Interim / Quarterly Report • Sep 30, 2020
Interim / Quarterly Report
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| Balance Sheet Figures | 30/06/2020 EUR thousand |
31/12/2019 EUR thousand |
|---|---|---|
| Total assets | 43,236 | 51,120 |
| Non-current assets | 16,728 | 15,337 |
| Current assets | 25,032 | 34,334 |
| Shareholders' equity | 14,991 | 15,300 |
| Provisions | 8,828 | 8,647 |
| Liabilities | 19,417 | 27,173 |
| 30/06/2020 | 30/06/2019 | |
|---|---|---|
| Income statement figures | TEUR | TEUR |
| Sales | 129,531 | 117,156 |
| Operating income | 622 | 751 |
| EBITDA(1) | 552 | 681 |
| EBIT | 512 | 642 |
| -DSOQNjSKNRR(2) | 121 | 319 |
(1) EUR 607,128.79 half-year result excluding EUR 486,374.16 in pension provisions (30 June 2019: EUR 427,436.52 in pension provisions)
| Expected publication date | |
|---|---|
| \$MCNESGDjM@MBH@KXD@Q | 31. December 2020 |
| MMT@KjM@MBH@KRS@SDLDMSR | 30. June 2021 |
| Interim Report 2021 | 30. September 2021 |
| Letter to the Shareholders | 4 |
|---|---|
| Macroeconomic Development | 6 |
| Investor Relations | 12 |
| Management Report | 15 |
| Consolidated Balance Sheet | 20 |
| Consolidated Income Statement | 22 |
| Imprint | 23 |
The English version of the interim report and the H1 consolidated financial statements 2020 of HMS Bergbau AG is a one-to-one translation. The English version is not audited; in the event of variances, the German version shall take precedence over the English translation.
3GDjQRSG@KENEV@RL@QJDCAXSGDLD@RTQDRS@J-DMSNBNLA@SSGDBNQNM@O@MCDLHB
+NBJCNVMRANQ-CDQBKNRTQDRSQ@UDK@MCSQ@MRONQSQDRSQHBSHNMR@RVDKK@R L@INQTMBDQS@HMSXHMCD@KHMFVHSGSGDUHQTRG@UDCNLHnated public, private and business life since the beginning of 2020.
R @M HMSDQM@SHNM@K OK@XDQ HM SGD BNLLNCHSX L@QJDSR SGDBG@KKDMFDRVDQD@MCBNMSHMTDSNADFQD@SENQ',2 !DQFA@T & @MC SGD L@QJDS BNMCHSHNMR QDL@HM CDmanding.
F chrome, lithium or manganese ores), cement products @MCNHKOQNCTBSR
3GDHMSDQM@SHNM@KBN@KATRHMDRRGNVever, continued to play the dominant role in operations, accounting for around 90 per cent of trading volumes, particularly in Asia and Africa.
.UDQ@KKSGDD@QMHMFRRHST@SHNMNESGD',2&QNTOHMSGD jQRS G@KE NE V@RRSQNMFDQSG@M HMSGDR@LD ODQHod of the previous year. Sales increased 11 per cent from EUR 117.2 million to EUR 129.5 million. EBITDA in the January through June 2020 period amounted to EUR 553 thousand compared to EUR 680 thousand HMSGDjQRSRHWLNMSGRNE
-DSOQNjSENQSGDODQHNC amounted to EUR 121 thousand as at 30 June 2020 BNLO@QDC VHSG \$41 SGNTR@MC HM SGD jQRS G@KE NE 2019, despite the investments in the development of international structures and personnel. Total assets of ',2 !DQFA@T & @R @S SGD )TMD QDONQSHMF C@SD @LNTMSDCSN \$41
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.UDQ@KKHSB@MADRS@SDCSG@S',2!DQFA@T &V@RKDRR @EEDBSDCAXSGDDBNMNLHBBQHRHRHMSGDjQRSG@KE XD@Q@R @QDRTKSNEHSRHMSDQM@SHNM@KONRHSHNMHMF
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Despite the global economic impact of the measures S@JDM SN BNLA@S SGD BNQNM@UHQTR SGD ',2 &QNTO HR KNNJHMFENQV@QCSNONRHSHUDCDUDKNOLDMSRHMSGDDMDQFX
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-DUDQSGDKDRR@QDCTBSHNMHMSGD FKNA@KQ@VL@SDQH@KRATRHMDRRNE@QNTMCODQBDMSHR expected for 2020.
(MSGDBTQQDMSDBNMNLHBDMUHQNMLDMSGNVDUDQHSBNM-SHMTDR SN AD CHEjBTKS SN L@JD QDKH@AKD OK@MR QDF@QCHMF the Company's business development. In the medium SDQLGNVDUDQSGDL@M@FDLDMSNE',2!DQFA@T & considers the prospects to be promising. Its interna-SHNM@KONRHSHNMHMF@MCRSD@CHKXFQNVHMFQ@MFDNERDQUHBDR should enable it to generate better results and higher sales volumes in the future. In its operating activities, ',2!DQFA@T &HRMNSNMKXHM@FQDDLDMSVHSGSGD/@Q-HR"KHL@SD"NMUDMSHNMATSVHKK@KRNBNMSHMTDSNL@JD@M active contribution to climate protection by supporting international climate protection projects. The funda-LDMS@KOQDQDPTHRHSDRENQSGDOK@MRNE',2!DQFA@T & @QDSGDDWHRSDMBDNEQDK@SHUDKXEQDDL@QJDSRVHSGNTSL@INQ trade restrictions and the successful containment of the corona pandemic.
Dennis Schwindt (COO) holds a degree in Economics EQNLSGD'TLANKCS 4MHUDQRHSXHM!DQKHM
S',2!DQFA@T AG, he has been managing several operating projects VHSGHMSGDBNLLNCHSXSQ@CHMF@QD@@RSGDBNLO@MX?R@T-SGNQHRDCQDOQDRDMS@SHUDRHMBD
'DF@HMDCDWSDMRHUD experience in engineering and in the oil and gas indus-SQHDR EQNL GHR OQDUHNTR ONRHSHNMR @S LDCHTL RHYDC &DQman companies and international groups.
Jens MoirHRSGD"%.NE',2!DQFA@T &
)DMR,NHQG@R LNQDSG@MXD@QRNEDWODQHDMBD@R@"%.@MCRDMHNQjnance executive in the international steel construction, oil @MCF@RHMCTRSQHDRVHSGQDMDV@AKDDMDQFX@MCBNLO@MHDR HM SGD DMSDQS@HMLDMS HMCTRSQX
,NRS QDBDMSKX GD @CUHRDC RDUDQ@KSDBGMNKNFXRS@QS TOBNLO@MHDR
,Q,NHQGNKCRANSG !QHSHRG@MC&DQL@MBHSHYDMRGHO@MCG@RHMSDQM@SHNM@KDWODQHence in Germany, Poland, Austria and the USA.
Berlin, September 2020
Dennis Schwindt "GHDE\$WDBTSHUD.EjBDQ
"GHDE%HM@[email protected]
%NKKNVHMFSGDMNSHBD@AKDTOSTQMHMSGDFKNA@KDBNMNLX in 2019, the battle against the corona pandemic has KDCSNSGDVNQRSFKNA@KDBNMNLHBBQHRHRHMCDB@CDR
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(MHSR ENQDB@RSNE)TMDSGD(MSDQM@SHNM@K,NMDS@QX%TMC (,%RDDR@
ODQBDMSRKTLOHMSGDFKNA@KDBNMNLX OQNLOSHMF HSSN KNVDQ HSR ENQDB@RS ENQSGDSGHQCSHLD HM 2020.
