for FY 2021: Consolidated revenue of EUR 65 million to EUR 70 million,<br>EBIT in the range EUR 2.5 million to EUR 3.0 million<\/strong><strong style=\"font-size: 16px;\"><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Hamm, March 31, 2021 \u2013 SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the<br>world\u2019s leading suppliers of customised transport solutions and logistics systems for<br>underground mining, reports revenue of EUR 50.2 million for the 2020 fiscal year (2019:<br>EUR 75.4 million). The 33.4 % decrease in revenue primarily reflected government-imposed<br>restrictions in connection with the coronavirus pandemic and associated economic effects for<br>SMT Scharf\u2019s business activities worldwide. Moreover, the approval of China-III machines in<br>the Chinese market was delayed, so that the first machines delivered to Chinese mining<br>companies could not yet be recognised as revenue in accordance with IAS 18. This significant<br>impact on business activities was also evident in the final quarter of 2020. Group revenue<br>reached EUR 13.3 million in this period, 48.3 % lower than in the prior-year quarter (Q4 \/ 2019:<br>EUR 25.7 million).<\/p>\n<p>&nbsp;<\/p>\n<p>The operating result (EBIT) reflected a loss amounting to EUR -8.1 million (2019:<br>EUR 6.8 million). This change is mainly due to the impairment charges of EUR 6.6 million<br>recognised in the third quarter. As part of the business policy realignment of the Canadian<br>subsidiary RDH Mining Equipment Ltd., assets were classified as partially impaired in value.<br>This revaluation led to an impairment charge of some EUR 5.1 million. In addition, impairment<br>charges of EUR 1.5 million were applied in relation to internally generated intangible assets for<br>a total of three development projects. Furthermore, due to the still outstanding China-III<br>approval of machines delivered to Chinese mining companies, they could not yet be<br>recognised as revenue in accordance with IAS 18. This also had a negative effect on the<br>earnings trend. Accordingly, the EBIT margin (in relation to total operating revenue) was<br>negative at -14.4 % (2019: 9.1 %). Earnings per share amounted to EUR -1.79 (2019:<br>EUR 1.20).<\/p>\n<p>The CEO of SMT Scharf AG, Hans Joachim Theiss, puts the 2020 business trend into context:<br>\u201cBusiness trends last year were significantly impacted by the economic effects of the<br>coronavirus pandemic, which considerably affected our business with both new equipment and<br>after-sales. This was unique in this form in our company\u2019s long history. Our sites in China,<br>Canada, Russia and South Africa were temporarily closed. As we enter 2021, the<br>consequences deriving from the pandemic continue to hamper our operations in international<br>mining markets.\u201d<\/p>\n<p>Given the coronavirus pandemic and reduced investment propensity in the global mining<br>equipment market, the revenue share in the new equipment business decreased year-on-year<br>to 44.8 % to stand below the 50 percent level (2019: 52.3 %). Spare parts and service business<br>accounted for 53.6 % of total revenue, significantly higher year-on-year (2019: 47.8 %). In<br>addition, the remaining share of revenue is attributable to other revenues from the rental of<br>machinery. SMT Scharf continues to generate the largest share of its consolidated revenue in<br>the Coal segment. Here, the company generated revenue of EUR 39.7 million in 2020, which<br>corresponds to a share of 79.1 % (2019: 80.4 % or EUR 60.6 million). The share of revenue<br>generated by the Mineral mining segment (formerly the Non-Coal mining segment) increased<br>in relative terms to 16.7 %, or EUR 8.4 million (2019: 15.9 % or EUR 12.0 million).<br>The SMT Scharf Group continued to generate most of its revenues abroad, amounting to 95 %<br>in 2020 (2019: 97 %). In this context, China underscored its continued significant role as the<br>most important market with a revenue share of 32.7 %, equivalent to EUR 16.4 million (2019:<br>41.5 % or EUR 31.3 million). New growth impetus is likely to come from the new China-III<br>regulation, which will be mandatory from 2021, and will require underground mining fleets to<br>be refitted. Russia (CIS) continues as an important target market with a 29.7 % revenue share,<br>or EUR 14.9 million (2019: 20.6 % or EUR 15.5 million). Revenue in Germany increased to<br>EUR 2.6 million or 5.2 % (2019: 2.5 % or EUR 3.3 million). A key reason for this is the revenue<br>contribution from ser elektronik, which was newly acquired in 2019.