SMT Scharf AG Adjusts 2024 Revenue and Earnings Forecast

SMT Scharf AG, a leader in transport solutions for underground mining, has updated its financial forecast for 2024. The revised forecast comes after the consolidation of its joint venture with Shandong Xinsha Monorail Co., Ltd., effective from November 1, 2024. This strategic change is expected to significantly boost the company's financial performance.

The new revenue projection ranges from EUR 87 million to EUR 97 million, with operating earnings (EBIT) anticipated between EUR 2.8 million and EUR 4.6 million. This represents an increase from prior forecasts of EUR 74 million to EUR 79 million in revenue and EUR 1.5 million to EUR 2.5 million in EBIT.

Xinsha's contribution for the last two months of 2024 is expected to add EUR 13 million to EUR 18 million in revenue and EUR 1.3 million to EUR 2.1 million in EBIT. The impact may be more significant in 2025, when Xinsha is consolidated for the entire year.