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SMT Scharf AG reports significant H1/2021 Earnings Growth; Increase of FY 2021 Revenue and Earnings Forecasts

SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986) generated significant revenue and earnings growth based on preliminary results for the first half of the year, and is adjusting its previous forecast for the 2021 fiscal year accordingly.

SMT Scharf recorded consolidated revenue of EUR 31.4 million in the first six months of 2021 (H1 / 2020: EUR 23.6 million). Moreover, the company significantly grew its operating result (EBIT) to EUR 3.2 million (H1 / 2020: EUR -1.8 million), which already stands above the original EBIT forecast of EUR 2.5 million to EUR 3.0 million for the full 2021 year. Despite COVID-19-related restrictions, both the new systems business and the highly profitable after-sales business in the target markets worldwide performed better than assumed at the start of the year. On the basis of IAS 18, revenue from new systems in China have not yet been recognised.

As a consequence, SMT Scharf is adjusting its previous revenue and earnings forecast, and now anticipates revenue in a range between EUR 72 million and EUR 77 million for the 2021 fiscal year. Furthermore, the Managing Board now forecasts 2021 EBIT in a range between EUR 5 million and EUR 6 million. Originally, SMT Scharf anticipated consolidated revenue in a range between EUR 65 million and EUR 70 million for the 2021 fiscal year, and EBIT in a range between EUR 2.5 million and EUR 3.0 million.

Source: SMT Scharf AG

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