SMT Scharf AG

  • WKN: 575198
  • ISIN: DE0005751986
  • Land: Deutschland

Nachricht vom 13.08.2019 | 16:17

Amendment to valuation guidelines for inventories in the 2019 consolidated financial statements

SMT Scharf AG / Key word(s): Miscellaneous
Amendment to valuation guidelines for inventories in the 2019 consolidated financial statements

13-Aug-2019 / 16:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Amendment to valuation guidelines for inventories in the 2019 consolidated financial statements

Hamm, August 13, 2019 - SMT Scharf AG (WKN 575198, ISIN DE0005751986) announces that it will change its valuation guidelines for inventories in its consolidated financial statements at the end of the 2019 fiscal year. The valuation period is being extended from one year to three years in order to compensate for business-related fluctuations in individual years and thereby achieve a presentation that better reflects the company's actual business performance. The amendment will be applied for the first time to the consolidated financial statements as of December 31, 2019, and from today's perspective is expected to have an effect of EUR 400,000.00 to EUR 900,000.00 in relation to changes in inventories and the cost of materials and thereby on the consolidated result. The half-year financial statements as of June 30, 2019 and the quarterly report as of September 30, 2019 have not yet been affected by the planned change in the valuation period.

If this valuation change falls within the scope of accounting standard IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, the amended valuation guidelines would be applied (retrospectively) to the previous 2018 fiscal year.


Company profile
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The main products are captivated railway systems that are deployed all over the world, primarily in hard coal mines, as well as in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tonnes and on gradients of up to 30 degrees. In addition, SMT Scharf supplies the mining sector with chairlifts. Through the newly acquired mining specialist RDH Mining Equipment, the company also offers rubber-tyred diesel and electric vehicles for mining and tunnel construction. As a leading supplier of battery-operated vehicles utilising lithium-iron technology for underground mining, RDH completes the portfolio of SMT Scharf with its varied product portfolio, ranging from front-end loaders and scissor lifts through to underground trucks. Overall, the SMT Scharf Group is active with subsidiaries in eight countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa. SMT Scharf AG has been listed in the Prime Standard (Regulated Market) of the Frankfurt Stock Exchange since 2007.


Contact
Investor Relations
cometis AG
Thorben Burbach
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de


13-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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