<\/p>\n<p>In the year under review, the SMT Scharf Group\u2019s new order intake amounted to<br>EUR 61.9 million (2019: EUR 80.6 million), while the order book position stood at<br>EUR 36.6 million as of December 31, 2020 (December 31, 2019: EUR 24.9 million). The high<br>order book position reflects delayed order processing given the coronavirus pandemic as well<br>as the pending final approval of the China-III machines by the Chinese regulator.<br>For the 2021 fiscal year, the Managing Board of SMT Scharf AG anticipates, on the basis of<br>conservative assumptions, consolidated revenue in a range between EUR 65 million and<br>EUR 70 million, and EBIT in a range between EUR 2.5 million and EUR 3.0 million. This<br>forecast is based on the premise that no further significant restrictions will be imposed due to<br>the coronavirus pandemic.<\/p>\n<p>\u201cSMT Scharf continues to navigate difficult waters in 2021. Nonetheless, we will continue to<br>work on the important strategic issues in order to leverage the next upturn in mining after the<br>coronavirus crisis, and to return to the profitable growth of the years before coronavirus. The<br>final approval of the China-III machines, which is expected soon, will give our business a<br>positive boost. And further new growth opportunities are opening up in the area of underground<br>electric vehicles. For example, we are currently developing and producing electric-powered<br>loaders and medium-duty underground trucks as prototypes for Polymetal International, with<br>which we entered into a strategic partnership in 2020. Electric drives are on the advance \u2013<br>including in underground mining. This offers attractive potential for us and the opportunity to<br>move into new application areas outside mining with our transport solutions.\u201d<\/p>\n<p><span style=\"font-size: 16px;\">&nbsp;<\/span><\/p>\n<p><strong>Company profile<\/strong><\/p>\n<p><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">The SMT Scharf Group develops, manufactures and services transportation equipment for<\/span><\/p><p>underground mining as well as for tunnel construction. Its main products include captivated<br>railway systems that are deployed worldwide, primarily in hard coal mines, as well as in mines<br>for gold, platinum and other metals. Such systems are required in order to transport material<br>and personnel with payloads of up to 48 tonnes and on gradients of up to 30 degrees. In<br>addition, SMT Scharf supplies the mining sector with chairlifts. Since 2018, SMT Scharf\u2019s<br>diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and<br>tunnelling, including loaders, scissor lifts and underground trucks. As part of the further<br>diversification of the business, the product range has been successfully expanded since 2019<br>to include electronic components and control systems for mining and other industries. Overall,<br>the SMT Scharf Group is active with subsidiaries in eight countries, as well as commercial<br>agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign<br>markets such as China, Russia, Poland and South Africa.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Contact<\/strong><\/p>\n<p><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align);\">Investor Relations<\/span><\/p><p> cometis AG<br> Thorben Burbach<br> Tel: +49(0)611 &#8211; 205855-23<br> Fax: +49(0)611 &#8211; 205855-66<br> E-Mail: burbach@cometis.de<\/p>\n<p>&nbsp;<\/p>\n<div class=\"leseprobe-archiv\"><a title=\"Article as PDF\" href=\"https:\/\/www.cometis.de\/wp-content\/uploads\/2021\/03\/210331_SMT-Scharf_CN_Final-Figures-2020.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Article as PDF<\/a><\/div>\n<style> .leseprobe-archiv {color: #00225f !important; border-color: #00225f; position: relative; padding: 0.3em 1em; border: 1px solid; -webkit-border-radius: 3px; -moz-border-radius: 3px; border-radius: 3px; -webkit-transition: all 0.2s; -moz-transition: all 0.2s; transition: all 0.2s; padding:10px; width: 19%; text-align: center; margin-right: 10px; float:left;} .leseprobe-archiv:hover {background-color: #eee; border-color: #ffffff; cursor: pointer;}<\/style>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Corporate News back to the archive &nbsp; SMT Scharf AG publishes annual report for FY 2020 &nbsp; Consolidated revenue of EUR 50.2 million in 2020 well below previous year Operating result (EBIT) negative at EUR -8.1 million after impairment charges and&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":98872,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[90,217,212],"tags":[288],"class_list":["post-37974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","category-smt-scharf-ag-corporate-news-en","category-uncategorized","tag-2021-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.4) - 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