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SMT Scharf AG makes solid start to FY 2021

DGAP-News: SMT Scharf AG / Key word(s): Quarter Results SMT Scharf AG makes solid start to FY 2021 12.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement. SMT Scharf AG makes solid start to FY 2021

• Consolidated revenue for the first three months of 2021 at EUR 10.8 million
• Operating profit (EBIT) rises to EUR 2.0 million
• High order book position of EUR 48.3 million reflects delayed order invoicing (IAS 18)
• Relocation to larger production facility in South Africa completed for regional product manufacturing and production of underground electric vehicles
• Positive outlook for 2021: Impetus expected from final China III approval

Hamm, May 12, 2021 - SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the world's leading suppliers of customised transport solutions and logistics systems for underground mining, has made a solid start to the 2021 fiscal year, recording slight growth in consolidated revenue of 1.5 % to EUR 10.8 million in the first quarter of 2021 (Q1 2020: EUR 10.7 million). At the same time, the result from operating activities (EBIT) rose to EUR 2.0 million (Q1 / 2020: EUR -2.1 million). Firstly, the revenue growth reflects economic effects on SMT Scharf's business activities due to the politically ordered restrictions to contain the coronavirus pandemic. Secondly, the approval of China III machines in the Chinese market has been further delayed, as expected. For this reason, the first machines delivered to Chinese mining companies could not yet be recognised as revenue in accordance with IAS 18.

The CEO of SMT Scharf AG, Hans Joachim Theiss, comments on the business trend in the first quarter of 2021: "After an exceptional 2020 with major disruptions to our Group, we are off to a good start in fiscal 2021. Activity in SMT Scharf's international mining markets continued to be restrained, although commodity prices such as for coal and industrial metals showed a clear uptrend. It was pleasing to see growth in our profitable after-sales business and a return to positive results compared to previous quarters."