SMT Scharf AG Releases H1 2024 Financial Results

SMT Scharf AG announced its financial results for the first six months of 2024. The company reported consolidated revenue of EUR 28.4 million, reflecting a 10.4% decrease compared to the previous year. Operating earnings (EBIT) stood at EUR -0.8 million, showing an improvement from EUR -1.8 million in H1 2023.

Despite subdued activity in the mining markets, the new equipment business recorded a 30.6% increase in revenue, reaching EUR 11.1 million. Revenue from spare parts declined to EUR 13.3 million, while the service segment remained stable at EUR 3.9 million.

Global sales saw Poland, China, and Russia as key markets. Notably, the Tunnel Logistics segment experienced significant growth, driven by a major order from the Middle East, contributing to a robust order book of EUR 53.8 million.

Looking ahead, SMT Scharf's management board maintains its revenue forecast of EUR 74-79 million for 2024 and expects operating earnings of EUR 1.5-2.5 million.