HMS Bergbau AG, a leading independent commodities trading and marketing company based in Germany, has announced preliminary and unaudited financial results for the first half of 2026, showing substantial growth and a successful transformation into a diversified commodities company. The company’s 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 effects, stood at EUR 14.1 million. These figures, prepared in accordance with IFRS, are only partially comparable to the prior-year numbers, which were reported under the German Commercial Code (HGB).
The strong performance was driven by robust trading activity in 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 key milestone 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.
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.”
The start of production at HMS’s coal mines in South Africa and Botswana marks a significant step in the company’s strategy to expand its mining operations. Both mines are expected to reach full production capacity by the end of 2026, which is anticipated to contribute significantly to earnings. Positive one-off effects of EUR 8.4 million resulted from the consolidation of the South African mining company Hoshoza Resources Vryheid.
Following the strong first half, HMS has confirmed its full-year forecast, projecting revenue to rise to EUR 2 billion and adjusted EBITDA to increase from EUR 23.1 million in 2025 to EUR 35 million in 2026. The company notes that the exact impact of ongoing activities at Hoshoza Resources Vryheid cannot yet be determined.
The full half-year report for 2026 will be available for download from 30 September 2026 on the company’s website, www.hms-ag.com, under the Investor Relations section. This announcement underscores HMS’s successful execution of its growth strategy, positioning it as a key player in the global commodities market.
