Coal trader, HMS Bergbau, achieved a profit of €0.2 million in the 2015 financial year (FY2015), despite continued falls in the price of coal on global markets as the company boosted volumes and diversified into other raw materials, including ores, metals and cement products.
Prices on the international coal market fell by roughly 20% in 2015, while HMS Bergbau suffered only an 8.6% fall in earnings in €117.6 million.
The company also said it expected to continue its positive results though 2016 with a recovery in ram materials markets anticipated from the 2Q16.
“Complimenting our business activities with other raw materials enables us to meet the requirements of our customers and deploy our operative expertise in the areas of mining, handling and trading,” said Heinz Schernikau, Founder and CEO of HMS Bergbau.
‘By expanding our business activities, we are able to maximize our capacities, diversify risk even further, boost gross margins and ultimately gain a competitive advantage.”
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/30062016/hms-bergbau-announces-fy2015-profit-2016-1043/