BERLIN - HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110), a leading independent commodities trading and marketing company, announced its preliminary and unaudited financial results for the first half of 2026, revealing significant growth and strategic progress. Revenue surged by approximately 71% to around EUR 1.1 billion, up from EUR 643 million in the same period last year. EBITDA, including one-off items, reached EUR 22.5 million, compared to EUR 8.3 million in the previous year. Adjusted EBITDA, excluding one-off items, stood at EUR 14.1 million. The one-off items of EUR 8.4 million were primarily due to 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 limitedly comparable to those of 2025, as the latter were prepared under 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, HMS significantly expanded its activities in the metal ores sector. For the Langpan mining project in South Africa, the company has entered into an exclusive off-take agreement for a minimum of eight years, covering the entire output of chromite ore.
A key milestone in the first half of the year 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 significant contributions to earnings. 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 turnover to rise to EUR 2 billion. Adjusted EBITDA is projected to increase from EUR 23.1 million in 2025 to EUR 35 million in 2026. The exact extent of the further impact on results from the ongoing activities at Hoshoza Resources Vryheid cannot yet be determined.
This announcement underscores HMS's successful transformation into a diversified commodities company, balancing its trading heritage with new mining operations. The start of production at the coal mines and the off-take agreement for chromite ore signal a strategic shift towards vertical integration, which could enhance supply chain security for its customers and create new revenue streams. For the industry, HMS's ability to navigate geopolitical disruptions such as the Strait of Hormuz closure highlights the resilience and adaptability of diversified commodity traders. The confirmation of the full-year forecast suggests confidence in sustained growth, which may have positive implications for investors and the broader commodities market.
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.
