SMA exceeds the 2009 forecast with new record results and resolves to expand Managing Board and Supervisory Board

SMA Solar Technology AG / Preliminary Results/Change of Personnel

23.02.2010 12:48

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.


* Sales increased in difficult market environment by 37 % to about 934
million Euro with a sold inverter output of approx. 3.4 GW
* EBIT increased to about 228 million Euro (EBIT margin approx. 24.4 %)
* For 2010, the Managing Board expects a sales increase to 1.1 million Euro
to 1.3 million Euro with an EBIT-margin of 20 % to 23 %
* Managing Board will be temporarily expanded to seven board members
* Supervisory Board will be extended to twelve members due to surge in SMA

SMA Solar Technology AG (FWB: S92), today published its preliminary figures
for fiscal 2009. With record sales of approx. 934 million Euro, the Company
exceeded its sales forecast of between 850 and 900 million Euro (previous
year: 682 million Euro). Group sales were driven primarily by the
significantly higher demand in the second half year of 2009. The short-term
increase in the produced inverter output from the first to the fourth
quarter 2009 at a ratio of distinctly more than 1:4 (Q1: c. 243 MW, Q4: c.
1,415 MW) again provides proof of SMA's high degree of flexibility. The
EBIT of approx. 228 million Euro (previous year: 167 million Euro) is
slightly above the earnings forecast (195 million Euro to 225 million
Euro). The EBIT margin of approx. 24.4 % will reach the level of the
previous year (24.6 %). With these figures, 2009 is the most successful
year in the Company's history. SMA strengthened its market position again
in fiscal 2009 and raised its worldwide market share to more than 40 %
according to its own estimates (previous year: 38 %).

The Managing Board expects strong market growth in 2010. Germany will
remain by far the largest photovoltaics market worldwide, but there will be
decisive growth impulses from foreign photovoltaics markets. Owing to its
international distribution and service organization, SMA will be able to
benefit from these developments. The Managing Board expects to keep the
worldwide market share in 2010 above 40 % and to achieve sales of 1.1
million Euro to 1.3 million Euro for the current fiscal year. The intensity
of competition, which has increased due to growing internationalization,
and the stronger digression of feed-in tariffs in Germany will lead to
higher cost pressures. Hence, SMA expects a slight decrease in EBIT-margins
in 2010 down to 20 % to 23 %.

As announced by SMA Solar Technology AG as early as in February 2009, the
contracts with the two founding board members Günther Cramer (CEO) and
Peter Drews (COO) will expire in the middle of 2011. In order to ensure an
optimal induction of the new board members as well as a smooth transfer of
responsibilities, the Supervisory Board resolved today to expand the
Managing Board from five to seven board members to April 1, 2010 for the
period until the departure of both founders. Effective April 1, 2010, Uwe
Hertel (*1960), graduate engineer, will become new Managing Board member in
charge of production, the graduate social pedagogue Jürgen Dolle (*1954)
will take over the board department of Human Resources. Both new board
members have been with the Company for many years. CEO Günther Cramer will
continue to assume the functions of strategy and corporate communication.
Peter Drews will fill the newly established board position Systematic
Product Cost Reduction until the Annual General Meeting 2011, becoming
Chief Product Officer (CPO).
Effective April 1, 2010, the Managing Board of SMA Solar Technology AG will
therefore consist of the following seven members: Günther Cramer (CEO;
strategy & corporate communication), Jürgen Dolle (Chief Human Resources
Officer), Peter Drews (Chief Product Officer), Roland Grebe (Chief
Technology Officer), Uwe Hertel (Chief Operating Officer), Pierre-Pascal
Urbon (Chief Financial Officer) and Marko Werner (Chief Marketing & Sales

Due to the positive development of SMA during the past years, the number of
employees has significantly increased up to more than 4,000 (incl.
temporary employees). It is therefore necessary to expand the Supervisory
Board to twelve members as well as to compose the Board on a parity basis.
The Managing Board today gave notice according to § 97 Aktiengesetz (German
Stock Corporation Act). In the future, the Supervisory Board will be
composed of six shareholder representatives and six employee
representatives. The employee representatives, thereof two trade union
representatives and one executive employee representative, are elected by
the employees. The six shareholder representatives will be elected by the
Annual General Meeting on May 27, 2010. All current shareholder
representatives have shown their will today to stand for election at the
upcoming Annual General Meeting.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

Press Contact:

Volker Wasgindt
Head of Press and Association Work
Tel. +49 561 9522-11 21
Fax.+49 561 9522-11 03

Contact Investor Relations:

Anna Raudszus (Institutional Investors/Research Analysts)
Tel. +49 561 9522-22 22
Fax.+49 561 9522-22 23
Julia Damm (Retail Investors)
Tel. +49 561 9522-11 64

This announcement serves only as information and does not constitute an
offer or invitation to subscribe for, acquire, hold or sell any securities
of SMA Solar Technology AG (the 'Company') or any present or future
subsidiary of the Company (together with the Company, the 'SMA Group') nor
should it form the basis of, or be relied upon in connection with, any
contract to purchase or subscribe for any securities in the Company or any
member of the SMA Group or commitment whatsoever. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as
This announcement can contain future-oriented statements. Future-oriented
statements are statements which do not describe facts of the past. They
also include statements about our assumptions and expectations. These
statements are based on plans, estimations and forecasts which the
executive board of SMA Solar Technology AG (SMA or company) has available
at this time. Future-oriented statements are therefore only valid on the
day on which they are made. Future-oriented statements by nature contain
risks and elements of uncertainty. Various known and unknown risks,
uncertainties and other factors can lead to considerable differences
between the actual results, the financial position, the development or the
performance of the corporation and the estimates given here. These factors
include those which SMA has discussed in published reports. These reports
are available on the SMA website at The company accepts no
obligation whatsoever to update these future-oriented statements or to
adjust them to future events or developments.

23.02.2010 12:48 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at and


Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

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