Supply difficulties negatively impact sales and results of SMA in the first half of 2022. Order intake continues to develop positively

DGAP-News: SMA Solar Technology AG / Key word(s): Half Year Report
SMA Solar Technology AG: Supply difficulties negatively impact sales and
results of SMA in the first half of 2022. Order intake continues to develop

11.08.2022 / 07:00
The issuer is solely responsible for the content of this announcement.


SMA Solar Technology AG Corporate News

Supply difficulties negatively impact sales and results of SMA in the first
half of 2022. Order intake continues to develop positively

Overview of H1 2022:

* Sales of €472 million (H1 2021: €488 million)

* 5.8 GW inverter output sold (H1 2021: 6.8 GW)

* Earnings before interest, taxes, depreciation, and amortization (EBITDA)
decreased to €16 million (H1 2021: €38 million)

* Equity ratio remains high at 39.1% (December 31, 2021: 39.0%)

* Managing Board confirms sales and earnings forecast for fiscal year 2022

Niestetal, August 11, 2022 – SMA Solar Technology AG (SMA/FWB: S92)
generated earnings before interest, taxes, depreciation, and amortization
(EBITDA) of €16.0 million in the first half of 2022 (EBITDA margin: 3.4%; H1
2021: €38.0 million, 7.8%). The order intake remains very high. The
persistent supply difficulties for electronic components continue to affect
the development of the company’s sales and earnings. Between January and
June 2022, the SMA group sold inverters with a total power of approximately
5.8 GW and generated €471.9 million in sales (H1 2021: €488.3 million).
Sales were lower year on year in the Home Solutions segment because the high
demand could not be satisfied due to the shortage of materials. Sales in the
Commercial & Industrial Solutions and Large-Scale Project Solutions segments
remained at the level of the previous year due to supply difficulties and
project postponements as a result of increased prices.

Net income fell to -€10.6 million (H1 2021: €13.3 million). Earnings per
share thus dropped to -€0.31 (H1 2021: €0.38). Net cash decreased to €176.3
million (December 31, 2021: €221.7 million). At 39.1%, the equity ratio
remained at the same level as at the end of the previous year (December 31,
2021: 39.0%). In addition, SMA has a credit line of €100 million from
domestic banks.

“Demand for future-oriented solar and energy solutions remains high and our
order intake is developing positively,” said SMA Chief Executive Officer
Jürgen Reinert. “But the ongoing highly strained supply situation is taking
a significant toll on the development of sales and earnings. As in numerous
other industries, the difficulties relating to the supply of electronic
components are also affecting European inverter manufacturers, illustrating
once again the dependency of global supply chains on the Asian markets. We
have therefore initiated a series of measures to improve our long-term
ability to deliver.

As a result, we are currently expecting an improvement in the supply
situation in the second half of the year compared with the first half. We
are expecting a significant improvement of the overall situation and
profitable sales growth from 2023 onwards. We are preparing for this by
building a new gigawatt factory at the Kassel site and consequently doubling
our production capacity by 2024.”

The SMA Managing Board confirms its sales and earnings guidance for the 2022
fiscal year as published on March 1, 2022. It forecasts sales of between
€900 million and €1,050 million and earnings before interest, taxes,
depreciation, and amortization (EBITDA) of between €10 million and €60

The Half-Yearly Financial Report for January to June 2022 is available
online at

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 115 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 TecDAX index and SDAX

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 The company accepts no obligation whatsoever to
update these future-oriented statements or to adjust them to future events
or developments.


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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
Indices: SDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1417869

End of News DGAP News Service

1417869 11.08.2022