DGAP-News
HMS Bergbau AG releases half-yearly figures
DGAP-News: HMS Bergbau AG / Key word(s): Half Year Results
HMS Bergbau AG releases half-yearly figures
30.09.2014 / 11:00
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Corporate News from 30 September 2014
HMS Bergbau AG releases half-yearly figures
- Group revenues of EUR 69.1 million (previous year: EUR 42.7 million)
- Consolidated net earnings of EUR 0.5 million (previous year: EUR -1.6
million)
Berlin, 30 September 2014: HMS Bergbau AG, an international coal supplier
with operating expertise in coal mining, transport and trade, has published
its results for the first half of 2014.
After utilising 2013 to continue to consolidate its position on the
international coal market, the company is successfully pursuing its growth
strategy in 2014.
In terms of the future business development, the takeover of Polish company
Śląski Węgiel Żory - Suszec Sp. Z.o.o. in February 2014 was an important
milestone. The company has exploration licenses for two regions located in
Silesia which have existing coal reserves of well over 1 billion tonnes and
offer huge mining potential for long-term coking coal and steam coal
production. Access to the high-volume and high-quality resources will
strengthen HMS Bergbau AG's position on the European market and also in the
coking coal market overseas. It also allows us to act more independently
from other procurement channels.
The key financial figures for the first half of 2014 have improved
significantly compared to the previous year. Revenues increased by EUR 26.4
million, from EUR 42.7 million to EUR 69.1 million. This corresponds to a
61.8% increase. Earnings from current operating activities increased by EUR
2.1 million, from EUR -1.5 million to EUR 0.6 million. Net profit for the
period also increased considerably, from EUR -1.6 million in the previous
year to EUR 0.5 million as at 30 June 2014. With total assets of EUR 18.7
million (31 December 2013: EUR 15.5 million), the equity ratio remains
almost unchanged at 17.6% (31 December 2013: 17.5%). Cash and cash
equivalents increased by EUR 1.9 million to EUR 5.4 million as at the
balance sheet date compared to 31 December 2013.
Given the current market position and the prospects provided by the
exploration in Poland, the long-term marketing agreement in Africa as well
as rising Revenues in Southeast Asia, we continue to anticipate growth in
revenues in the next two financial years plus a slight improvement in
margins thanks to the further vertical integration of trading business.
For 2014 we continue to forecast positive EBITDA and a positive result for
the year.
The 2014 interim report of HMS Bergbau AG can be downloaded from the
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