The company's top line is currently contracting by 5.06% year-over-year, while a reported net margin of 40.85% significantly exceeds the 29.25% gross margin, suggesting heavy reliance on non-operating items.
| Metric | Dec'23 | Dec'22 | Dec'21 |
|---|
| Sales/Revenue | 90.25M | 95.06M | 39.48M |
| Revenue Growth % | -5.06% | 140.78% | - |
| Cost of Goods Sold | 63.85M | 61.72M | 30.51M |
| COGS % of Revenue | 70.75% | 64.93% | 77.27% |
| Gross Profit | 26.4M | 33.34M | 8.97M |
| Gross Margin % | 29.25% | 35.07% | 22.73% |
| Gross Profit Growth % | -20.82% | 271.48% | - |
| Operating Expenses | -5.8M | 23M | 18.44M |
| OpEx % of Revenue | -6.42% | 24.19% | 46.71% |
| Selling, General & Admin | 25.12M | 18.34M | 14.15M |
| SG&A % of Revenue | 27.83% | 19.3% | 35.84% |
| Research & Development | 5.15M | 4.82M | 2.73M |
| R&D % of Revenue | 5.7% | 5.07% | 6.92% |
| Other Operating Expenses | -36.06M | 0 | 1.26M |
| Operating Income | 32.2M | 13.65M | -7.43M |
| Operating Margin % | 35.67% | 14.36% | -18.81% |
| Operating Income Growth % | 135.79% | 283.84% | - |
| EBITDA | 39.1M | 19.94M | -2.53M |
| EBITDA Margin % | 43.32% | 20.97% | -6.42% |
| EBITDA Growth % | 96.11% | 886.78% | - |
| D&A (Non-Cash Add-back) | 6.9M | 6.28M | 4.89M |
| EBIT | 50.82M | 19.41M | -4.07M |
| Net Interest Income | -6.21M | -13.66M | -14.78M |
| Interest Income | 3.88M | 4.09M | 3.24M |
| Interest Expense | 10.09M | 17.75M | 18.01M |
| Other Income/Expense | 8.54M | -11.99M | -14.65M |
| Pretax Income | 40.73M | 1.67M | -22.08M |
| Pretax Margin % | 45.13% | 1.75% | -55.93% |
| Income Tax | 2.78M | -1.92M | 5.2M |
| Effective Tax Rate % | 6.82% | -115.42% | -23.53% |
| Net Income | 36.87M | 1.55M | -24.45M |
| Net Margin % | 40.85% | 1.63% | -61.94% |
| Net Income Growth % | 2278.58% | 106.34% | - |
| Net Income (Continuing) | 37.95M | 3.59M | -27.28M |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 7.36M | 6.68M | 4.84M |
| EPS (Diluted) | 0.00 | 0.00 | 0.00 |
| EPS Growth % | - | - | - |
| EPS (Basic) | 0.00 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 0 | 0 | 0 |
| Basic Shares Outstanding | 0 | 0 | 0 |
| Dividend Payout Ratio | - | - | - |
Non-operating accounting volatility
As reported in recent financial disclosures, SCHMID Group experienced a 5.06% year-over-year revenue decline, reflecting the inherent volatility of project-based capital equipment sales within the semiconductor and solar manufacturing sectors, which remain highly sensitive to regional industrial policy shifts and global electronics utilization rates.
The reported revenue contraction suggests that the company is currently navigating a challenging CAPEX cycle where large-scale turnkey orders are being deferred. Investors should monitor whether this decline is a temporary lull in project timing or a structural loss of market share to more aggressive competitors in the Asian manufacturing hub.
Based on the company's recent filings, the reported net margin of 40.85% significantly exceeds the gross margin of 29.25%, which strongly suggests that non-operating items, likely related to SPAC-related warrant revaluations, are currently inflating the bottom line and obscuring the underlying performance of the machinery business.
This mathematical anomaly indicates that the reported net income is not a reliable proxy for operational profitability. Analysts should strip away these non-cash financial adjustments to evaluate whether the core engineering business can sustain profitability without the benefit of one-time accounting gains.
According to the provided operational data, the company maintains a high fixed-cost structure driven by intensive R&D requirements and specialized German engineering talent, which leaves the 29.25% gross margin vulnerable to inflationary pressures in energy and raw material costs that may be difficult to pass through.
The reliance on specialized components and high-grade materials suggests that SCHMID lacks the pricing flexibility of larger peers. Any sustained increase in German industrial energy costs could further compress margins, as the company's long-lead-time contracts may lack the necessary clauses to offset these rising input expenses.
While management highlights the potential of Vanadium Redox Flow Battery technology, the company's reliance on project-based revenue, as noted in recent corporate documentation, suggests that the market may be overestimating the speed at which these nascent energy systems can offset cyclical declines in the core electronics segment.
The transition to public markets via a SPAC merger warrants skepticism regarding the company's ability to scale these new technologies profitably. Investors should remain cautious, as the lack of a dominant recurring service model makes the company's income statement highly susceptible to sudden, sharp downturns in customer spending.
Quick answers to the most common questions about buying SHMDW stock.
For fiscal year 2023, SCHMID Group N.V. Warrants (SHMDW) reported total revenue of $90.2M. This represents a 128.6% increase compared to $39.5M in 2021.
SCHMID Group N.V. Warrants (SHMDW) is profitable, generating $36.9M in net income for the fiscal year ending 2023 with a net profit margin of 40.9%.
SCHMID Group N.V. Warrants (SHMDW) reported an operating income of $32.2M, resulting in an operating profit margin of 35.7%. This margin reflects the operational efficiency of the business before interest and taxes.
SCHMID Group N.V. Warrants (SHMDW) generated $26.4M in gross profit for the year, representing a gross profit margin of 29.3%. This demonstrates the company's core pricing power and production efficiency.