HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110) reported preliminary and unaudited financial results for the 2025 financial year, highlighting a tripling of EBITDA to EUR 59.4 million from EUR 20.1 million in the prior year. The company’s sales reached EUR 1.22 billion, slightly below the EUR 1.36 billion recorded in 2024, primarily due to significantly lower commodity prices. Net income for the year stood at EUR 54.8 million, compared to EUR 13.2 million in the previous year. Equity increased substantially to EUR 136.5 million (2024: EUR 51.1 million), and the equity ratio rose to 38.2% from 23.2%.
The financial statements were prepared for the first time in accordance with International Financial Reporting Standards (IFRS), a change from German GAAP (HGB). This transition contributed to a one-off valuation effect of approximately EUR 37 million, largely from the initial consolidation of Maatla Resources (Pty.) Ltd. The company noted that the change improves comparability with listed international competitors and increases transparency for international investors.
Strategically, 2025 marked significant progress in HMS’s transformation into a diversified commodities company. The company acquired a majority stake in Hoshoza Resources Vryheid in South Africa and completed the acquisition of a majority stake in Maatla in Botswana. After Maatla made a positive earnings contribution in 2025, HMS expects positive earnings from Hoshoza in 2026. Additionally, business in liquid fuels and lubricants was expanded. CEO Dennis Schwindt stated that the company now operates as a broadly positioned commodity company with activities in coal trading, liquid fuels, ore and cement product trading, and commodity mining, making it more resilient to crises and enabling it to offer services from a single source.
The complete annual financial statements and annual report for 2025, including the outlook for 2026, will be available from June 30, 2026, on the company’s website at www.hms-ag.com in the Investor Relations section. The management board is currently reviewing options to further strengthen the company's capital base, including potential capital measures, though no decision has been made yet.
HMS Bergbau AG will host a webcast for investors and media representatives on April 15, 2026, at 09:30 a.m. German time. CEO Dennis Schwindt and CFO Jens Moir will present the 2025 figures and the 2026 outlook, followed by a Q&A session. Registration is available at this link.
