EQS-News

SMT Scharf AG releases final figures for the 2023 financial year - Seite 2

The result from operating activities (EBIT) amounted to EUR 4.0 million in the 2023 financial year after an EBIT of EUR 14.3 million had been achieved in the previous year. Besides the year-on-year decline in sales revenue which was in line with expectations, one of the main reasons for this decline was the impairment of goodwill caused by the delay in bringing electric commercial vehicles to market. On the other hand, investment income of EUR 4.6 million made a positive contribution which surpassed operating earnings by around EUR 0.6 million. Accordingly, the EBIT margin (in relation to total operating revenue) fell to 4.9 % (2022: 14.9 %). Earnings per share amounted to EUR 0.89 (2022: EUR 2.75).

With a revenue contribution of EUR 60.1 million in the reporting year, the Coal mining segment contributed the largest share of SMT Scharf’s consolidated revenues, with a figure of 82 % (2022: EUR 76.2 million or 81 %). Sales revenues in the coal segment fell by 21.1 % which reflected sluggish demand for new systems in important sales markets. Mineral mining generated the second largest share of consolidated sales revenue with EUR 8.8 million or 12 % (2022: EUR 12.4 million or 13 %), thus posting a year-on-year decline of 29.1 %. The Tunnel Logistics business recorded revenues of EUR 1.0 million, contributing 1 % of consolidated revenue (2022: EUR 2.9 million or 3 %). Nevertheless, SMT Scharf takes an optimistic view of further growth in the Tunnel Logistics segment given the tunnel orders already won in the Middle East and Germany in 2024. In the fourth segment, Other Industries, which represents the business of the subsidiary ser elektronik, revenue grew by 47.8 % to EUR 3.3 million in 2023 (5 % share of consolidated revenue) (2022: EUR 2.2 million or 3 %).       

With respect to the distribution of revenues by region, China remained the most important sales market for SMT Scharf. Here sales revenue of EUR 26.6 million was generated, making up 36 % of consolidated revenue (2022: EUR 43.4 million or 46 %). The second largest share of consolidated revenue was achieved in Poland with EUR 17.0 million or 23 % (2022: EUR 9.5 million or 10 %) as a result of which this EU country has gained in importance for SMT Scharf. The strong growth in sales revenue there of 78.9 % was driven by the Polish government’s energy policy which is aiming to diversify the energy supply. In Russia, sales revenue of EUR 12.1 million was generated, making up 17 % of consolidated revenue (2022: EUR 20.6 million or 22 %). In the region of Africa where South Africa, in particular, represents an important country for sales, SMT Scharf recorded revenue of EUR 6.6 million or 9 % of consolidated revenue (2022: EUR 9.9 million or 11 %). Furthermore, SMT Scharf succeeded in boosting revenue in Germany by a significant 75.9 % to EUR 5.1 million (7 % of consolidated revenue), following EUR 2.9 million or a revenue share of 3 % in the previous year.