SMT Scharf AG Reports Financial Performance for 2023 and Provides Outlook for 2024

SMT Scharf AG, a key global player in providing customized transport solutions and logistics systems for underground mining, announced its financial results for the fiscal year 2023, registering a consolidated revenue of EUR 73.2 million. The company experienced a significant upswing in its spare parts and service business, which helped offset a pronounced decrease in the new systems business. Despite the revenue decline compared to the previous year, the company remains optimistic about the future.

The operating result (EBIT) for the year stood at EUR 4.0 million with an EBIT margin of 4.9%. This performance reflects not only a decline in sales revenue but also the impact of goodwill impairment due to delays in launching electric commercial vehicles. However, a positive investment income of EUR 4.6 million somewhat cushioned the overall financial outcome. The majority of the revenue hailed from the coal mining segment, which suffered due to a global reluctance from mine operators to invest in new systems.

Regionally, China remained SMT Scharf’s largest market despite a decrease in revenue, while significant growth was observed in Poland, driven by the country's energy policy adjustments. Looking ahead, the company anticipates consolidated revenue to range between EUR 74 million and EUR 79 million for 2024, with an expected operating profit of EUR 1.5 million to EUR 2.5 million. This outlook is based on conservative assumptions, acknowledging ongoing market challenges while also recognizing potential growth opportunities, particularly in the Chinese market.