HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110), a leading independent commodities trading and marketing company, has published its preliminary and unaudited figures for the first half of 2026, revealing a significant increase in revenue and profitability. The company's revenue rose by approximately 71% to around EUR 1.1 billion, compared to EUR 643 million in the same period last year. EBITDA, including one-off items, reached EUR 22.5 million, up from EUR 8.3 million in the prior year. Adjusted EBITDA, excluding one-off items, stood at EUR 14.1 million. The positive 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 a limited extent with the previous year, as the latter were prepared in accordance with the German Commercial Code (HGB).
The strong performance was driven by a robust trading business in bulk products and liquid fuels. March and April were the most successful months in the company's history in terms of tonnage handled. Additionally, activities in the metal ores sector were significantly expanded. A key milestone was the signing of an exclusive off-take agreement for a minimum of eight years covering the entire output of chromite ore from the Langpan mining project in South Africa.
Perhaps the most significant development 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 substantial contributions to earnings. This marks the transition of HMS from a pure trading company to a diversified commodities company with its own production capabilities.
Dennis Schwindt, CEO of HMS Bergbau, 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. This strong performance underscores HMS's successful transformation and its ability to navigate global market challenges, positioning it for continued growth in the commodities sector.
