EQS-News: SMA Group continues to grow: Significant increase in sales and earnings in the first quarter of 2023

EQS-News: SMA Solar Technology AG / Key word(s): Quarterly / Interim
SMA Group continues to grow: Significant increase in sales and earnings in
the first quarter of 2023

11.05.2023 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


SMA Group continues to grow: Significant increase in sales and earnings in
the first quarter of 2023

Overview Q1 2023:

* Sales increase to €367.2 million (Q1 2022: €220.6 million)

* Earnings before interest, taxes, depreciation and amortization (EBITDA)
higher than in the previous year at €60.0 million (Q1 2022: €14.8

* High order backlog of around €2.5 billion (Q1 2022: €1.1 billion)

* Managing Board confirms raised sales and earnings guidance for 2023:
Sales of between €1,450 million and €1,600 million; EBITDA of between
€135 million and €175 million

Niestetal, May 11, 2023 – SMA Solar Technology AG (SMA/ISIN:
DE000A0DJ6J9/FWB: S92) and its subsidiary companies had a succussful start
to the new year. From January to March 2023, the SMA Group reported a 66.5%
increase in sales to €367.2 million (Q1 2022: €220.6 million). All three
segments contributed to this positive performance. The Home Solutions
segment more than doubled its sales to as much as €163.3 million (Q1 2022:
€62.6 million). The Commercial & Industrial Solutions segment also posted a
significant sales increase of 41.9%, from €56.5 million to €80.2 million.
Sales in the Large Scale & Project Solutions segment reached €123.7 million
after €101.5 million in the same quarter of the previous year (up 21.9%).
The business areas of storage technology, digital energy services and green
hydrogen production likewise contributed to this positive overall

“SMA experienced very positive development in the first quarter of 2023. We
saw a significant increase in sales and earnings across all three segments,”
said SMA Chief Executive Officer Jürgen Reinert. “We have improved our
delivery capacity yet again and are seeing a consistently high level of
interest in our products and services. The Home Solutions segment made an
extraordinary contribution to this exceptional performance, but the other
two segments experienced very positive development as well. However, we will
not be able to continue the strong all-round profitability of the first
quarter on a totally linear basis throughout the year as a whole. The
reasons for this include changes to the product mix over the course of the
fiscal year, seasonal costs and planned investments that will allow us to
take advantage of the current growth opportunities.”

Earnings before interest, taxes, depreciation and amortization (EBITDA) also
increased significantly from €14.8 million in the first quarter of 2022 to
€60.0 million. This equates to an EBITDA margin of 16.3% (Q1 2022: 6.7%).
The factors behind this positive performance were persistently high demand
and improvements in the supply of electronic components, combined with
positive effects from capacity utilization and the current product mix.
Earnings before interest and taxes (EBIT) climbed to €50.4 million (Q1 2022:
€5.5 million). This equates to an EBIT margin of 13.7% (Q1 2022: 2.5%).

Net income therefore significantly increased to €51.7 million (Q1 2022: €3.0
million). Earnings per share thus amounted to €1.49 (Q1 2022: €0.09).

Net cash also increased to €270.0 million (December 31, 2022: €220.1
million). The equity ratio remained high at 40.6% (December 31, 2022:

As of March 31, 2023, the SMA Group still had a very large order backlog of
€2,468.2 million (March 31, 2022: €1,047.4 million). At €2,097.2 million,
more than three-quarters of this is attributable to product business (March
31, 2022: €572.1 million).

The SMA Managing Board is confirming its sales and earnings guidance for the
2023 fiscal year, as adjusted upward on March 29, 2023, which forecasts
sales of between €1,450 million and €1,600 million (previously: €1,350
million and €1,500 million) and EBITDA of between €135 million and €175
million (previously: €100 million and €140 million).

Additional information

The quarterly statement for January to March 2023 can be found online at
www.sma.de/en/investor-relations/publications. SMA will discuss its business
development during a conference call for analysts and investors at 9:00 a.m.
on May 11, 2023.

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, comprehensive
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 125 gigawatts have been installed in more than 190 countries
worldwide. Around 63 million tons of CO2e have been avoided thanks to the PV
inverter power sold by SMA over the past 20 years. 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 on
the MDAX and TecDAX index.

SMA Solar Technology AG

Sonnenallee 1

34266 Niestetal


Head of Corporate Communications:

Anja Jasper

Tel. +49 561 9522-2805


Press contact:

Dagmar Buth-Parvaresh

Tel.+49 561 9522 421414


Investor Relations contact:

Viona Brandt

Tel. +49 175 93 93 320



This press release 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.

This press release may 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 planning, assessments and predictions currently available to
the management of SMA Solar Technology AG (SMA or company). Future-oriented
statements are therefore valid only 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.


11.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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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: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1629883

End of News EQS News Service

1629883 11.05.2023 CET/CEST