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Even though forecasts are subject to considerable un-BDQS@HMSX SGD (,% DWODBSR FKNA@K DBNMNLHB NTSOTS SN recover by 5.4 per cent in 2021.
3GD DWODBS@SHNMR ENQ SGD SVN K@QFDRS DBNMNLHB ONVers, the USA and China, are different. While the OECD has revised its forecast for the USA in the current year 2020 to minus 7.3 per cent and predicts an increase in economic output of 4.1 per cent in 2021, the recession in China is much less severe. The OECD expects the Chinese economy to contract a mere 2.6 per cent and ADKHDUDRFQNVSGNE
ODQ BDMSVNTKCADONRRHAKD @R early as 2021.
%NQ SGD DTQNYNMD SGD .\$"# HR ENQDB@RSHMF VG@S VHKK probably be the biggest slump in economic output since the Great Depression. In its July study, the OECD predicted a 9.1 per cent decline in economic output in 2020. In 2021, the economy is expected to recover sig-MHjB@MSKXVHSG@FQNVSGQ@SDNE
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The economy in Germany is developing comparative-KX VDKK
.\$"# DWODQSR ENQ DW@LOKD @QD ENQDB@RSHMF @ decline in economic output of 6.6 percentage points in SGDBTQQDMSXD@Q
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'NVDUDQ@KKNESGDRDENQDB@RSR@QDA@RDCNMSGDDWODB-S@SHNMSG@SSGDQDVHKKMNSAD@RDBNMCKNBJCNVMNESGD economies.
The forecast described by the industrialised nations organisation, the OECD, for the years 2020 and 2021 is subject to considerable uncertainty. Not only is the economic slump in peacetime a historic one since the Great Depression, but government debt is also jumping to historically high levels.
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(MBNMSQ@RSSNSGDRGNVDUDQSGDNTSKNNJ ENQSGDVNQKCDBNMNLX@SKD@RSNEEDQR@FKHLLDQNEGNOD There is a chance of recovery in the foreseeable future. SSGDR@LDSHLD@QDMDVDCRKTLOHMDBNMNLHBNTSOTS B@TRDCENQDW@LOKDAX@RDBNMCKNBJCNVMBNMS@HMR BNMRHCDQ@AKDFKNA@KDBNMNLHBQHRJR
"QTCDNHKL@QJDSRVDQDSGDG@QCDRSGHSAXSGDLD@RTQDR HLONRDC VNQKCVHCDSN BNLA@SSGD BNQNM@ O@MCDLHB The collapse in global crude oil demand due to social CHRS@MBHMF@MCSQ@UDKQDRSQHBSHNMRV@RQDkDBSDCHM@CQ@ matic drop in prices. The average price of the European QDEDQDMBDFQ@CDNE!QDMSBQTCDHM OQHKV@RADKNV 42#ODQA@QQDKlNQLNQDSG@MODQBDMSADKNVSGD average price in April 2019.
(MQDRONMRDSNSGDCQNOHMOQHBDR@MCKNVDQCDL@MCSGD OPEC+ countries agreed to cut production by around 9.7 million barrels, or 10 per cent, per day at the end of April 2020. In addition to the OPEC+ production cuts, RTOOKXCDBKHMDCCTDSNSGDBKNRTQDNETMOQNjS@AKDRG@KD oil rigs in the USA.
R@QDRTKSNESGDRDLD@RTQDR@KNMFVHSGSGDRKNVHMcrease in demand for crude oil resulting from the recovery of global economic output and the gradual lifting NESGDKNBJCNVMLD@RTQDRHML@MXBNTMSQHDRBQTCDNHK OQHBDRG@UDADDMQHRHMF@F@HMRHMBD,@X
Whereas Brent crude per barrel (=159 litres) still cost just under USD 68.20 at the beginning of the year, the OQHBDQD@BGDC@KNVNE42#
HM OQHK
.M)TMD SGDOQHBDODQA@QQDKNENHKV@R42#
/QHBDR continued to rise in July and August 2020 and reached USD 45.53 per barrel at the end of August.
The price of the fossil fuel coal continued the price trend in 2019. According to the coal price index API-2, initial-KXSGDSQDMCHMSGDOQHBDODQSNMMDNEBN@KV@RRG@QOKX MDF@SHUD QD@BGHMF @ KNV NE @QNTMC42#
@SSGD DMCNE,@X
3GDOQHBD QDBNUDQDC@KLNRSDMSHQDKX HMSGDODQHNCEQNLSGDADFHMMHMFNE)@MT@QXVGDM prices amounted to around USD 60 per tonne, through SGDDMCNE)TMDVGDM@SNMMDNEBN@KSQ@CDC@S USD 57.68 (as at 30 June 2020). On 31 August 2020, one tonne of coal cost USD 57.71, representing a price decline of less than four per cent compared to the beginning of 2020.
3GDFKNA@KROQD@CNESGDBNQNM@UHQTRHMSGDjQRSG@KENE V@R@BBNLO@MHDCAX@RHFMHjB@MSCQNOHMOQHBDR NMSGDHMSDQM@SHNM@KBNLLNCHSXL@QJDSR
3GDKNBJCNVM LD@RTQDRHLONRDCVNQKCVHCDSNBNMS@HMSGDO@MCDL-HBRKNVDCCNVMSGDFKNA@KDBNMNLX@MCG@C@L@INQ impact on the development of international commodity L@QJDSR@MC@EEDBSDCSGDOQHBDRNE@KLNRS@KK Q@VL@ terials.
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3GD drop in prices on the industrial and agricultural com-LNCHSXL@QJDSRGNVDUDQV@RLHSHF@SDCAX@RGNQS@FD of supply due to disruptions in supply chains and pro-CTBSHNM
%NQ DW@LOKDSGD'66( BNLLNCHSXOQHBD HM-CDWVGHBGQDkDBSRSGDLNRSHLONQS@MSQ@VL@SDQH@KRHM the energy, food and beverages and industrial sectors, EDKKAXODQBDMSBNLO@QDCSNSGDjQRSPT@QSDQNE (MSGDRDBNMCPT@QSDQNESGD'66(BNLLNCHSX OQHBDHMCDWEDKKAX@ETQSGDQODQBDMSUDQRTRSGDjQRS PT@QSDQNE
3GDRSDDODRSOQHBDCDBKHMDV@RQDBNQCed in April 2020.
3GDCDBKHMDHMSGD'66(NUDQ@KKHMCDWV@RO@QSHBTK@QKX RDUDQDHM,@QBG@MC OQHK
SNMDONHMSSGDHMCDW stood at 54.9 points. Nevertheless, commodity pric-DRVDQD @AKDSN QDBNUDQRHFMHjB@MSKX HM,@X @MC )TMD and, at the end of June 2020, the index stood at 107.6 ONHMSR
SSGDADFHMMHMFNESGDHMCDWV@RRSHKK@S 113.7 points.
(M SNS@K GNVDUDQ @ FKNA@K QDCTBSHNM NE @ANTS ODQ BDMSHMSGDUNKTLDNEONVDQOK@MSSQ@CHMFHRDWODBSDC for 2020 due to the pandemic.
