HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110, “HMS”), a leading independent commodities trading and marketing company from Germany, has published preliminary and unaudited figures (IFRS) for the first half of 2026. Revenue rose significantly by around 71 per cent from EUR 643 million to around EUR 1.1 billion. EBITDA (including one-off items) amounted to EUR 22.5 million in the first half of the year (previous year: EUR 8.3 million). Positive one-off effects on earnings amounting to EUR 8.4 million resulted from the consolidation of the South African mining company Hoshoza Resources Vryheid. Adjusted EBITDA (without one-off items) therefore stood at EUR 14.1 million. The half-year figures for 2026 are only comparable to those of the same period last year to a limited extent, as the latter were still prepared in accordance with the German Commercial Code (HGB).
HMS recorded a strong overall trading performance in bulk products and liquid fuels during the first six months. March and April were the most successful months in the company’s history to date in terms of tonnage handled. In addition, activities in the metal ores sector were significantly expanded. For the Langpan mining project in South Africa, HMS has entered into an exclusive off-take agreement for a minimum of eight years covering the entire output of chromite ore.
A key milestone in the first half of the year was the start of production at HMS’s coal mines in South Africa and Botswana. Both coal mines are expected to reach full production still in 2026 and subsequently make significant contributions to earnings.
Dennis Schwindt, CEO of HMS Bergbau: “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 performance in the first half of the year, HMS has confirmed its full-year forecast, according to which turnover is expected to rise to EUR 2 billion. Adjusted EBITDA is expected to increase from EUR 23.1 million in 2025 to EUR 35 million in 2026. The exact extent of the further impact on results from the ongoing activities at the South African mining company 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.
