SMT Scharf AG lowers 2014 revenue forecast

preliminary Q1 2014 revenue and new order intake figures down significantly year-on-year

Hamm, (PresseBox) - SMT Scharf AG (WKN 575198, ISIN DE0005751986), the technology and world market leader for captivated railway systems for underground mines, is reducing its revenue forecast for the 2014 fiscal year. The company now anticipates revenue of only around EUR 45 million. In its most recent forecast published in the 2013 annual report, the company had been assuming a similar decline in revenue in percentage terms to that in the 2013 fiscal year, which would have corresponded to a revenue level of around EUR 52 million. The correction to the forecast has been prompted by preliminary revenue and new order intake figures for the first quarter of 2014, both of which have been determined since today, and which have fallen short of the company's expectations due to the weak market environment. Revenue of EUR 9.6 million was down by 36 % year-on-year (Q1/2013: EUR 15.1 million) and new order intake of EUR 11.2 million was down by 50 % year-on-year (Q1/2013: EUR 22.3 million).

The final figures and report for the first quarter 2014 will be published on May 15, 2014. SMT Scharf AG will then also issue specific forecasts for operating output and profit from operating activities (EBIT) for the full 2014 year.

The Annual General Meeting of SMT Scharf AG will be held on May 7, 2014 in Hamm.

SMT Scharf AG

SMT Scharf Group develops, manufactures and services transport equipment for underground mines. The main products are captivated railways that are used all over the world, primarily in black coal mines, but also in mines for gold, platinum and other metals. These are needed to transport material and personnel with payloads of up to 45 tons on gradients of up to 35 degrees. SMT Scharf Group has subsidiaries in six countries and agents worldwide. SMT Scharf generates more than 90 % of revenues in growing foreign markets such as China, Russia and South Africa. Business with replacement parts and repairs contributes about half of revenue. The entire market for underground transport equipment is estimated to be EUR 5 to 7 billion per year. SMT Scharf AG has been listed in the Prime Standard (Regulated Market) of the Frankfurt Stock Exchange since April 11, 2007.

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