The increase in global goods trade and a steady rise in the production of goods have led to a sharp increase in global energy consumption. Energy consumption has LNQDSG@MCNTAKDCVNQKCVHCDHMSGDK@RSENTQCDB@CDR alone. Not only has the absolute consumption of the various energy sources increased, but the energy mix has also changed, among others, as a result of the rise HMQDMDV@AKDDMDQFHDR
By 2060, the International Energy Agency predicts de-L@MCENQOQHL@QXDMDQFXVHKKMD@QKXCNTAKDEQNLHSRBTQrent level to more than 320,000 TWh. This forecast is based on the assumption that, by that time, the stand- @QCNE KHUHMF HMDLDQFHMF@MCCDUDKNOHMFBNTMSQHDRVHKK G@UD@CITRSDCSNSGDKDUDKNESGDVDRSDQMHMCTRSQH@KHRDC nations. According to the experts from the World Ener-FX.TSKNNJDMDQFXBNMRTLOSHNMHM EQHB@(MCH@"GHM@ 2NTSGD@RS RH@@MCSGD,HCCKD\$@RSHRRDSSNHMBQD@RD 30 per cent by 2040.
3GD !/ \$MDQFX .TSKNNJ DWODBSR @M HMBQD@RD HM OQHL@QXDMDQFXBNMRTLOSHNMVNQKCVHCDNEITRS
ODQ cent p.a. on average over the next 20 years versus the 2.0 per cent rise in the period from 1998 to 2018. The HMBQD@RDHMDMDQFXBNMRTLOSHNMHRRSQNMFKXKHMJDCSNSGD FQNVSGHMFKNA@KDBNMNLHBNTSOTS
'NVDUDQ@RNESGD O@RSEDVXD@QRDMDQFX R@UHMFLD@RTQDRG@UDQDRTKSDC HM @ KNVDQ HMBQD@RD HM DMDQFX BNMRTLOSHNM BNLO@QDC SNDBNMNLHBFQNVSG
&KNA@KFQNRRCNLDRSHBOQNCTBSHR DWODBSDCSNCNTAKDAXVGHKDDMDQFXBNMRTLOSHNM HR OQDCHBSDCSN QHRD AX ITRS NMD SGHQC
&QNVSG HR ADHMF CQHUDMAXSGDDLDQFHMFL@QJDSR@MCO@QSHBTK@QKX"GHM@ @MC(MCH@
"GHM@VHKK HMHSH@KKX QDL@HMSGD K@QFDRSFQNVSG L@QJDS ENQ DMDQFX VHSG (MCH@ OQNA@AKX @RRTLHMF SGHR position by the end of the 2040 forecast period.
3GDK@SDRS!/\$MDQFX.TSKNNJ@RRTLDRSG@SHMSGDMDWS XD@QRSGDRG@QDNEQDMDV@AKDDMDQFHDRVHKKHMBQD@RD rapidly from today's 4 per cent to around 15 per cent. 3NFDSGDQVHSGM@STQ@KF@R QDMDV@AKDDMDQFHDR@QDDWpected to contribute about 85 per cent of the increase NUDQSGDMDWSEDVXD@QR
ODQBDMSFQNVSG in oil and coal is expected to come to a standstill.
According to BP's study, global coal consumption should remain virtually unchanged. Consumption is DWODBSDCSN OD@J HMSGD LHC R @MCSGDM CDBKHMD slightly (-0.1 per cent) until 2040. In the last 20 years, coal consumption rose by 2.7 per cent. Based on this CDUDKNOLDMSF@RVHKKADBNLDSGDRDBNMCLNRSHLONQtant source of energy after oil by 2040. Coal is predicted to be forced into third place as a primary energy source ATSVHKKRSHKKBNMSHMTDSN Q@MJjQRSHMSDQLRNEDKDBSQHBHSX generation. The slight decline in coal is due to the increased use of other energy sources in China. Never-SGDKDRR"GHM@HRSNQDL@HMSGDLNRSHLONQS@MSL@QJDS for coal and be a user of almost half of this resource by 2040.
"N@K QDL@HMR@M HMDWODMRHUD QDRNTQBDVNQKCVHCD
3GD CDBKHMDHMBN@KCDL@MCHMSGDCDUDKNODCVNQKCHRNEERDS by increased demand in emerging economies such as China or India. While the share of coal as a primary energy source is expected to decrease from 27 per cent in 2017 to around 21 per cent in 2040, absolute consumption is anticipated to remain roughly the same due to rising energy demand.
BBNQCHMFSNB@KBTK@SHNMRAXSGD6NQJHMF&QNTONM\$M-DQFX !@K@MBDR QADHSRFDLDHMRBG@ES \$MDQFHDAHK@MYDM DMDQFXBNMRTLOSHNMHMSGDjQRSG@KENEEDKKAX per cent year-on-year to 5,961 petajoules (PJ), or 203.5 million tonnes of coal equivalent (tce). The decline in
consumption is mainly due to the macroeconomic effects of the corona pandemic. The rate of change in DMDQFXBNMRTLOSHNMV@RMNSHBD@AKXGHFGDQSG@MSGDCDcline in overall economic output.
The decline in consumption affected all fossil fuels. Coal, GNVDUDQ@BBNTMSDCENQ@KLNRSSVNSGHQCRLD@MHMFSG@S @RHFMHjB@MS QDCTBSHNMHM".DLHRRHNMRNELNQDSG@M 13 per cent can be assumed.
Total mineral oil consumption fell by 6.7 per cent. The consumption of petrol, in particular, fell sharply (minus ODQBDMS@BBNLO@MHDCAX@RHFMHjB@MSCQNOHMSGD consumption of diesel fuel (by 8.6 per cent). Sales of aviation fuel dropped by a dramatic 46 per cent. Only KHFGSGD@SHMFNHKR@V@MHMBQD@RDHMR@KDRUNKTLDRVGHBG amounted to 28 per cent, due to favourable prices.
Natural gas consumption fell by 4.6 per cent overall as @QDRTKSNESGDLHKCVD@SGDQCTQHMFSGDjQRSSVNLNMSGR of 2020 and the reduced use of natural gas in various HMCTRSQH@K RDBSNQR
2@KDR UNKTLDR HMSGD ONVDQ RS@SHNM sector, on the other hand, increased.
Consumption of hard coal fell by almost 25 per cent in SGDjQRSG@KENE
(MSGDB@RDNEBN@KTRDCHMONVDQ RS@SHNMRSNFDMDQ@SDDKDBSQHBHSX@MCGD@SSGDQDV@RDUDM a decline of just under 30 per cent. This development V@RL@HMKX@QDRTKSNESGDRG@QOKXGHFGDQDKDBSQHBHSXEDDC HMEQNLVHMC@MC/5OK@MSR@KNMFVHSGSGDGHFGDQTRDNE natural gas for electricity generation.
3GD TRD NE BNJD @MC BN@K HMSGD RSDDK HMCTRSQX EDKK AX around 19 per cent due to the economic situation.
+HFMHSDBNMRTLOSHNMEDKKAX
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3GHR RTARS@MSH@K CDBKHMD V@R L@HMKX due to the sharp rise in electricity generation from re-MDV@AKDRSGDSQ@MRHSHNMNEETQSGDQ KHFMHSDONVDQOK@MSR SN RS@MCAX LNCD ENQ A@BJ TO @MCSGD HLO@BS NESGD corona pandemic on the domestic and European elec-SQHBHSXL@QJDSR
In the nuclear energy sector, electricity generation fell by @QNTMCODQBDMSHMSGDjQRSG@KENE@R@QDRTKSNE SGDRBGDCTKDCRGTSCNVMNESGD/GHKHORATQFONVDQOK@MS at the end of 2019.
