DGAP-News: HMS Bergbau AG publishes consolidated financial statements for FY 2011
(firmenpresse) - DGAP-News: HMS Bergbau AG / Key word(s): Final Results
HMS Bergbau AG publishes consolidated financial statements for FY 2011
06.06.2012 / 16:50
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Corporate News - 6 June 2012
HMS Bergbau AG publishes consolidated financial statements for FY 2011
- Group sales amount to EUR 106,669 thousand (previous year: EUR 151,720
thousand)
- Group EBIT of EUR -324 thousand (previous year: EUR 2,221 thousand)
- Consolidated net loss of EUR 1,038 thousand after profit of EUR 364
thousand in previous year
- Future growth to be achieved by deepening value added chain
- Outlook is positive
Berlin, 6 June 2011: HMS Bergbau AG, an international coal supplier with
operating know-how in coal mining, transport and trade, has published its
figures for 2011.
In 2011, the HMS Group recorded sales of EUR 106,669 thousand, following
EUR 151,720 thousand in the previous year's comparable period. EBIT before
extraordinary expenses came to EUR -324 thousand in the reporting period,
after previous year with EUR 2,221 thousand. Consolidated net earnings as
of 31 December 2011 amounted to EUR -1,038 thousand, contrasting with EUR
364 thousand as of 31 December 2010. This corresponds to earnings per share
of EUR -0.26 (previous year: EUR 0.09).
Total assets as of 31 December 2011 amount to EUR 14,591 thousand (previous
year: EUR 26,456 thousand), with equity at EUR 4,185 thousand (previous
year: EUR 7,608 thousand). This translates to an equity ratio that remains
solid, at 28.7 per cent as of the balance sheet date (previous year: 28.8
per cent). Cash and cash equivalents as of the balance sheet date of 31
December 2011 stood at EUR 3,963 thousand, after the previous year saw a
figure of EUR 2,286 thousand.
'While in financial year 2010, HMS was able to more than double virtually
all its sales and earnings key figures compared to those recorded in 2009,
benefiting from considerably increased trading volumes and a simultaneous
rise in coal prices, in contrast to this, 2011 was characterised by a range
of factors. Along with implementing structural measures which focused
principally on vertical integration throughout the value added chain and
expansion of our Asian coal business, during 2011 we found ourselves
confronted with an increasingly difficult European business, heavily
determined by notably lower coal prices and dwindling margins. The vigorous
growth in our Asian business was not able to balance out neither these
external factors nor the investments made in our structural measures.
Overall, however, we consider our strategic position, covering the value
added chain - from mining and logistics to customer deliveries - to be a
positive one with considerable potential for the future. We are
particularly hopeful of attractive business opportunities in South Africa
arising from our exclusive marketing agreement with ICHOR Coal N.V., which
is now HMS Bergbau's majority shareholder with an 83 per cent interest,
especially on the procurement side. Against this backdrop, we anticipate
being able to achieve considerable growth in the next two financial years',
said Heinz Schernikau, CEO of HMS Bergbau AG.
HMS Bergbau AG's annual report is available to download at www.hms-ag.com.
The Management Board
About HMS Bergbau AG:
Berlin-based HMS Bergbau AG is an independent coal trading house
specializing in just-in-time deliveries of thermal coal to power plants and
other industrial consumers. The company is one of the leading coal trading
companies in Germany and markets its products to renowned consumers
worldwide. HMS is actively expanding its activities to span coal production
and logistics solutions primarily in Asia. HMS has been listed at Germany's
Frankfurt Stock Exchange since December 2008.
Company contact:
HMS Bergbau AG
An der Wuhlheide 232
12459 Berlin
T.: +49 (30) 65 66 81-0
F: +49 (30) 65 66 81-15
Email: info(at)hms-ag.com
URL: www.hms-ag.com
HMS Investor Relations contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt am Main
T.: +49 (69) 74 30 37-00
F.: +49 (69) 74 30 37-22
Email: investors(at)hms-ag.com
End of Corporate News
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