HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110), a leading independent commodities trading and marketing company, has published its preliminary and unaudited figures for the first half of 2026. The results reveal a significant increase in revenue, rising by approximately 71% to around EUR 1.1 billion, up from EUR 643 million in the same period last year. This growth underscores the company's successful transformation into a diversified commodities player, with strong performance in trading and the initial contributions from its mining operations.
The company reported EBITDA of EUR 22.5 million for the first half, compared to EUR 8.3 million in the prior year. This figure includes positive one-off effects of EUR 8.4 million arising from the consolidation of the South African mining company Hoshoza Resources Vryheid. Excluding these one-off items, adjusted EBITDA stood at EUR 14.1 million. It is important to note that the half-year figures for 2026 are only partially comparable to those of the previous year, as the latter were prepared in accordance with the German Commercial Code (HGB).
During the first six months, HMS recorded a strong trading performance across bulk products and liquid fuels, with March and April being the most successful months in the company's history in terms of tonnage handled. The company also significantly expanded its activities in the metal ores sector. A notable development was the signing of an exclusive off-take agreement for the entire output of chromite ore from the Langpan mining project in South Africa, with a minimum duration of eight years.
A key milestone was the start of production at HMS's coal mines in South Africa and Botswana. Both mines are expected to reach full production within 2026 and are projected to make substantial contributions to earnings. CEO Dennis Schwindt 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 this strong performance, HMS has confirmed its full-year forecast, anticipating revenue to rise to EUR 2 billion. Adjusted EBITDA is expected to increase from EUR 23.1 million in 2025 to EUR 35 million in 2026. The exact further impact on results from the ongoing activities at Hoshoza Resources Vryheid cannot yet be determined.
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.