1DMDV@AKD DMDQFHDR HM BNMSQ@RS HMBQD@RDCSGDHQ BNMtribution to total energy consumption by a total of 3 ODQBDMSHMSGDjQRSG@KENE
6HMCONVDQ@MCRNK@Q energy each increased by 10 per cent as a result of E@UNTQ@AKDVD@SGDQBNMCHSHNMR
\$MDQFXFDMDQ@SHNMEQNL AHNL@RRCDBKHMDCAXODQBDMSVGDQD@RGXCQNDKDBSQHB ONVDQRS@SHNMRRTOOKHDC ODQ BDMSLNQD DKDBSQHBHSX HM SGDjQRSRHWLNMSGRNE
+NV DKDBSQHBHSX BNMRTLOSHNM @KRN HM MDHFGANTQHMF BNTMSQHDR@MCGHRSNQHB@KKXKNVM@STQ@KF@ROQHBDRKDCSN RHFMHjB@MSRGHESR HMSGD\$TQNOD@M DKDBSQHBHSX FDMDQ@SHNM structure.
&DQL@MX?R MDF@SHUD DKDBSQHBHSX DWBG@MFD A@K@MBD VHSG HSRMDHFGANTQHMFBNTMSQHDRV@RSGDQDENQDLTBGKNVDQHM SGDjQRSG@KENESG@MHMSGDR@LDODQHNCNESGDOQD-
UHNTRXD@Q
-NSNMKXCHCSGDUNKTLDNEDKDBSQHBHSXkNVHMF HMSN &DQL@MX EQNL @AQN@C HMBQD@RD RHFMHjB@MSKX ATS @KRNSGDkNVRNEDKDBSQHBHSXEQNL&DQL@MXSNMDHFGANTQing countries declined.
The shares of the various energy sources in the national DMDQFXLHW BNMSHMTDCSNRGHES HMSGD jQRS G@KE NE 6HSGSGD DWBDOSHNM NE QDMDV@AKDR @KK DMDQFX RNTQBDR recorded declines. Germany's overall energy supply is based on a broad range of energy sources.
The shares of the various energy sources in the national DMDQFXLHWRGHESDCHME@UNTQNEQDMDV@AKDR@MCM@STQ@K F@R HMSGD jQRS G@KE NE VHSG NUDQ@KK BNMRTLOSHNM RHFMHjB@MSKXKNVDQ@R@ QDRTKSNESGDBNQNM@O@MCDLHB ,HMDQ@K NHK L@HMS@HMDC @ LNQD NQ KDRR RS@AKD RG@QD NE SGDL@QJDSVGDQD@RSGDRG@QDRNEG@QCBN@K@MCKHFMHSD BNMSHMTDCSNCDBQD@RDRHFMHjB@MSKX
2SHKK@AQN@CDMDQFX LHWBNMSHMTDRSNBG@Q@BSDQHRDSGDL@QJDS
Evolution of the shares of energy sources in primary energy consumption 3GDjQRSG@KE XD@QHM&DQL@MXlBG@MFDRHMODQBDMS
3GDB@OHS@KL@QJDSSQDMC@SSGDDMCNEB@QQHDCNM SNSGDADFHMMHMFNESGDjQRSG@KENEB@TRHMFL@MX HMCHBDRSNONRSMDVGHFGR
6HSGSGDRHFMHjB@MSHMBQD@RDHMFKNA@K".5(# HMEDBtion rates and the recognition that the disease is not @ G@QLKDRR UHQTR ATS Q@SGDQ @ FKNA@K O@MCDLHB RSNBJ OQHBDR@QNTMCSGDVNQKCOKTLLDSDCCQ@L@SHB@KKX
6HSGHM ITRS@EDVVDDJRRNLDNESGDL@INQKD@CHMFHMCHBDRKNRS VDKKNUDQODQBDMSNESGDHQL@QJDSU@KTD
Current forecasts by the European Union for the eu-QNYNMDOQDCHBS@RKTLO HMDBNMNLHBNTSOTSNE@QNTMC ODQBDMSHMVGDQDAXSGD&DQL@MDBNMNLX@S @QNTMC
ODQBDMSHRDWODBSDCSNRKNVCNVMRKHFGSKX KDRRSG@MSGDQDRSNESGDDTQNYNMD
RHFMHjB@MSRTQFDHM FQNVSG HRMNSDWODBSDCTMSHKVHSGSGDDBNMNLHB level of 2019 not expected to be reached until 2022.
To mitigate the economic consequences of the pandemic, the ECB's corporate bond purchase pro-FQ@LLDV@RL@RRHUDKXHMBQD@RDC@MCDWO@MCDC
3GD bond purchase programme PEPP (Pandemic Emergency Purchase Programme) has a volume of EUR 1.35 trillion and has been extended until the end of June 2021. 4MCDQSGD/\$//SGD\$TQNOD@M"DMSQ@K!@MJ@BPTHQDR FNUDQMLDMSANMCREQNLDTQNYNMDBNTMSQHDRVGHBGBTQ-QDMSKXADMDjSRO@QSHBTK@QKXG@QC GHSDBNMNLHDRRTBG@R Italy.
3GD #NV )NMDR (MCDW RS@QSDC SGD SQ@CHMF XD@Q @S ONHMSR @MC DUDM QDBNQCDC @ MDV @KK SHLD GHFG of 29,552 points in mid-February. As the pandemic RHST@SHNMVNQRDMDCSGD HMCDWVDMSNMSN KNRD @QNTMC ONHMSRAXSGDDMCNE,@QBG
!X)TMD SGD VNQKC?R LNRS HLONQS@MS RSNBJ L@QJDS A@QNLDSDQ reached 25,824 points and had already made up most NESGD KNRRDR
.M TFTRSSGDL@QJDSBKNRDC @SONHMSRVGHBGV@RSGDR@LD KDUDK @R @SSGD beginning of the year.
3GDODQENQL@MBDNESGD\$TQNOD@MRSNBJL@QJDSRV@R RHLHK@QSNSG@S NESGD #NV )NMDR TMSHKSGD DMC NE T-FTRS
3GD HMHSH@KRG@QO QHRD HMRSNBJOQHBDR@SSGD ADFHMMHMF NE SGD XD@Q V@R ENKKNVDC AX L@RRHUD OQHBD RKTLOR HM SGD V@JD NE O@MCDLHB CDUDKNOLDMSR @MC SGDHQ DBNMNLHB HLO@BS
3GD DWOQDRRDC ONKHSHB@K VHKKSN adopt further billion-euro monetary policy measures if necessary, also ultimately fuelled the indices in Europe, VGHBGAXSGDDMCNE TFTRSKHJDSGD#NV)NMDR had almost reached the same levels they had at the start of the year.
