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SMT Scharf AG: Revenue and earnings in 2020 significantly impacted by coronavirus and one-off effects - Seite 2

Hans Joachim Theiss, CEO of SMT Scharf AG, comments on the current business situation: "Given the pandemic, demand in the global mining equipment market is expected to be further negatively affected in 2021. We anticipate growth drivers this year to derive especially from the Chinese market. We currently expect final approval for the China III machines to be granted in the first half of the year. We are maintaining an ongoing dialogue with the Chinese authorities to this end. In light of our high order book position, we consequently anticipate corresponding catch-up effects in the Chinese market over the course of the year."

The complete report for the 2020 fiscal year will be published on March 31, 2021, in the Investor Relations area of www.smtscharf.de.

Company profile
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. Its 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. Such systems are required in order to transport material and personnel with payloads of up to 48 tonnes and on gradients of up to 30 degrees. SMT Scharf also supplies the mining sector with chairlifts. Since 2018, SMT Scharf's diverse portfolio has also included rubber-wheeled 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 is active with subsidiaries in eight countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa.

Contact
Investor Relations
cometis AG
Thorben Burbach
Phone: [phone]
Fax: [phone]
Email: [e-mail]

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01.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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