HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110) has released preliminary and unaudited figures for the 2025 financial year, marking the first-time application of International Financial Reporting Standards (IFRS). The company reported EBITDA of EUR 59.4 million, more than triple the prior year's EUR 20.1 million, despite a decline in sales to EUR 1.22 billion from EUR 1.36 billion in 2024. The sales decrease is primarily attributed to significantly lower commodity prices.
The substantial increase in EBITDA includes one-off valuation effects of approximately EUR 37 million from the transition to IFRS, particularly from the initial consolidation of Maatla Resources (Pty.) Ltd. Net income for the year rose to EUR 54.8 million, up from EUR 13.2 million in the previous year. Equity climbed to EUR 136.5 million (2024: EUR 51.1 million), with the equity ratio improving to 38.2% from 23.2%.
The shift from German GAAP (HGB) to IFRS enhances comparability with international peers and increases transparency for global investors, according to the company. In 2025, HMS took significant strategic steps, including acquiring a majority stake in South African mining company Hoshoza Resources Vryheid and completing the acquisition of a majority stake in Maatla in Botswana. Maatla already contributed positively to earnings in 2025, and HMS expects positive earnings from Hoshoza in 2026. The company also expanded its business in liquid fuels and lubricants.
CEO Dennis Schwindt commented: “2025 was once again a very good financial year for HMS, in which we were able maintain a very good and profitable position in the market despite significantly lower commodity prices. We have substantially expanded our commodity activities along the value chain and operate as a broadly positioned commodity company with activities in coal trading, liquid fuels, ore and cement product trading as well as in commodity mining. This makes us even more resilient to crises and enables us to offer customers services from a single source. We see the change in our accounting and financial reporting to IFRS as a logical step for even greater visibility on the capital market.”
The complete annual financial statements and the annual report for 2025, including the outlook for 2026, will be available from 30 June 2026 on the company's website at www.hms-ag.com in the Investor Relations section. The Management Board is reviewing various options to further strengthen the capital base, including potential capital measures, though no decision has been made yet.
HMS Bergbau AG is one of the leading independent commodity trading and marketing companies headquartered in Germany. Its core business includes international trade in coal products, liquid fuels, ores, cement and other products, as well as commodity production through majority holdings in mining companies. With activities spanning Asia, Africa, Europe, North and South America, the company holds high-quality commodity reserves and an extensive global network.
HMS will host a webcast for investors and media representatives on 15 April 2026 at 09:30 a.m. CET. CEO Dennis Schwindt and CFO Jens Moir will discuss the 2025 figures and the outlook for 2026. Registration is available at this link.