&DQL@MX?R ADMBGL@QJ # 7 HMCDW RS@QSDC SGD SQ@CHMFXD@Q@SONHMSR@MCL@QJDC@MDV@KK SHLD high of 13,789 points by mid-February 2020. After los-HMFNUDQODQBDMSNEHSRU@KTDAXLHC ,@QBGSGD# 7 HMCDWADF@M@OQNMNTMBDCATKKL@QJDS
!XSGDDMCNE August 2020, the index had already reached the 13,000 KDUDKVGHBGV@RBKNRDSNHSRKDUDK@SSGDRS@QSNESGDXD@Q
3GD!KNNLADQF"NLLNCHSX(MCDWV@R @KRN TM@AKDSN DRB@OD SGD FKNA@K CNVMSTQM NM SGD B@OHS@K L@QJDSR B@TRDC AXSGD O@MCDLHB
%NKKNVHMF @ GHFG NE @QNTMC 80.89 points at the beginning of 2020, it reached its KNVDRSONHMSNE@QNTMC
ONHMSRNM OQHK Similar to the international indices, the Commodity In-CDWQDBNUDQDCRSD@CHKXSGDQD@ESDQATS@S@RKHFGSKXRKNVDQ pace, reaching 64.55 points at 30 June 2020. By 31 TFTRSSGD"NLLNCHSX(MCDWV@R@AKDSNBKHLA to 73.20 points.
3GDRG@QDOQHBDNE',2!DQFA@T & QDL@HMDCRS@AKD @F@HM CDROHSD SGD STQATKDMBD NM SGD B@OHS@K L@QJDSR ESDQSGDRG@QDV@RPTNSDC @S\$41
NMSGD K@RS trading day of 2019, the share price reached an all-time high of EUR 24.20 at the end of June 2020. On 31 Au-FTRS ',2!DQFA@T & RG@QDR VDQD PTNSDC @S \$41
lL@QJHMF@M@KLNRSODQBDMS HMBQD@RD compared to the beginning of the reporting period on 1 January 2020.
3GDL@QJDS B@OHS@KHR@SHNM NE ',2!DQFA@T & @SSGD ADFHMMHMFNESGDSQ@CHMFXD@QV@R\$41
LHK-
KHNM
ESDQSQ@CHMFNMSGD%Q@MJETQS2SNBJ\$WBG@MFD@S SHLDR@SITRSTMCDQ\$41LHKKHNM',2!DQFA@T & QD@BGDC@L@QJDSB@OHS@KHR@SHNM@R@S TFTRS NE@QNTMC\$41
LHKKHNM
KKHM@KKSGD',2!DQFA@T share once again continued the positive performance it has sustained for a number of years.
3GDRG@QDRNE',2!DQFA@T &G@UDADDMKHRSDCNMSGD !@RHB!N@QCNESGD%Q@MJETQS2SNBJ\$WBG@MFDRHMBDSGD ADFHMMHMFNE,@QBG
R @S #DBDLADQ SGD RG@QD B@OHS@K NE ',2 !DQFA@T & BNMRHRSDC NE RG@QDR VHSG @ nominal value of EUR 1.00 each for a total of EUR 4,590,588.00. ERAG Energie und Rohstoff AG holds ODQ BDMS NESGD RG@QDR @MC +@5N 5DQV@KSTMFR-FDRDKKRBG@ESLA'GNKCR
ODQBDMS
SNS@KNE ODQ BDMS HRRSHKKGDKCAX',2!DQFA@T & @RSQD@RTQX RSNBJ@MC
ODQBDMSHR@SSQHATS@AKDSNSGDEQDDkN@S
3GD MMT@K&DMDQ@K,DDSHMFNE',2!DQFA@T &V@R GDKC@R@UHQST@KFDMDQ@KLDDSHMF@MCSNNJOK@BDNM September 2020. The meeting's agenda included the proposed resolutions on the appropriation of unappro-OQH@SDCQDS@HMDCD@QMHMFRSGDCHRBG@QFDNESGD,@M@FD-
ment Board and Supervisory Board and the election of SGD@TCHSNQ
UNSDV@R@KRNS@JDMNMSGDQDRNKTSHNM@T-SGNQHRHMFSGD@BPTHRHSHNMNESQD@RTQXRG@QDR
MDVBNL-ONRHSHNMNESGD2TODQUHRNQX!N@QCV@R@KRNNMSGD@FDM-C@
%NQDW@LOKD'DHMY2BGDQMHJ@TSGDENTMCDQNE',2 !DQFA@T &QDRHFMDCEQNLSGD,@M@FDLDMS!N@QC@R planned at the end of June 2020 in order to regulate the future fate of the Company from the Supervisory Board. !DRHCDR'DHMY2BGDQMHJ@T@MC#QG
B
,HBG@DK!ĔQKDHM MDVLDLADQ/@SQHBJ!Q@MCKV@RDKDBSDCSNSGD2TODQ-UHRNQX!N@QCAXSGD MMT@K&DMDQ@K,DDSHMF
SSGD2Tpervisory Board meeting held after the Annual General ,DDSHMF 'DHMY 2BGDQMHJ@T V@R DKDBSDC "G@HQL@M NE SGD2TODQUHRNQX!N@QC@MC#Q
G
B
,HBG@DK!ĔQKDHMV@R elected Deputy Chairman of the Supervisory Board.
| Basic data | |
|---|---|
| (2(-6*- | #\$ |
| 3HBJDQRXLANK | ',4 |
| Bloomberg symbol: | ',4&8 |
| Reuters symbol | ',4& #\$ |
| ,@QJDSRDFLDMS3Q@MRO@QDMBXKDUDK | .ODM,@QJDS!@RHB!N@QC |
| #DRHFM@SDCRONMRNQ+HRSHMFO@QSMDQ | .##.!'% JSHDMFDRDKKRBG@ES |
| Investor Relations | &%\$( JSHDMFDRDKKRBG@ES |
| Share capital | EUR 4,590,588.00 |
| Number of shares | 4,590,588 |
| %QDDkN@S | 22.86 % |
| 2G@QDOQHBDNM#DBDLADQ7DSQ@BKNRHMFOQHBD | EUR 19.10 |
|---|---|
| 2G@QDOQHBDNM)TMD7DSQ@BKNRHMFOQHBD | EUR 23.80 |
| 2G@QDOQHBD@RNE TFTRS7DSQ@BKNRHMFOQHBD | EUR 21.00 |
| ,@QJDSB@OHS@KHR@SHNMNM#DBDLADQ | EUR 87,680,231 |
| ,@QJDSB@OHS@KHR@SHNMNM)TMD | EUR 109,255,994 |
| ,@QJDSB@OHS@KHR@SHNMNM TFTRS | EUR 96,402,348 |
3GD',2!DQFA@T&QNTOHR@FKNA@KKX@BSHUDFQNTONE companies that serve as trading and distribution part-MDQR ENQ QDMNVMDC HMSDQM@SHNM@K DKDBSQHBHSX OQNCTBDQR BDLDMS L@MTE@BSTQDQR @MC HMCTRSQH@K BNMRTLDQR VHSG BN@K@MCDMDQFXQ@VL@SDQH@KRRTBG@RRSD@LBN@KBNJ-HMFBN@K@MCBNJDOQNCTBSR@RVDKK@RNSGDQQ@VL@SDrials such as ore, cement and fertilisers.
