Financial Ratios

SMA Group   2011
IFRS		 2010
IFRS		 2009
IFRS		 2008
IFRS		 2007
IFRS		 2006
IFRS
Sales € million 1,676.3 1,920.1 934.3 681.6 327.3 192.9
Export ratio   53,6 % 44.9 % 38.4% 42.3 % 29.4 % 20.1 %
Inverter output sold MW 7,591 7,750 3,381 2,180 950 430
Capital expenditure 1 € million 160.2 158.3 82.1 63.9 12.3 15.0
Depreciation € million 50.4 31.3 16.3 8.9 16.0 9.0
Operating profit (EBIT) € million 240.3 516.8 228.4 167.4 59.3 33.4
Operating profit-margin   14.3 % 26.9 % 24.4% 24.6 % 18.1 % 17.3 %
Consolidated net profit € million 166.1 365.0 161.1 119.5 36.8 20.5
Earnings per share 2 € 4.79 10.52 4.64 3.44 1.06 0.59
Employees
(average during the period) 3		   6,366 5,519 3,412 2,513 1,600 1,164
in Germany   5,568 5,179 3,326 2,400 1,535 1,133
abroad   798 340 176 113 65 31
SMA Group   12/31/2011
IFRS		 12/31/2010
IFRS		 12/31/2009
IFRS		 12/31/2008
IFRS		 12/31/2007
IFRS		 12/31/2006
IFRS
Total assets € million 1,374.3 1,251.5 718.6 469.6 163.2 112.3
Equity € million 798.3 728.4 407.6 280.8 64.4 40.7
Equity ratio   57.4 % 58.2 % 56.7 % 59.8 % 39.5 % 36.2 %
Net working capital 4 € million 281.7 284.6 98.6 78.0 59.4 34.3
Net working capital ratio   16.8 % 14.8 % 10.6 % 11.4 % 18.1 % 17.8 %
Net Cash € million 473.3 523.4 344.8 239.4 41.2 20.9

(1) Excl. Finance Leases
(2) Converted to 34,700,000 shares
(3) Incl. temporary employees
(4) Inventories and trade receivables minus trade payables
(5) rebased to 100 %