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    S4A   DE0005751986


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

SMT Scharf : receives final approval for China III machines and notes positive effects for business growth in 2021

09/30/2021 | 08:43am EST

DGAP-News: SMT Scharf AG / Key word(s): Change in Forecast
SMT Scharf AG receives final approval for China III machines and notes positive effects for business growth in 2021

30.09.2021 / 14:42
The issuer is solely responsible for the content of this announcement.

SMT Scharf AG receives final approval for China III machines and notes positive effects for business growth in 2021

  • Subsequent recognition of a total of around EUR 12.8 million of revenue and of around EUR 4.2 million of EBIT in Q3 2021
  • Further positive revenue and earnings effects expected in Q4 2021 due to subsequent revenue recognition
  • FY 2021 guidance raised again: consolidated revenue now in the range of EUR 75 million to EUR 80 million and EBIT in the range of EUR 9 million to EUR 11 million

Hamm, September 30, 2021 - SMT Scharf AG (WKN 575198, ISIN DE0005751986) announces that it has received final approval for China III machines from China's "MA" regulator. Given this, significant subsequent recognition of around EUR 12.8 million in revenue and of around EUR 4.2 million in profit from operating activities (EBIT) can now be made on the basis of deliveries the Group has already made. These items will have a corresponding positive impact on the interim financial statements for the third quarter of 2021. In addition, further subsequent entries are expected in the fourth quarter of 2021 following the contractually required customer confirmations, which are also expected to lie in the low double-digit range in millions of euros in relation to revenue, and in the low single-digit range in millions of euros in relation to EBIT. On the basis of IFRS 15, the company had not yet been able to recognise such revenues from new systems in China in its financial statements.

Hans Joachim Theiss, CEO of SMT Scharf AG, notes: "Now that machines constructed according to the new China III standard have been approved, we have significantly improved the prerequisites for further growth. The new regulations have been mandatory for Chinese mining companies since the start of 2021, so we currently see attractive growth potential in the Chinese market and will continue to do so in future years. In addition, we expect high coal prices and the Chinese government's new five-year plan to have a positive impact on our business there. We already increased our revenue in China by around 23 % to EUR 8.1 million in the first half of the year. The subsequent entries implemented in connection with the China III approval are now providing a further boost to growth."

In light of these positive effects from the China III approval and the associated improved growth prospects for the final quarter, the Managing Board is raising its revenue and earnings guidance for the 2021 fiscal year, and now expects consolidated revenue for 2021 in the range between EUR 75 million and EUR 80 million. Furthermore, the Managing Board now forecasts 2021 EBIT in a range between EUR 9 million and EUR 11 million. Previously, for the 2021 fiscal year SMT Scharf anticipated consolidated revenue in a range between EUR 72 million and EUR 77 million, and EBIT in a range between EUR 5 million and EUR 6 million.

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.

Investor Relations
cometis AG
Thorben Burbach
Phone: +49 (0) 611 - 205855-23
Fax: +49 (0) 611 - 205855-66
Email: burbach@cometis.de

30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: SMT Scharf AG
Römerstrasse 104
59075 Hamm
Phone: +49 2381 960-01
Fax: +49 2381 960-311
E-mail: info@smtscharf.com
Internet: www.smtscharf.com
ISIN: DE0005751986
WKN: 575198
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Tradegate Exchange
EQS News ID: 1237176

End of News DGAP News Service

1237176  30.09.2021 


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Sales 2021 80,5 M 90,9 M 90,9 M
Net income 2021 7,50 M 8,47 M 8,47 M
Net Debt 2021 13,3 M 15,0 M 15,0 M
P/E ratio 2021 10,3x
Yield 2021 -
Capitalization 70,9 M 80,0 M 80,0 M
EV / Sales 2021 1,05x
EV / Sales 2022 0,95x
Nbr of Employees 420
Free-Float 59,0%
Duration : Period :
SMT Scharf AG Technical Analysis Chart | S4A | DE0005751986 | MarketScreener
Technical analysis trends SMT SCHARF AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 12,95 €
Average target price 18,00 €
Spread / Average Target 39,0%
EPS Revisions
Managers and Directors
Hans Joachim Thei▀ Chairman-Management Board & CEO
Louis Velthuis Chairman-Supervisory Board
Wolfgang Embert Chief Operating Officer
Dirk Vorsteher Deputy Chairman-Supervisory Board
Dorothea Gattineau Member-Supervisory Board