(MSGD jQRS G@KE NE ',2!DQFA@T & BNMSHMTDC its strategy of business expansion to include addition- @KQ@VL@SDQH@KRRTBG@RNQDBDLDMS@MCNHKOQNCTBSR @MCOK@MRSNCDUDKNOHMSN@MHMSDQM@SHNM@KQ@VL@SDQH@K trading company. The focus of its activities remains the BN@K ATRHMDRR
',2 !DQFA@T & G@R RODMS CDB@CDR ATHKCHMFHSRVHCDKXQDBNFMHRDCDWODQSHRDSGQNTFGNTSSGD entire value chain from mining to logistics to customer deliveries. A total of 90 per cent of the coal exported by ',2!DQFA@T &HRTRDCHMSGDHMCTRSQH@KRDBSNQL@HMKX HMBDLDMSOQNCTBSHNM@RVDKK@RHMRSDDKO@ODQ@MCRTFar plants. Only about 10 per cent of the quantities are TRDCHMONVDQOK@MSR
(S HRVNQSGGHFGKHFGSHMFSG@S',2!DQFA@T &DWONQSR about 90 per cent of its products to developing coun-SQHDR HMBKTCHMF !@MFK@CDRG /@JHRS@M 5HDSM@L "GHM@ @MC (MCH@
3GDRD BNTMSQHDR HMBKTCHMF "GHM@ VDQD DW-DLOSDCHMSGD/@QHR"KHL@SD FQDDLDMSEQNLSGDVNQKC-VHCDCDBHRHNMRSNQDCTBD".£HMSGDHMSDQDRSNESGDBKHmate. The rationale for the exception of these countries V@RSGDHQK@BJNE@KSDQM@SHUDRSNSGDA@RHBDMDQFXRTOOKX NE BN@K
3GDRD BNTMSQHDR NESDM K@BJ ANSG SGD jM@MBH@K QDRNTQBDR @MC RTEjBHDMS B@O@BHSX ENQ VHMC @MC RNK@Q energy. For this reason, all UN resolutions support developing countries in their use of fossil fuels until viable alternatives are available. By supplying these countries, VD BNMSQHATSD SN SGDHQ DBNMNLHB CDUDKNOLDMS @MC SGTRL@JD@M@BSHUD@KADHSHMCHQDBSBNMSQHATSHNMSNSGD achievement of the Paris Climate Agreement.
',2!DQFA@T &RDDJRSNG@UDHSRNODQ@SHNM@K@BSHU-HSHDR BDQSHjDC @R BKHL@SD MDTSQ@KAXSGDXD@Q
%NQ this purpose, independent analysts have determined MNS NMKXSGD ".£ A@K@MBD NESGD ',2 &QNTO HMBKTC-HMF@KKHSRKNB@SHNMRATS@KRNSGD".£ENNSOQHMS
3GD".£ DLHRRHNMR B@KBTK@SDC HM SGHR L@MMDQ VGHBG HMBKTCDR E@BSNQRRTBG@RDMDQFX@MCV@SDQBNMRTLOSHNMSQ@UDK DWODMRDRSGDBNLO@MX?RNVMSQ@MRONQSNEFNNCR@R VDKK @RSGD BNLLTSHMF ADG@UHNTQ NE HSR @OOQNWHL@SDKX DLOKNXDDRVHKKADNEERDSHLLDCH@SDKXNM@M@MMT@K basis. In order to compensate for this, shares are ac-PTHQDCHMHMSDQM@SHNM@KBKHL@SDOQNSDBSHNMOQNIDBSRVGHBG are reported according to Gold Standards and aim at a RTRS@HM@AKD QDCTBSHNM HMFQDDMGNTRDF@RDRVGHKDRTOporting the UN's climate goals.
3GD',2!DQFA@T&QNTOG@RATHKSTO@MHMSDQM@SHNM@K MDSVNQJ NE KNMF RS@MCHMF ATRHMDRR O@QSMDQR @MC BNMsistently pursues its philosophy of establishing long-SDQL @MC OQNjS@AKD ATRHMDRR QDK@SHNMRGHOR VHSG HMSDQnational producers and consumers. The internationality NESGD',2!DQFA@T&QNTOHR@KRNTMCDQRBNQDCAXHSR RTARHCH@QHDR',2!DQFA@T EQHB@/SX+SC
',2!DQF-A@T 2HMF@ONQD /SD +SC
/3 ',2!DQFA@T (MCNMDRH@ @MC',2!DQFA@T42 "NQO
3GD BNQONQ@SD RSQTBSTQD NE SGD ',2 !DQFA@T &QNTO @MCHSRL@INQRTARHCH@QHDR@R@S)TMDV@R@R ENKKNVR
2NTQBD',2!DQFA@T &
The results of operations NESGD ',2 &QNTO HMSGD jQRS G@KE NE SGD jM@MBH@K XD@Q BNLO@QDC SN SGD R@LDODQHNCHMVDQD@RENKKNVR
| 30/06/2020 EUR thousand |
% | 30/06/2019 EUR thousand |
% | Change EUR thousand |
% | |
|---|---|---|---|---|---|---|
| Revenues | 129,531 | 100 | 117,157 | 100 | 12,374 | 11 |
| Total performance | 129,531 | 100 | 117,157 | 100 | 12,374 | 11 |
| Cost of materials | 125,807 | 97 | 113,278 | 97 | 12,529 | 11 |
| Personnel costs | 1,166 | 1 | 895 | 1 | 271 | 30 |
| Depreciation and amortisation | 40 | 0 | 39 | 0 | 1 | 3 |
| Other operating expenses | ||||||
| NSGDQNODQ@SHMFD@QMHMFR | 1,894 | 2 | 2,192 | 2 | -298 | -14 |
| Tax expenses | 2 | 0 | 2 | 0 | 0 | 0 |
| Operating expenses | 128,909 | 100 | 116,406 | 99 | 12,503 | 11 |
| Operating result | 622 | 1 | 751 | 1 | -129 | -17 |
| \$@QMHMFREQNLHMUDRSLDMS@MCjM@MBH@KQDRTKS | -342 | -321 | -21 | -7 | ||
| Sale of shares | 0 | 0 | 0 | |||
| Allocation to pension provisions NE@KKNB@SHNMTMCDQ&DQL@M BBNTMSHMF+@V,NCDQMHR@SHNM BS:!HK,N&< |
-111 | -111 | 0 | 0 | ||
| Earnings before income taxes | 169 | 319 | -150 | -47 | ||
| Extraordinary expenses | 0 | 0 | 0 | |||
| Income taxes | -48 | 0 | -48 | - | ||
| -DSOQNkS | 121 | 319 | -198 | -62 |
*EUR 607 thousand half-year result excluding EUR 486 thousand in pension provisions (as at 30 June 2019: EUR 427 thousand in pension provisions)
3GD ',2 &QNTO?R QDRTKSR NE NODQ@SHNMR VDQD GHFG-DQ HMSGD jQRS G@KE NE SG@M HMSGD R@LD ODQHNC NE the previous year. Further increases in trading volumes more than compensated for the relatively sharp drop in BNLLNCHSXOQHBDR
2@KDRNESGD',2!DQFA@T&QNTOHMcreased by 11 per cent from EUR 117.2 million to EUR 129.5 million. The cost of materials ratio remained stable in percentage terms. The cost of materials amounted to EUR 125.8 million in the reporting period, compared to \$41
LHKKHNM HMSGD jQRS G@KE NE
/DQRNMMDK BNRSRHMBQD@RDCSN\$41SGNTR@MCHMSGDjQRSRHW LNMSGRNESGDBTQQDMSjM@MBH@KXD@QBNLO@QDCSN EUR 895 thousand in the same period of the previous XD@QL@HMKXCTDSNSGDHMSDQM@SHNM@KDWO@MRHNMNE',2 Bergbau AG.
