SMT Scharf Cuts FY2026 Forecast Amid Mining Downturn

SMT Scharf AG, a leading global supplier of bespoke transport solutions and logistics systems for underground mining, has reported a challenging first nine months of 2026. Based on preliminary figures, the company generated consolidated revenue of EUR 51.5 million, a sharp decline from EUR 70.9 million in the same period of 2025. Operating earnings (EBIT) fell to EUR 0.0 million, down from EUR 2.4 million. The weak performance was driven by lower investment activity in key markets for coal mining and tunnel logistics, which significantly reduced new systems business. Additionally, the third quarter was burdened by the unexpected termination of a tunnel project in the Middle East, resulting in non-recurring charges of EUR 0.6 million from provisions.

In response to these developments and the expectation that customer investment will remain subdued in the fourth quarter, the Managing Board has revised its forecast for the 2026 financial year. Consolidated revenue is now expected to range between EUR 75 million and EUR 85 million, down from the previous forecast of EUR 95 million to EUR 115 million. EBIT is projected to range between EUR -0.5 million and EUR -1.5 million, compared with the earlier guidance of EUR 1 million to EUR 2 million. CEO Longjiao Wang emphasized the company’s commitment to its strategy, stating, “We remain focused on consistently implementing our adopted strategy and expanding our business with an extended product portfolio.” He highlighted targeted sales partnerships, such as with the CFH Group in Kazakhstan and South Africa, and the development of the electromobility product portfolio. Notably, SMT Scharf’s 19-seat personnel carrier and 8-tonne cargo vehicle have received MA certification in China, confirming their suitability for safe use in potentially explosive underground environments.

Despite short-term challenges, Wang expressed confidence in the company’s medium- and long-term prospects: “Although subdued investment activity in the mining equipment market is weighing on our business in the short term, we continue to see attractive business prospects for the SMT Scharf Group in the medium and long term.” The full quarterly report as of 30 September 2026 will be published on 29 October 2026. SMT Scharf Group develops, manufactures, and services transportation equipment for underground mining and tunnel construction, including captivated railway systems, chairlifts, and rubber-tyred diesel and electric vehicles. The company operates subsidiaries in seven countries and has agents worldwide. For more information, visit www.smtscharf.com.