DGAP-Ad-hoc: SMT Scharf AG / Key word(s): Change in Forecast
SMT Scharf AG: FY 2020 operating result prospectively lower than expected
Hamm, March 1, 2021 - SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986) announced that, as part of the preparation of the 2020 consolidated financial statements on the basis of preliminary figures, it has transpired that the operating result (EBIT) for the 2020 fiscal year is expected to amount to EUR -8.1 million (2019: EUR 6.8 million). In November 2020, the company had already adjusted its guidance for EBIT for the 2020 financial year to a range between EUR -6.0 million and EUR -6.5 million due to the revaluation of assets at the Canadian subsidiary RDH Mining Equipment Ltd. and resultant requirement for impairment charges, as well as the correction of the Group's intangible assets in light of the COVID-19 pandemic. The anticipated further deterioration in EBIT arises from the still-outstanding China-III approval of machines delivered to Chinese mining companies, which cannot yet be recognised as revenue in accordance with IAS 18. This exerts a correspondingly negative effect on the result.
Furthermore, SMT Scharf AG generated consolidated revenue of EUR 50.2 million in the 2020 fiscal year on the basis of preliminary figures. As a consequence, the revenue does not diverge significantly from the most recently forecast range of between EUR 48 million and EUR 50 million.
01-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||SMT Scharf AG|
|Phone:||+49 2381 960-01|
|Fax:||+49 2381 960-311|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1172167|
|End of Announcement||DGAP News Service|
1172167 01-March-2021 CET/CEST