HMS Bergbau AG Reports Strong H1 2026 Results with Revenue Up 71% to EUR 1.1 Billion

HMS Bergbau AG, a leading independent commodities trading and marketing company based in Germany, has published its preliminary and unaudited financial results for the first half of 2026. The company reported a significant revenue increase of around 71% to approximately EUR 1.1 billion, up from EUR 643 million in the same period of the previous year. EBITDA, including one-off items, reached EUR 22.5 million, compared to EUR 8.3 million in the prior year. Adjusted EBITDA, excluding one-off effects, stood at EUR 14.1 million. The one-off effects of EUR 8.4 million resulted from the consolidation of the South African mining company Hoshoza Resources Vryheid. It is important to note that the half-year figures for 2026 are only comparable to the previous year to a limited extent, as the latter were prepared in accordance with the German Commercial Code (HGB) rather than IFRS.

The strong performance was driven by robust trading activities in bulk products and liquid fuels, with March and April being the most successful months in the company's history in terms of tonnage handled. The company also significantly expanded its activities in the metal ores sector. A key milestone was the exclusive off-take agreement for the Langpan mining project in South Africa, covering the entire output of chromite ore for a minimum of eight years.

Another critical development was the start of production at HMS's coal mines in South Africa and Botswana. Both mines are expected to reach full production by the end of 2026 and subsequently make significant contributions to earnings. CEO Dennis Schwindt commented: "We are very satisfied with our performance in the first half of the year. All business divisions have performed well and are contributing to our growth. Our trading business has performed very well; we were able to more than offset the restrictions caused by the closure of the Strait of Hormuz through increased trading in South-East Asia. We are particularly pleased that our coal mines have started production. Over the course of the rest of this year, we will gradually ramp up production there. We then expect to see corresponding positive contributions to earnings."

Following the strong first half, HMS has confirmed its full-year forecast, expecting revenue to rise to EUR 2 billion and adjusted EBITDA to increase from EUR 23.1 million in 2025 to EUR 35 million in 2026. The exact impact on results from the ongoing activities at Hoshoza Resources Vryheid cannot yet be determined. The full 2026 half-year report will be available for download from 30 September 2026 on the company's website, www.hms-ag.com, under the Investor Relations section.