SMT Scharf AG Reports Third Quarter 2024 Financial Results

SMT Scharf AG has released its financial results for the third quarter of 2024. Consolidated revenue reached EUR 19.5 million, while operating earnings (EBIT) stood at EUR -0.5 million. Over the first nine months of 2024, revenue totaled EUR 47.9 million, with EBIT at EUR -1.3 million. The company faced ongoing challenges in the mining equipment market, impacting its performance compared to the previous year.

Significant growth in the Tunnel Logistics segment was driven by a major order, leading SMT Scharf to raise its outlook for 2024. With the integration of Xinsha Monorail, the company expects consolidated revenue between EUR 87 million and EUR 97 million, and EBIT ranging from EUR 2.8 million to EUR 4.6 million. China remains a key export market, contributing EUR 14.0 million to revenue.

Despite the challenges, SMT Scharf's order intake rose sharply, reaching EUR 73.6 million in the first nine months. The Tunnel segment played a significant role in this increase. As of September 30, 2024, the order book stood at EUR 48.3 million.