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SMT Scharf AG lowers Profit Forecast for 2014 – Sales Forecast remains unchanged

The SMT Scharf AG (WKN 575198, ISIN DE0005751986), technology and world market leader for captivated railway systems for underground mines, is lowering its profit forecast for the financial year 2014. The company now anticipates a consolidated result of approximately EUR -2 million (to date: break-even consolidated results). The sales forecast for the year 2014 remains unchanged at EUR 45 million.

Due to the persistently difficult market environment, the Managing Board took the decision on 31 July 2014 to further scale back the workforce in the Hamm plant in addition to the reduction in employee numbers already communicated. In 2014, one-off costs of approximately EUR 2 million, incurred among other things by a social compensation plan, are expected to burden the result for the period.

The final figures for the first half of 2014 and the six-month report 2014 will be published on 14 August 2014.

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