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HMS Bergbau AG sees 60% increase in performance

Published by , Digital Assistant Editor
Dry Bulk,

HMS Bergbau AG has been able to significantly expand its business activities in financial year 2016 – in spite of one of the most operationally challenging years on record for the industry. Improved international trading relationships and higher tonnages meant that it was able to significantly increase both total performance and profitability.

Accordingly, the group’s total performance rose by roughly 60%, from €117.6 million to €178.0 million in spite of a sharp drop in prices on the international coal market, above all in the first half of 2016. EBIT also increased significantly during the 2016 reporting period, from €747 000 in 2015 to €1 693 000. Profit for the period 1 January to 31 December 2016 ran to €269 000.

Total assets grew 27.7% in financial year 2016 to €41.0 million. As of 31 December 2016, equity totalled 10.1% compared with 11.9% as of the balance sheet date in the previous year. Cash and cash equivalents amounted to €1.6 million at the end of 2016.

Increasing commodity price levels in 2H16 and growing momentum in global commodities trading led to a trend reversal and to a positive development toward the end of 2016.

In 2016, HMS Bergbau AG was able to further improve its positioning in the international commodity markets in spite of market turbulence. The expansion of the trade, which previously focused primarily on coal, to include other commodities, such as ores, fertilizers and cement products, proved positive in financial year 2016, and will become another key pillar for HMS Bergbau AG in the medium term. At the same time, it has been tapping into and continuing to further develop new sourcing markets – especially in Asia, Africa and the Middle East – within the scope of this horizontal integration strategy.

HMS Bergbau AG’s business developments looked promising at the beginning of financial year 2017. Positive global economic prospects, increased international trading volumes and new marketing agreements, above all in South Africa, Botswana and Indonesia – coupled with an expansion of trading in other commodities – have made the company optimistic about the future.

Management therefore expects sales revenues to increase slightly and gross margins to remain attractive in the current 2017 financial year.

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