DGAP-News: SMA Solar Technology AG significantly improves sales and earnings in 2019 - positive business development in first quarter of 2020

DGAP-News: SMA Solar Technology AG / Key word(s): Annual Results
SMA Solar Technology AG significantly improves sales and earnings in 2019 -
positive business development in first quarter of 2020

26.03.2020 / 07:00
The issuer is solely responsible for the content of this announcement.


SMA Solar Technology AG corporate news

SMA Solar Technology AG significantly improves sales and earnings in 2019 -
positive business development in first quarter of 2020

Overview of fiscal year 2019:

- Inverter output sold exceeds 10 GW for the first time at 11.4 GW (2018:
8.5 GW)

- Sales increase by around 20% year on year to €915 million (2018: €761

- Earnings before interest, taxes, depreciation and amortization (EBITDA)
positive at €34 million (2018: -€69 million)

- Equity ratio still high at 38% (December 31, 2018: 43%) and high net cash
of €303 million (December 31, 2018: €306 million)

- Managing Board anticipates sales of between €275 million and €285 million
as well as EBITDA of between €12 million and €15 million in first quarter of
2020 and confirms sales and earnings guidance for the year as a whole

Niestetal, March 26, 2020 - In fiscal year 2019, SMA Solar Technology AG
(SMA/FWB: S92) sold inverters with a cumulative output of around 11.4 GW.
Inverter output sold was thus approximately 35% above the previous year's
level (2018: 8.5 GW). The SMA Group's sales increased by around 20% to
€915.1 million (2018: €760.9 million). This growth is attributable, in
particular, to the very good business performance in the Home Solutions and
Large Scale & Project Solutions segments. Here SMA was able to regain market
share and generate more sales than in the previous year, especially in the
target markets Germany and the USA, but also in new markets. EBITDA improved
significantly to €34.2 million (EBITDA margin: 3.7%; 2018: -€69.1 million,

Net income came to -€8.6 million (2018: -€175.5 million). Earnings per share
thus amounted to -€0.25 (2018: -€5.06). Net cash remained virtually
unchanged at €303.0 million (December 31, 2018: €305.5 million) and thus
continued to be at a high level. With an equity ratio of 37.6% (December 31,
2018: 42.9%) at the end of 2019, SMA has a robust balance sheet structure.
In addition, the company has a credit line of €100 million from domestic

"Thanks to successfully implemented restructuring and cost reduction
measures, an increased customer focus and targeted sales activities, SMA has
significantly improved its volume, sales and earnings in the past year,"
explained Chief Executive Officer Jürgen Reinert. "We have reached key
milestones in both the core business and future business fields. These
include the largest order in our company's history for the supply of 595
medium-voltage power stations with a cumulated nominal output of 2.2 GW to a
major U.S. utility, the expansion of our market leadership in storage
systems and the growth of our managed portfolio in the operations and
maintenance business for large-scale PV power plants by around 30%."

Despite the current coronavirus crisis, the SMA Managing Board is confirming
its sales and earnings guidance for the 2020 fiscal year published on
February 7, 2020. It predicts a sales increase to between €1.0 billion and
€1.1 billion. SMA is well positioned to gain market shares even in the
current circumstances. In addition, the Managing Board is implementing
further cost reduction measures. In this context, the SMA Managing Board is
still expecting an increase in EBITDA of between €50 million and €80
million. "So far, the coronavirus has had only a minimal negative impact on
SMA's business development," said Jürgen Reinert. "Since the beginning of
the year, order intake and sales have continued to develop positively and we
have minimized supply shortages through active management. SMA has focused
on prevention at an early stage, implementing appropriate measures such as
travel bans, mobile working where possible and adjustments to manufacturing
processes. We are thereby guaranteeing business as usual as far as possible,
while protecting the health of our employees at the same time. We will of
course have to closely monitor the ongoing developments in relation to the
coronavirus and respond quickly and flexibly at all times. However, we
consider SMA well equipped to respond appropriately to all possible

The SMA Annual Report 2019 is available online at

About SMA
As a leading global specialist in photovoltaic 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 inverters, holistic system solutions for PV systems of all
power classes, intelligent energy management systems and battery-storage
solutions as well as complete solutions for PV diesel hybrid 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 around 85 gigawatts have been
installed in more than 190 countries worldwide. SMA's multi-award-winning
technology is protected by more than 1,500 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
Manager Corporate Press
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.


26.03.2020 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.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1007361

End of News DGAP News Service

1007361 26.03.2020