HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110) has announced preliminary and unaudited IFRS figures for the first half of 2026, revealing a significant increase in revenue by approximately 71% to around EUR 1.1 billion, up from EUR 643 million in the prior year. The company reported EBITDA of EUR 22.5 million, including one-off items of EUR 8.4 million related to the consolidation of the South African mining company Hoshoza Resources Vryheid. Adjusted EBITDA, excluding these one-off effects, stood at EUR 14.1 million, compared to EUR 8.3 million EBITDA (HGB) in the same period last year. The comparability of the figures is limited due to the change in accounting standards from HGB to 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. HMS also significantly expanded its activities in the metal ores sector. A key development was the signing of an exclusive off-take agreement for a minimum of eight years for the entire chromite ore output from the Langpan mining project in South Africa.
A major milestone in the first half was the start of production at HMS's coal mines in South Africa and Botswana. Both mines are expected to reach full production still in 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 this strong performance, 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 of 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.
These results underscore HMS Bergbau's successful transformation into a diversified commodities company, leveraging both its trading expertise and new mining operations. The confirmation of guidance despite global disruptions highlights the resilience and adaptability of its business model, positioning the company for sustained growth in the second half of the year.
