HMS Bergbau Reports Tripled EBITDA to €59.4 Million in 2025 Amid Strategic Shift to IFRS
HMS Bergbau AG's transition to IFRS accounting standards and strategic expansion into mining operations significantly boosted its 2025 earnings and equity, positioning the company for greater international competitiveness and resilience.
HMS Bergbau AG has released preliminary figures for the 2025 financial year, marking a significant shift in its financial reporting from German GAAP to the International Financial Reporting Standards (IFRS). This change, which includes the initial consolidation of Maatla Resources (Pty.) Ltd, has led to a substantial positive impact on earnings, with EBITDA tripling to €59.4 million from €20.1 million the previous year. Sales reached €1.22 billion, slightly below the prior year's €1.36 billion, primarily due to lower commodity prices. Net income surged to €54.8 million from €13.2 million, while equity increased to €136.5 million from €51.1 million, raising the equity ratio to 38.2%.
The transition to IFRS is a strategic move aimed at enhancing comparability with international competitors and increasing transparency for global investors. According to the company, this shift aligns with its broader transformation into a diversified commodities company. In 2025, HMS expanded its activities beyond coal trading by acquiring majority stakes in mining companies, including Hoshoza Resources Vryheid in South Africa and Maatla in Botswana. These acquisitions are part of an effort to operate along the entire value chain, from trading to mining and marketing, which the company believes will improve resilience and offer integrated services to customers.
CEO Dennis Schwindt emphasized the company's performance, stating that despite lower commodity prices, HMS maintained a profitable market position. He noted that the expansion into areas such as liquid fuels, ore, and cement product trading, alongside mining, strengthens the company's crisis resilience. The complete annual financial statements and report, including the outlook for 2026, will be available for download from 30 June 2026 on the company's website at https://www.hms-ag.com in the Investor Relations section. Additionally, the Management Board is reviewing options to strengthen the capital base, though no decisions have been made yet.
To discuss these results further, HMS will host a webcast on 15 April 2026 at 09:30 a.m., where CEO Dennis Schwindt and CFO Jens Moir will present the 2025 figures and the outlook for 2026. This event underscores the company's commitment to engaging with investors and media as it navigates its strategic evolution. The implications of this announcement are significant, as it highlights HMS Bergbau's successful adaptation to international standards and its growth into a more integrated commodities player, which could enhance its market position and attract broader investment interest in the future.