DGAP-Adhoc: SMT Scharf AG: Mine explosion in Russia affects SMT Scharf AG trains

SMT Scharf AG / Key word(s): Miscellaneous

02.10.2013 19:09

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Mine explosion in Russia affects SMT Scharf AG trains

Hamm, 2 October 2013 - As SMT Scharf AG (WKN/German Securities Number
575198, ISIN DE0005751986) learned today, a mine explosion took place on 23
September 2013 in the Kolmogorovskaya mine in the Kuzbass region of
Siberia, Russia, which affected two trains with a total value of approx.
EUR 1 million. These trains are the property of the SMT Scharf Group and
are currently being leased to the mine. The explosion took place on an
adjacent level. Based on current estimates, it will take at least six
months before the mine is accessible again and the trains can be salvaged
and repaired. The condition of the trains and the cost of the salvage and
repair work are currently unclear. Initial indications are that the damage
is not covered by insurance.

In view of this situation, the Executive Board of SMT Scharf AG has decided
to book EUR 400 k as provisions charged against income for damages, repairs
and legal costs. Consequential damages, for example due to liability, are
not anticipated.

This event will place a further burden on consolidated net income for the
2013 financial year. The sale of the 'Dosco' division in May 2013, which
was regarded as strategically prudent, has already resulted in a one-off
expense of around EUR 2 million for the company in the first half-year
2013. In view of the bleak economic outlook in the mining sector and the
already reported decline in revenues, the Executive Board of SMT Scharf AG
anticipates a significant fall in consolidated net income for the 2013
financial year compared with the previous year. The Executive Board will
provide more specific details about anticipated net income when the
financial results for the third quarter 2013 are published on 11 November.

Issuer: SMT Scharf AG
Römerstr. 104
59075 Hamm
Tel: +49(0)2381-960212
Fax: +49(0)2381-960311
Sector: Mechanical engineering
ISIN: DE0005751986
Securities ID no.: 575198
Stock markets: regulated market/prime standard: Frankfurt, outside markets:
Berlin-Bremen, Düsseldorf, Hamburg, Munich, Stuttgart

< End of ad hoc announcement>

Company profile

SMT Scharf Group develops, manufactures and services transport equipment
for underground mines. The main products are captivated railways that are
used all over the world, primarily in black coal mines, but also in mines
for gold, platinum and other metals. These are needed to transport material
and personnel with payloads of up to 45 tons on gradients of up to 35
degrees. SMT Scharf Group has subsidiaries in six countries and agents
worldwide. SMT Scharf generates more than 90 % of revenues in growing
foreign markets such as China, Russia and South Africa. Business with
replacement parts and repairs contributes about half of revenue. The entire
market for underground transport equipment is estimated to be EUR 5 to 7
billion per year. SMT Scharf AG has been listed in the Prime Standard
(Regulated Market) of the Frankfurt Stock Exchange since April 11, 2007.

Contacts

Investor Relations
cometis AG
Henryk Deter / Mark Appoh
Tel: +49(0)611 - 205855-21
Fax: +49(0)611 - 205855-66
Email: appoh@cometis.de

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Language: English
Company: SMT Scharf AG
Römerstrasse 104
59075 Hamm
Germany
Phone: +49 2381 960-01
Fax: +49 2381 960-230
E-mail: info@smtscharf.com
Internet: www.smtscharf.com
ISIN: DE0005751986
WKN: 575198
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service

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