JD Neuhaus

Significant approval from Shareholders at AGM of SMT Scharf AG

SMT Scharf AG, one of the worldwide leading providers of underground transportation solutions and logistics systems, has today successfully held its Ordinary Annual General Meeting (AGM) 2018 at the Werkstatthalle in the Maximilianpark Hamm. The presence of the represented share capital amounted to approx. 43%. All agenda items were approved. 

As part of the AGM, the Managing Board reported on detail on the operative and strategic development of SMT Scharf AG in the 2017 fiscal year. This was significantly affected by the company's market expansion strategy in an improved market environment. The consistent implementation of the corporate strategy bore fruit and led to considerable revenue and earnings growth in the fiscal year elapsed. SMT Scharf reported marked consolidated revenue growth of 22.6% to EUR 52.1 million in the year under review (2016: EUR 42.6 million). At the same time, the operating result (EBIT) was up by 84.2% to EUR 4.5 million (2016: EUR 2.5 million). A significant majority of the AGM discharged the Managing and Supervisory boards for the 2017 fiscal year. Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne branch, was appointed as the auditor for the 2018 fiscal year.

The Managing Board also provided an overview of the first months of 2018. With the founding of the second sales-oriented joint venture in China and takeover of Canadian mining specialist RDH Mining Equipment preparations were made in early 2018 for further growth. Hans Joachim Theiss, CEO of SMT Scharf AG, comments: "Especially the acquisition of RDH will deliver important drivers for our business thanks to the expanded product portfolio, which now includes rubber-tyred vehicles. The integration of RDH is running to plan, so that the company will be included in the scope of consolidation as of the second quarter of 2018."

Source: SMT Scharf

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