German commodities trader HMS Bergbau H1 revenue rises on bulk, fuels growth

By Reuters News


Overview

  • Germany commodities trader's H1 2026 revenue rose to EUR 1.1 bln, up from prior year

  • Adjusted EBITDA for H1 2026 was EUR 14.1 mln, after one-off consolidation effects

  • Growth driven by bulk commodities and liquid fuels businesses, plus expansion in metal ores


Outlook

  • Company says it expects continued high demand for coal in emerging and developing economies

  • Company notes IEA now forecasts 2026 global coal consumption to rise 1.2% to nearly 9 bln tonnes


Result Drivers

  • BULK COMMODITIES AND LIQUID FUELS - Co said growth was primarily driven by its traditional bulk commodities business and the liquid fuels and lubricants segment established in 2025

  • COAL DEMAND - HMS benefited from sustained high demand for coal products in emerging and developing economies

  • METAL ORES EXPANSION - Co expanded activities in metal ores and brought metallurgical coal mines in Botswana and South Africa into operation


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Sales

EUR 1.10 bln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the coal peer group is "buy."

  • Wall Street's median 12-month price target for HMS Bergbau AG is €85.00, about 121.9% above its September 29 closing price of €38.30

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Sept 30 - Glencore wins approval to extend Hunter Valley coal operations in Australia

  • Sept 28 - Chinese carmakers will offset auto steel demand decline in Europe, Thyssenkrupp steel boss says

  • Sept 29 - Germany's 2G Energy H1 output falls 4.7% on fewer Ukraine orders, EBIT margin declines


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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