HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110), a leading independent commodities trading and marketing company, announced preliminary and unaudited figures for the 2025 financial year, prepared for the first time under International Financial Reporting Standards (IFRS). The shift from German GAAP (HGB) to IFRS limits comparability with prior year figures but provides greater transparency for international investors. Sales reached EUR 1.22 billion, down from EUR 1.36 billion in 2024, primarily due to significantly lower commodity prices. EBITDA soared to EUR 59.4 million from EUR 20.1 million, driven by one-off valuation effects of approximately EUR 37 million from the IFRS transition, notably the initial consolidation of Maatla Resources (Pty.) Ltd. Net income rose to EUR 54.8 million (2024: EUR 13.2 million), and equity increased sharply to EUR 136.5 million (2024: EUR 51.1 million), resulting in an equity ratio of 38.2% (2024: 23.2%).
The company's strategic transformation into a diversified commodities company progressed significantly in 2025. HMS acquired a majority stake in Hoshoza Resources Vryheid in South Africa and completed 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. Additionally, the company expanded its business in liquid fuels and lubricants. CEO Dennis Schwindt stated: "2025 was once again a very good financial year for HMS... 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 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 options to further strengthen the capital base, including potential capital measures, though no decision has been made. A webcast for investors and media representatives will be held on 15 April 2026 at 09:30 a.m. CET, where CEO Dennis Schwindt and CFO Jens Moir will discuss the 2025 figures and the 2026 outlook. Registration is available at this link.
