SMA Managing Board Expects Severe Decline in Sales in 2013: Forecast is Influenced by the Massive Subsidy Cuts in the European Market

SMA Solar Technology AG / Key word(s): Forecast

18.10.2012 18:15

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Ad hoc notification from SMA Solar Technology AG

SMA Managing Board Expects Severe Decline in Sales in 2013: Forecast is
Influenced by the Massive Subsidy Cuts in the European Market

- Due to massive subsidy cuts for photovoltaics, steep downturn in Europe

- Global market leader SMA cannot dissociate itself from the market

- Managing Board predicts 2013 sales between EUR 0.9 and 1.3 billion
(2012: EUR 1.3 to 1.5 billion) with, at best, a balanced result, but
does not rule out a loss.

- Gradual reduction of 450 employees worldwide and 600 temporary

- Focus of technology development on new product platforms and cost

Due to massive subsidy cuts for photovoltaics in Europe, the Managing Board
of SMA Solar Technology AG (SMA/FWB: S92) expects a steep downturn and
growing price pressure next year as well as projects a significant drop in
sales to between EUR 0.9 billion and EUR 1.3 billion for 2013 (2012: EUR
1.3 to 1.5 billion). In the opinion of the Managing Board, due to the
strongly growing price pressure productivity improvements and technological
innovations alone are not enough to compensate for the expected drop in
European demand. For 2013, the SMA Managing Board, therefore, expects at
best a balanced operating result, but at the moment is unable to exclude a
The company also sees itself forced to adjust the personnel structures to
the declining sales. It is planned that SMA will gradually cut 450
employees worldwide and end the use of 600 temporary employees. No
personnel changes will be made in development.
Should SMA succeed in reducing production costs through technical
innovation and open the market for energy management and
solar-diesel-hybrid systems, the Managing Board assumes a return to
profitability from 2014.

End of ad hoc notification

About SMA
The SMA Group generated sales of EUR1.7 billion in 2011 and is the global
market leader for solar inverters, a key component of all PV plants and, as
an energy management group, offers innovative key technologies for future
power supply structures. It is headquartered in Niestetal, near Kassel,
Germany, and is represented in 21 countries on six continents. The Group
employs more than 5,500 people worldwide, plus a number of temporary
employees that varies on a seasonal basis. SMA's broad product portfolio
includes a compatible inverter for every type of module on the market and
for all plant sizes, as well as monitoring and energy management systems.
The product range includes both inverters for photovoltaic plants connected
to the grid as well as inverters for off-grid systems. SMA is therefore
able to provide ideal technical inverter solutions for all plant sizes and
types. Since 2008, the Group's parent company, SMA Solar Technology AG, has
been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and
also in the TecDAX index. In recent years, SMA has received numerous awards
for excellence as an employer and achieved first place in the nationwide
'Great Place to Work(R)' competition in 2011 and 2012.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805

Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400

Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223

This ad hoc notification 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 amended.

This ad hoc notification 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 Managing 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

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

End of Announcement DGAP News-Service