EQS-News: SMA Group kicks off 2025 fiscal year in line with expectations  

EQS-News: SMA Solar Technology AG / Key word(s): Quarterly / Interim
Statement
SMA Group kicks off 2025 fiscal year in line with expectations

08.05.2025 / 06:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

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SMA Group kicks off 2025 fiscal year in line with expectations

* As expected, sales of €327.7 million below the previous year (Q1 2024:
€361.8 million)

* EBITDA of €24.6 million [1] (Q1 2024: €49.9 million [2])

* Order backlog as of March 31, 2025, at €1.3 billion (March 31, 2024:
€1.5 billion)

* Due to the deterioration of the macroeconomic environment and increased
uncertainties caused by volatile tariff policies, the Managing Board
expects sales and EBITDA to be in the lower third of the guidance range
of €1,500 million to €1,650 million and €70 million to €110 million


Niestetal, May 8, 2025 – SMA Solar Technology AG (SMA/ISIN:
DE000A0DJ6J9/FWB: S92) completed the first quarter of 2025 in line with
expectations. Group sales reached €327.7 million compared with €361.8
million in the first quarter of 2024.

As expected, sales in the Home Solutions and Commercial & Industrial
Solutions segments (merged as of May 1, 2025 into the Home & Business
Solutions division) in the first quarter of 2025 were significantly
influenced by a normalized demand situation, coupled with still partially
high inventory levels at distributors and installers. Against this backdrop,
sales in the Home Solutions segment amounted to €21.9 million (Q1 2024:
€62.6 million) and in the Commercial & Industrial Solutions segment to €26.3
million, after €70.5 million in the first quarter of 2024. As planned, the
Large Scale & Project Solutions segment posted significant sales growth from
€228.7 million in the same quarter of the previous year to €279.5 million in
the first quarter of 2025.

The group’s EBITDA amounted to €24.6 million1, compared to €49.9 million2 in
the same quarter of the previous year. This corresponds to an EBITDA margin
of 7.5% (Q1 2024: 13.8%). The main reasons for the change compared with the
previous year were lower sales and the resulting lower fixed cost degression
in the Home Solutions and Commercial & Industrial Solutions segments. EBIT
amounted to €11.4 million1 (Q1 2024: €38.2 million2). This corresponds to an
EBIT margin of 3.5% (Q1 2024: 10.6%).

The Large Scale & Project Solutions segment further improved its
profitability compared with the same quarter of the previous year, thanks to
the high level of sales and the associated increase in productivity,
achieving EBIT of €50.3 million (Q1 2024: €41.3 million). EBIT in the Home
Solutions and Commercial & Industrial Solutions segments decreased due to
the lower level of sales. The Home segment reached –€19.6 million (Q1 2024:
–€3.6 million), the C&I segment achieved –€26.4 million (Q1 2024: –€18.2
million).

“We saw a slight improvement in order intake in the Home Solutions and
Commercial & Industrial solutions segments in the first quarter of 2025,”
said Jürgen Reinert, CEO of SMA. “Looking ahead to the coming quarters, we
expect order intake to be less volatile overall due to the further
normalization of inventories in distribution within these two segments,
thereby returning to normal levels compared to the last two fiscal years.
The large-scale PV power plant segment also continued to perform well, with
order intake remaining roughly at the high level of the previous year’s
quarter. However, the unclear U.S. tariff policy and its potential
consequences for the global solar industry, for example through investment
postponements, remain a major source of uncertainty.”

“Sales and earnings in the first quarter of 2025 are in line with our
expectations,” added Kaveh Rouhi, CFO of SMA. “The Large Scale & Project
Solutions segments continued its successful sales and earnings performance.
As planned, the operating performance of the Home Solutions and Commercial &
Industrial Solutions segments was lower than in the same quarter of the
previous year. In addition, we are consistently working on implementing our
restructuring and transformation program in order to gradually achieve the
planned improvement in earnings.”

Net income amounted to €5.5 million (Q1 2024: €28.5 million). Earnings per
share thus amounted to €0.16 (Q1 2024: €0.82).

The SMA Group’s free cash flow significantly rose to €96.1 million after
–€45.7 million in the previous year. Net cash also improved significantly
due to the early successes of the restructuring program and, at €176.5
million as of March 31, 2025, was clearly above the level at the end of the
year (December 31, 2024: €84.2 million). With an equity ratio of 34.0%
(December 31, 2024: 35.9%), SMA continues to have a solid equity capital
base.

The order backlog was €1,293.9 million as of March 31, 2025 (March 31, 2024:
€1,467.8 million). At €972.1 million, more than three-quarters of this is
attributable to product business (March 31, 2024: €1,102.3 million).
Consequently, the product-related order backlog decreased only marginally
compared with December 31, 2024 (€1,033.3 million).

Due to the deterioration of the macroeconomic environment and increased
uncertainties caused by volatile tariff policies, along with their potential
direct and indirect impacts on SMA's business, the Managing Board expects
sales and EBITDA to be in the lower third of the guidance range of €1,500
million to €1,650 million and €70 million to €110 million.


Additional Information

The quarterly statement for January to March 2025 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 9:30 a.m.
on May 8, 2025. An overview of analyst estimates (consensus) is available at
Analyst Coverage & Consensus | SMA Solar.


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 round off SMA’s range. SMA inverters installed throughout
the world within the last 20 years with a total output of approximately 144
GW help avoid the emission of more than 64 million tons of CO2. SMA’s
multi-award-winning technology is protected by more than 1,600 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 SDAX index.

SMA Solar Technology AG

Sonnenallee 1

34266 Niestetal

Germany

Press Contact:

Dagmar Buth-Parvaresh

Tel.+49 561 9522 421414

Presse@SMA.de

Investor Relations contact:

Viona Brandt

Tel. +49 151 277 65 825

Investor.Relations@SMA.de


Disclaimer:

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.

This press release 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.

[1] Including about €10 million from a compensation payment related to a
claim settlement (reported in Corporate segment).

[2] Including €19 million from the sale of shares in elexon GmbH (reported
in Corporate segment).


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08.05.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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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
Germany
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Indices: SDAX,
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2132250



End of News EQS News Service
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2132250 08.05.2025 CET/CEST