R@S)TMDSGD',2&QNTOFDMDQ@SDC@MDS OQNjS NE \$41 SGNTR@MC BNLO@QDC SN \$41 SGNTR@MCHMSGDjQRSG@KENE
3GDL@HMQD@RNMENQ SGDCDBKHMDHMOQNjSV@RSGDDWO@MRHNMHMODQRNMMDK@MC the associated costs. Other reasons include the more intense price competition resulting from the global economic crisis and the sharp drop in commodity prices.
The net assets NESGD',2&QNTO@R@S)TMD BNLO@QDCSN#DBDLADQVDQD@RENKKNVR
| 30/06/2020 EUR thousand |
% | 31/12/2019 EUR thousand |
% | Change EUR thousand |
% | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Non-current assets | 16,728 | 39 | 15,337 | 30 | 1,391 | 9 |
| Inventories | 0 | 0 | 0 | 0 | 0 | |
| Receivables | 20,490 | 47 | 27,554 | 54 | -7,064 | -26 |
| Cash and cash equivalents | 3,069 | 7 | 5,077 | 10 | -2,008 | -40 |
| Other assets | 2,949 | 7 | 3,152 | 6 | -203 | -6 |
| 43,236 | 100 | 51,120 | 100 | -7,884 | -15 | |
| Capital | ||||||
| Shareholders' equity | 15,391 | 36 | 15,706 | 31 | -315 | -2 |
| .VMRG@QDR | -399 | -1 | -406 | -1 | 7 | -2 |
| Non-current liabilities | 8,079 | 19 | 7,713 | 15 | 366 | 5 |
| Current liabilities | 20,165 | 47 | 28,107 | 55 | -7,942 | -28 |
| 43,236 | 100 | 51,120 | 100 | -7,884 | -15 |
3GDSNS@K@RRDSRNE',2!DQFA@T &@LNTMSDCSN\$41 43.2 million as at the 30 June 2020 reporting date, VGHBGV@RQNTFGKX\$41
LHKKHNMKNVDQSG@MSGDKDUDK of EUR 51.1 million as at 31 December 2019. This de-BKHMDV@RCTDSN@RG@QO QDCTBSHNM HM QDBDHU@AKDR@MC a simultaneous reduction in current liabilities. These CDBKHMDRVDQDOQHL@QHKXQDONQSHMFC@SD QDK@SDC@MMT@KKX recurring effects.
Non-current assets amounted to EUR 16.7 million as at 30 June 2020 (31 December 2019: EUR 15.3 million). As a result of the reduction in receivables, current assets decreased to EUR 26.5 million as at 30 June 2020 (31 December 2019: EUR 35.8 million). Liquidity amounted to EUR 3.1 million as at 30 June 2020, compared to EUR 5.1 million as at 30 June 2019.
On the liabilities side, equity remained almost unchanged in absolute terms at EUR 15.0 million as at 30 June 2020 (31 December 2019: EUR 15.3 million). 3GDDPTHSXQ@SHNHLOQNUDCRHFMHjB@MSKX@RNESGDQDONQSing date to a level of 36 per cent compared to 31 per BDMS
"TQQDMS KH@AHKHSHDR @KRN BG@MFDC RHFMHjB@MSKX @MC declined by EUR 7.9 million to EUR 20.2 million (31 December 2019: EUR 28.1 million).
All other balance sheet items recorded only slight changes due to postings as at the reporting date.
3QTRSVNQSGXRS@AKDATRHMDRRQDK@SHNMRGHORVHSGBTRSNLers and suppliers form the foundation of the success-ETK HMSDQM@SHNM@KSQ@CHMF @BSHUHSHDR NESGD ',2!DQFA@T Group.
3GDOQHL@QXBTRSNLDQRNESGD',2!DQFA@T&QNTOHMclude industrial companies, steel and cement producers @MC ONVDQ OK@MS BNLO@MHDR
"TRSNLDQR @KRN HMBKTCD HMCTRSQH@K BNLO@MHDR RTBG @R FK@RRVNQJR O@ODQ LHKKR @MCV@RSDOQNBDRRHMFOK@MSR
.TQBKHDMSDKDBNMRHRSRNE OQHU@SD @R VDKK @R RS@SD NVMDC BNLO@MHDR EQNL RH@ \$TQNODSGD,HCCKD\$@RS@MC EQHB@
',2 !DQFA@T &QNTO BNNODQ@SDR VHSG QDMNVMDC @MC reliable producers, mainly located in Indonesia, South Africa, Russia, Poland, and North and South America. (M @CCHSHNM VD @QD QDRONMRHAKD ENQ SGD QDOQDRDMS@SHNM NERDKDBSDCHMSDQM@SHNM@KBN@KOQNCTBDQR
',2!DQFA@T &QNTO@KRNG@MCKDRSGDBNLOKDSDL@QJDSHMFNEBN@KHM RDKDBSDCL@QJDSR
In order to increase our coverage of mining to logistics @MCCDKHUDQXSNSGDBTRSNLDQVHSGHMSGDU@KTDBG@HM@MC SNDMRTQDETSTQDRTOOKXRDBTQHSXHMSGDE@BDNEFQNVHMF DMDQFXCDL@MCHMUDRSLDMSRHMNTQNVMQDRNTQBDR@QD indispensable. In this context, investments in exclusive L@QJDSHMF@FQDDLDMSRL@JDO@QSHBTK@QDBNMNLHBRDMRD ENQ',2!DQFA@T &
The expansion of global trade to include other commodities is expected to represent a further important OHKK@QNE',2!DQFA@T &HMSGDLDCHTLSDQL
3GDBNM-RS@MSKXFQNVHMFCDL@MCENQ@VHCDU@QHDSXNEBNLLNC-HSHDR EQNL ANSG NTQ DWHRSHMF @MC MDV BTRSNLDQR HR HM-SDMCDCSNADNEEDQDC@MCBNUDQDCAXSGD',2!DQFA@T RSQTBSTQDR
-DVL@QJDSR DRODBH@KKX HMSGD42 RH@ EQHB@@MCSGD,HCCKD\$@RS@QDSGDENBTRNE@SSDMSHNMSN enable us to continuously open up and develop existing @MCMDVRNTQBHMFL@QJDSRENQ',2!DQFA@T &
3GHR RSQ@SDFXNEGNQHYNMS@KHMSDFQ@SHNMV@R@KRNBNMRHRSDMSKX OTQRTDCHMSGDjM@MBH@KXD@Q
3GDDWHRSHMFMDSVNQJ @MCDWODQSHRDATHKSTONUDQSGDXD@QR@RVDKK@ROQNUDM transport alternatives, are not only used for the com-O@MX?RBN@K@BSHUHSHDRATS@KRNHMBQD@RHMFKXENQNSGDQQ@V materials and products such as ores, metals, cement OQNCTBSR@MCODSBNJD
3GHRRSQ@SDFXNEEDQRSGD@CU@M-S@FDNEGHFGDQTSHKHR@SHNMNEDWHRSHMFB@O@BHSHDR@RVDKK@R @E@UNTQ@AKDNTSKNNJHMSDQLRNEQHRJCHUDQRHjB@SHNM@MC gross margins.
