DGAP-News SMT Scharf AG publishes annual report for FY 2020 - Seite 2
The CEO of SMT Scharf AG, Hans Joachim Theiss, puts the 2020 business trend into context: "Business trends last year were significantly impacted by the economic effects of the coronavirus pandemic, which considerably affected our business with both new equipment and after-sales. This was unique in this form in our company's long history. Our sites in China, Canada, Russia and South Africa were temporarily closed. As we enter 2021, the consequences deriving from the pandemic continue to hamper our operations in international mining markets."
Given the coronavirus pandemic and reduced investment propensity in the global mining equipment market, the revenue share in the new equipment business decreased year-on-year to 44.8 % to stand below the 50 percent level (2019: 52.3 %). Spare parts and service business accounted for 53.6 % of total revenue, significantly higher year-on-year (2019: 47.8 %). In addition, the remaining share of revenue is attributable to other revenues from the rental of machinery. SMT Scharf continues to generate the largest share of its consolidated revenue in the Coal segment. Here, the company generated revenue of EUR 39.7 million in 2020, which corresponds to a share of 79.1 % (2019: 80.4 % or EUR 60.6 million). The share of revenue generated by the Mineral mining segment (formerly the Non-Coal mining segment) increased in relative terms to 16.7 %, or EUR 8.4 million (2019: 15.9 % or EUR 12.0 million).
The SMT Scharf Group continued to generate most of its revenues abroad, amounting to 95 % in 2020 (2019: 97 %). In this context, China underscored its continued significant role as the most important market with a revenue share of 32.7 %, equivalent to EUR 16.4 million (2019: 41.5 % or EUR 31.3 million). New growth impetus is likely to come from the new China-III regulation, which will be mandatory from 2021, and will require underground mining fleets to be refitted. Russia (CIS) continues as an important target market with a 29.7 % revenue share, or EUR 14.9 million (2019: 20.6 % or EUR 15.5 million). Revenue in Germany increased to EUR 2.6 million or 5.2 % (2019: 2.5 % or EUR 3.3 million). A key reason for this is the revenue contribution from ser elektronik, which was newly acquired in 2019.
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