SMT Scharf AG Announces Preliminary Results for Fiscal Year 2023 Below Expectations

SMT Scharf AG revealed that its operating profit (EBIT) for fiscal year 2023 is expected to amount to 3.6 million euros, compared to 14.3 million euros in 2022, which is below the latest EBIT forecast of 4.5 million euros. This significant decrease is mainly attributed to goodwill impairment losses, due to the delay in preparing electric commercial vehicles for market launch, as well as negative currency effects.

Additionally, the company generated consolidated revenue of 73.2 million euros in fiscal 2023, according to preliminary results, compared to 93.7 million euros in 2022. This amount is slightly lower than the latest forecast which were counting on 76.0 million euros. The revenue shortfall mainly reflects the postponement of revenue from commercial projects to the year 2024.