HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110), a leading independent commodities trading and marketing company based in Germany, released its audited financial figures for the fiscal year 2025 on June 30, 2026. The final numbers largely confirm the preliminary figures announced on April 14, 2026, and mark a significant leap in profitability. For the first time, the financial statements were prepared under IFRS, limiting comparability with previous years.
The company reported EBITDA of EUR 60.1 million for 2025, up from EUR 20.1 million in the prior year, and exceeding the preliminary figure of EUR 59.4 million. This growth was partly fueled by positive one-time valuation effects of approximately EUR 37 million from the transition to IFRS, notably from the initial consolidation of Maatla Resources (Pty.) Ltd., a coal mine in Botswana. Net income soared to EUR 54.8 million, compared to EUR 13.2 million in 2024, a more than fourfold increase.
Group sales declined slightly to EUR 1.22 billion from EUR 1.36 billion, primarily due to lower commodity prices. Looking ahead, HMS Bergbau anticipates group sales of EUR 2 billion and EBITDA of EUR 55 million in fiscal year 2026. This includes a one-time valuation effect of approximately EUR 20 million from consolidating Hoshoza Resources Vryheid in South Africa. Excluding this special effect, adjusted EBITDA is expected to rise from EUR 23.1 million in 2025 to EUR 35 million in 2026.
The company has made strategic decisions to expand into liquid fuels, raw material production, and traditional trading, positioning itself as a fully integrated international commodity house. These moves are expected to drive further growth. The full annual report for 2025 is available on the company's website at www.hms-ag.com in the Investor Relations section.
HMS Bergbau also announced a webcast for investors and media on July 6, 2026, at 3:00 p.m. CET. CEO Dennis Schwindt and CFO Jens Moir will present the 2025 financial results and 2026 outlook, followed by a Q&A session. Registration is available via this link. Additionally, the company has suspended its current bond issuance due to market conditions in the mid-cap bond market but remains in close contact with investors.
The implications of this announcement are significant for stakeholders. The robust earnings growth underscores HMS Bergbau's successful transition to a diversified commodity house, reducing reliance on coal trading. The strategic expansions into liquid fuels and mining production enhance resilience against commodity price volatility. The strong 2026 guidance, with expected sales nearly doubling and EBITDA rising even after adjusting for one-time effects, signals confidence in the company's growth trajectory. For investors, this news indicates potential for continued value creation, though the suspended bond issuance highlights ongoing challenges in capital markets.
