SMT Scharf AG successfully holds its 2022 AGM
- Managing and Supervisory boards discharged for FY 2021
- Presence of represented share capital of 54.3 %
Hamm, May 17, 2022 SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the worlds leading suppliers of customised transport solutions and logistics systems for underground mining, has today, Tuesday, successfully held its virtual 2022 Annual General Meeting (AGM). This was again held in virtual form given the COVID-19 pandemic. The presence of the represented share capital amounted to around 54.3 %. The AGM adopted all items on the agenda. The shareholders discharged the members of the Managing and Supervisory boards for the past fiscal year by large majorities in each case.
The Managing Board reported to the AGM on the successful business performance of SMT Scharf AG during the 2021 fiscal year. Despite a continuation of challenging market conditions given the coronavirus pandemic, SMT Scharf achieved significant year-on-year revenue and earnings growth in 2021, with the positive trend in both new equipment and after-sales business making major contributions. In addition, SMT Scharf reached an important milestone in the third quarter by obtaining approval for its China III machines. This led to noticeably positive effects on the SMT Scharf Groups revenue and earnings in the third and fourth quarters of 2022. Overall, the revival of the global economy and the accompanying increase in global energy demand also had a beneficial effect on demand for transport and logistics solutions in the mining sector in 2021.
In addition, the Managing Board discussed the growth in revenue and earnings in the first quarter of 2022 and provided an outlook for the current fiscal year. The volatile market environment and the impact of the Ukraine war, as well the coronavirus pandemic, are causing uncertainty in the short term. In principle, the Managing Board believes that SMT Scharf is well positioned as a specialist in the niche to be able to benefit sustainably from the megatrends in mining. Urban development worldwide, high demand for economically strategic raw materials, as well as electromobility, offer attractive growth opportunities for the company.
Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne branch, was appointed as the auditor for the 2022 fiscal year.
The detailed voting results on the respective agenda items will be available shortly for download from the website at www.smtscharf.com within the investor relations area.
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The main products include captivated railway systems that are deployed worldwide, primarily in hard coal mines, as well as in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tonnes and on gradients of up to 30 degrees. In addition, SMT Scharf supplies the mining sector with chairlifts. Since 2018, SMT Scharfs diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and tunnelling, including loaders, scissor lifts and underground trucks. As part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries. Overall, the SMT Scharf Group is active with subsidiaries in seven countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa.
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