3GDRG@QDNECDKHUDQHDRSNMNM ONVDQOK@MSBTRSNLDQRHR also constantly on the rise. In 2019, more than 90 per BDMSNECDKHUDQHDRVDQDL@CDSNHMCTRSQHDRHMVGHBGBN@K or its ashes are used as materials and can therefore be substituted only to a limited extent. The steel and ce-LDMSHMCTRSQHDROK@X@JDXQNKDHMNTQBTRSNLDQONQSENKHN
3GD',2!DQFA@T&QNTONEEDQRHSRBTRSNLDQR@MCATRHness partners a complete range of services from the SHLDKXRTOOKXNE Q@VL@SDQH@KRSNNQF@MHRHMFSGD DMSHQD transport logistics. The service portfolio of our highly professional and experienced team ranges from the chartering of ships, the organisation of inland transpor-S@SHNMONQSG@MCKHMFV@QDGNTRDL@M@FDLDMS @RVDKK as coal preparation to technical monitoring, as required.
%NQ DW@LOKDSGD ',2 !DQFA@T &QNTO HM 2NTSG EQHca organises all of the logistics needs for its partners lEQNLSQTBJSQ@MRONQSSNQ@HKSQ@MRONQS@MCONQSG@MCKHMF – thereby providing a high degree of delivery reliability to its suppliers and customers.
3GDQDVDQDMNL@SDQH@KDUDMSR@ESDQSGDQDONQSHMFC@SD
| 30/06/2020 | 31/12/2019 | ||||
|---|---|---|---|---|---|
| EUR | EUR | EUR | |||
| A. | Non-current assets | ||||
| I. | Intangible assets | ||||
| 1. | Licences, industrial property rights, similar rights and values and licences in such rights and values |
2,703.06 | 5,024.27 | ||
| 2. | Company value | 292,894.77 | 309,792.55 | ||
| 295,597.83 | 314,816.82 | ||||
| II. | Fixed assets | ||||
| 1. | .SGDQDPTHOLDMSNEjBD@MC factory equipment |
44,584.43 | 46,589.38 | ||
| 2. | Technical equipment and machinery | 75,569.08 | 104,793.17 | ||
| 3. | Advance payments and assets under construction |
6,618,688.25 | 6,289,673.21 | ||
| 6,738,841.76 | 6,441,055.76 | ||||
| III. Financial assets | |||||
| 1. | Shares in associated companies | 12,500.00 | 443,230.59 | ||
| 2. | Other loans receivable | 9,680,819.43 | 8,138,008.78 | ||
| 9,693,319.43 | 8,581,239.37 | ||||
| 16,727,759.02 | 15,337,111.95 | ||||
| B. | Current assets | ||||
| I. | Inventories | ||||
| 1. | Products | 0.00 | 0.00 | ||
| II. | Receivable and other assets | ||||
| 1. | Trade receivables | 20,490,016.87 | 27,410,957.50 | ||
| 2. | Receivables from associates | 0.00 | 142,397.34 | ||
| 3. | Other assets | 1,473,036.73 | 1,703,298.33 | ||
| 21,963,053.60 | 29,256,653.17 | ||||
| III. Cash-in-hand and bank deposits | 3,068,538.06 | 5,077,159.40 | |||
| 25,031,591.66 | 34,333,812.57 | ||||
| C. | Accruals and deferrals | 116,769.34 | 89,504.36 | ||
| D. | Deferred taxes | 1,359,750.28 | 1,359,750.28 | ||
43,235,870.30 51,120,179.16
Liabilities
| 30/06/2020 | 31/12/2019 | |||
|---|---|---|---|---|
| EUR | EUR | EUR | ||
| A. | Shareholders' equity | |||
| I. | Subscribed equity | 4,543,074.00 | 4,542,774.00 | |
| II. | Capital reserve | 9,661,592.07 | 9,654,752.07 | |
| 14,204,666.07 | 14,197,526.07 | |||
| III. /QNkSQDRDQUDR | ||||
| 1. Statutory reserve |
5,112.92 | 5,112.92 | ||
| 2. .SGDQOQNjSQDRDQUDR |
273,158.45 | 273,158.45 | ||
| 278,271.37 | 278,271.37 | |||
| IV. Contributions made to implement the capital increase |
0.00 | 0.00 | ||
| V. | Consolidated net loss | -1,161,137.91 | -1,324,939.75 | |
| VI. Exchange differences | -1,053,784.88 | -617,342.17 | ||
| VII.Minority interests | 2,723,339.73 | 2,766,386.94 | ||
| 508,416.94 | 824,105.02 | |||
| 14,991,354.38 | 15,299,902.46 | |||
| B. Difference from capital consolidation | 0.00 | 0.00 | ||
| C. | Provisions | |||
| 1. Pension provisions and similar obligations |
8,079,206.27 | 7,712,832.11 | ||
| 2. Tax provisions |
504,997.48 | 578,015.24 | ||
| 3. Other provisions |
243,587.82 | 356,552.28 | ||
| 8,827,791.57 | 8,647,399.63 | |||
| D. | Liabilities | |||
| 1. +H@AHKHSHDRSNA@MJR |
1,918,979.17 | 6,075,163.28 | ||
| 2. Advance payments received |
0.00 | 1,178,263.91 | ||
| 3. Trade payables |
17,112,302.14 | 17,769,279.80 | ||
| 4. Liabilities to shareholders |
212,961.06 | 456,921.66 | ||
| 5. Other liabilities |
172,481.98 | 1,693,248.42 | ||
| 19,416,724.35 | 27,172,877.07 | |||
| E. | Accruals and deferrals | 0.00 | 0.00 |
43,235,870.30 51,120,179.16
| 30/06/2020 | 30/06/2019 | ||
|---|---|---|---|
| EUR | EUR | ||
| 1. | Sales | 129,530,732.17 | 117,156,881.07 |
| 2. | Other operating earnings | 28,431.57 | 49,091.28 |
| 129,559,163.74 | 117,205,972.35 | ||
| 3. | Cost of materials | ||
| "NRSRENQQ@VL@SDQH@KR@MCRTOOKHDR@MC for goods purchased |
-125,806,843.76 | -113,278,061.78 | |
| Cost for services purchased | 0.00 | 0.00 | |
| -125,806,843.76 | -113,278,061.78 | ||
| 4. | Personnel costs | ||
| a) Wages and salaries |
-1,084,074.71 | -733,687.89 | |
| b) Social security costs and pension support costs |
-82,214.14 | -160,954.74 | |
| -1,166,288.85 | -894,642.63 | ||
| 5. | Depreciation and amortisation | ||
| Amortisation of intangible assets and CDOQDBH@SHNMNEjWDC@RRDSR |
-39,971.73 | -38,922.14 | |
| 6. | Other operating expenses | -2,033,658.47 | -2,352,317.12 |
| 7. | Other interest and similar earnings | 186,980.54 | 232,075.90 |
| 8. | #DOQDBH@SHNMNEjM@MBH@K@RRDSR@MC securities held as current assets |
0.00 | 0.00 |
| 9. | Interest and similar expenses | -528,918.45 | -553,693.72 |
| 10. | Earnings from ordinary activities | 170,463.02 | 320,410.86 |
| 11. | Income taxes | -47,887.83 | 0.00 |
| 12. | Other taxes | -1,820.56 | -1,875.87 |
| 13. | -DSOQNkSENQSGDODQHNC(1) | 120,754.63 | 318,534.99 |
| EBITDA | 552,372.66 | 680,950.82 |
(1) EUR 607,128.79 half-year result excluding EUR 486,374.16 in pension provisions as at 30 June 2019: EUR 427,436.52 in pension provisions)
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updated: September 2020
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