HMS Bergbau AG releases half-yearly figures
▲ Group revenues of EUR 69.1 million (previous year: EUR 42.7 million)
▲ Consolidated net earnings of EUR 0.5 million (previous year: EUR ‑1.6 million)
Berlin, 30. September 2014: HMS Bergbau AG, an international coal supplier with operating expertise in coal mining, transport and trade, has published its results for the first half of 2014.
After utilising 2013 to continue to consolidate its position on the international coal market, the company is successfully pursuing its growth strategy in 2014.
In terms of the future business development, the takeover of Polish company Śląski Węgiel Żory – Suszec Sp. Z.o.o. in February 2014 was an important milestone. The company has exploration licenses for two regions located in Silesia which have existing coal reserves of well over 1 billion tonnes and offer huge mining potential for long-term coking coal and steam coal production. Access to the high-volume and high-quality resources will strengthen HMS Bergbau AG’s position on the European market and also in the coking coal market overseas. It also allows us to act more independently from other procurement channels.
The key financial figures for the first half of 2014 have improved significantly compared to the previous year. Revenues increased by EUR 26.4 million, from EUR 42.7 million to EUR 69.1 million. This corresponds to a 61.8% increase. Earnings from current operating activities increased by EUR 2.1 million, from EUR -1.5 million to EUR 0.6 million. Net profit for the period also increased considerably, from EUR -1.6 million in the previous year to EUR 0.5 million as at 30 June 2014. With total assets of EUR 18.7 million (31 December 2013: EUR 15.5 million), the equity ratio remains almost unchanged at 17.6% (31 December 2013: 17.5%). Cash and cash equivalents increased by EUR 1.9 million to EUR 5.4 million as at the balance sheet date compared to 31 December 2013.
Given the current market position and the prospects provided by the exploration in Poland, the long-term marketing agreement in Africa as well as rising Revenues in Southeast Asia, we continue to anticipate growth in revenues in the next two financial years plus a slight improvement in margins thanks to the further vertical integration of trading business.
For 2014 we continue to forecast positive EBITDA and a positive result for the year.
The 2014 interim report of HMS Bergbau AG can be downloaded from the company’s website under Financials at www.hms-ag.com.
The Executive Board
About HMS Bergbau AG:
Berlin based HMS Bergbau AG is one of the leading and independent coal trading houses in Germany specialising in international purchase and sale of coal to power plants and other industrial consumers worldwide. HMS is actively expanding its activities to Asia, Africa and Poland and develops first class raw material resources. Moreover HMS takes over complete, full-service transport solutions for their clients. HMS has been listed on Germany’s Frankfurt Stock Exchange (entry standard) since December 2008.