DGAP-News: Global chip shortage continues to affect sales performance of SMA Solar Technology AG despite very high order intake

DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results/Quarterly
/ Interim Statement
Global chip shortage continues to affect sales performance of SMA Solar
Technology AG despite very high order intake

11.05.2022 / 07:00
The issuer is solely responsible for the content of this announcement.


SMA Solar Technology AG corporate news

Global chip shortage continues to affect sales performance of SMA Solar
Technology AG despite very high order intake

Overview of Q1 2022:

- Sales of €221 million (Q1 2021: €240 million)

- 2.8 GW of inverter output sold (Q1 2021: 3.4 GW)

- Earnings before interest, taxes, depreciation and amortization (EBITDA) of
€15 million (Q1 2021: €20 million)

- Equity ratio still high at 39% (December 31, 2021: 39%)

- Managing Board confirms sales and earnings guidance for fiscal year 2022

Niestetal, May 11, 2022 – In the first quarter of 2022, SMA Solar Technology
AG (SMA/FWB: S92) generated sales of €220.6 million (Q1 2021: €240.4
million). The fact that sales were lower than in the same quarter of the
previous year is attributable to the continued tight situation with the
supply of electronic chips. In the past quarter, SMA recorded a very high
order intake and a high order backlog of €1,047.4 million as of March 31,
2022 (March 31, 2021: €835.7 million). At €572.1 million, more than half of
this is attributable to product business (March 31, 2021: €354.5 million).

Net income amounted to €3.0 million (Q1 2021: €8.0 million). Earnings per
share thus dropped to €0.09 (Q1 2021: €0.23). At €199.9 million, net cash
was below the level at the end of the previous year (December 31, 2021:
€221.7 million). The equity ratio remained steady at 39.1% (December 31,
2021: 39.0%). In addition, SMA has a credit line of €100 million from
domestic banks.

“In the first quarter of 2022, we recorded the highest order intake of the
past ten years,” said SMA Chief Executive Officer Jürgen Reinert. “In March
in particular, both order intake and sales developed very well once again.
There is strong demand from our customers for existing products and
solutions as well as for those launched on the markets in recent months.
Despite the ongoing strained supply situation in relation to electronic
components, we expect to record most of the product-related order backlog as
sales by the end of the year. In the coming years, we are anticipating
significant market growth both for our core business of photovoltaics and
for battery-storage systems, energy management, e-mobility and hydrogen
production as fields for the future. SMA will be able to profit from that
once the component shortage has been overcome. As part of our Strategy 2025,
we are continuing the evolution of SMA to become an energy transition
company that offers its customers solutions for all areas that are central
to the energy supply of the future. Our focus here is on complete solutions
with a high degree of customer benefit.”

The SMA Managing Board confirms its sales and earnings guidance for the 2022
fiscal year as published on March 1, 2022, which forecasts sales of between
€900 million and €1,050 million and EBITDA of between €10 million and €60
million. The Managing Board currently sees no threat to the forecast due to
the war in Ukraine. A conclusive assessment is not possible at this time.

The quarterly statement for January to March 2022 can be found at
www.SMA.de/IR/FinancialReports. SMA’s virtual Annual General Meeting will be
held on May 31, 2022.

About SMA
As a leading global specialist in photovoltaic and storage system
technology, the SMA Group is setting the standards today for the
decentralized and renewable energy supply of tomorrow. SMA’s portfolio
contains a wide range of efficient PV and battery inverters, holistic system
solutions for PV and battery-storage systems of all power classes,
intelligent energy management systems and charging solutions for electric
vehicles and power-to-gas applications. Digital energy services as well as
extensive services up to and including operation and maintenance services
for PV power plants round off SMA’s range. SMA inverters with a total output
of more than 110 gigawatts have been installed in more than 190 countries
worldwide. SMA’s multi-award-winning technology is protected by more than
1,700 patents and utility models. 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 is listed in the SDAX index.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

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

Press Contact:
Susanne Henkel
Senior Corporate Communications Manager
Tel. +49 561 9522-1124

This corporate news 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 corporate news 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 www.SMA.de. The company accepts no obligation whatsoever to
update these future-oriented statements or to adjust them to future events
or developments.


11.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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
E-mail: info@sma.de
Internet: www.sma.de
Indices: SDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1348631

End of News DGAP News Service

1348631 11.05.2022