SMA Posts Strong Growth with System Technology for Storage Applications and Benefits from Global Position in First Half of 2017

DGAP-News: SMA Solar Technology AG / Key word(s): Half Year Results
SMA Solar Technology AG: SMA Posts Strong Growth with System Technology for
Storage Applications and Benefits from Global Position in First Half of 2017

10.08.2017 / 06:58
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG-Corporate News

SMA Posts Strong Growth with System Technology for Storage Applications and
Benefits from Global Position in First Half of 2017

Overview of H1 2017:

3.8 GW inverter output sold (H1 2016: 3.9 GW)

Sales of EUR381.1 million (H1 2016: EUR482.3 million) and EBITDA of EUR29.0
million
(H1 2016: EUR71.2 million)

High operating cash flow of EUR38.8 million (H1 2016: EUR55.3 million)

Financial stability thanks to equity ratio of 49.7% (December 31, 2016:
48.3%)
and high net cash of EUR401.6 million (December 31, 2016: EUR362.0 million)

High order backlog of EUR673 million, of which EUR280 million is
attributable to the product business

Managing Board confirms raised sales and earnings guidance for fiscal year
2017


Niestetal, August 10, 2017 - In the first six months of 2017, SMA Solar
Technology AG (SMA/FWB: S92) sold PV inverters with a total output of 3.8
GW, which was thus on a par with the previous year (H1 2016: 3.9 GW). Sales
fell to EUR381.1 million (H1 2016: EUR482.3 million) due to the overall drop
in prices in all segments and regions. Thanks to its unique position, SMA
achieved a balanced distribution of sales in its segments and regions in the
first six months of the year. System solutions for commercial PV systems
(Commercial) and storage applications enjoyed a positive performance. At
regional level, SMA achieved significant sales growth in Asian markets.

Despite the sharp decline in sales, SMA achieved earnings before interest,
taxes, depreciation and amortization (EBITDA) of EUR29.0 million (EBITDA
margin: 7.6%; H1 2016: EUR71.2 million, 14.8%). Net income amounted to
EUR8.8 million in the first half of 2017 (H1 2016: EUR19.4 million).
Earnings per share thus amounted to EUR0.25 (H1 2016: EUR0.56).

SMA's business model is not capital-intensive. As a result, SMA generated
high operating cash flows of EUR38.8 million in the reporting period (H1
2016: EUR55.3 million) and further increased its high liquidity reserve. Net
cash rose to EUR401.6 million (December 31, 2016: EUR362.0 million). The
equity ratio slightly increased to 49.7% (December 31, 2016: 48.3%). As
such, SMA still has a highly solid balance-sheet structure. SMA will use its
financial strength to benefit from the digitization of the energy industry
and develop new business models.

"After a moderate start to the year, SMA increased its sales by 20% in the
second quarter of 2017 as against the first three months of the year. We saw
a favorable increase in all key segments, particularly in the Asia-Pacific
region (APAC). For the second half of the year, we expect the business to
significantly pick up again based on strong incoming orders in all markets,"
explained SMA's CEO Pierre-Pascal Urbon. "In the medium term, we anticipate
exponential growth in the storage application segment. SMA already has
system technologies for using large storage solutions to stabilize
electricity grids or using batteries to increase self-consumption in private
households or companies. Thanks to our intelligent energy management and
strategic alliances, we have laid the foundation for new business models.
SMA will therefore benefit from the global trend toward decentralized energy
and the digitization of the energy industry."

The SMA Managing Board confirms its sales and earnings guidance for fiscal
year 2017, which was increased on August 1, 2017. It forecasts sales of
between EUR900 million and EUR950 million and EBITDA of between EUR85
million and EUR100 million. Net cash is expected to rise to more than EUR450
million thanks to high operating cash flow.

You can find the Half-Yearly Financial Report for January to June 2017 at
www.SMA.de/IR/FinancialReports.


About SMA

The SMA Group with sales of around EUR1 billion in 2016 is the global market
leader for solar inverters, a key component of all PV plants. SMA offers a
wide range of products and solutions that allow for high energy yields for
residential and commercial PV systems and large-scale PV power plants. To
increase PV self-consumption efficiently, SMA system technology can easily
be combined with different battery technologies. Intelligent energy
management solutions, comprehensive services and operational management of
PV power plants round off SMA's range. The company is headquartered in
Niestetal, near Kassel, Germany, is represented in 20 countries and has more
than 3,000 employees worldwide, including 500 working in Development. SMA's
multi-award-winning technology is protected by more than 900 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 currently the only company in the solar industry that is listed
in the TecDAX index.


SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany

Head of Corporate Communications:
Anja Jasper
Tel. +49 561 9522-2805
Presse@SMA.de

Press Contact:
Susanne Henkel
Manager Corporate Press
Tel. +49 561 9522-1124
Fax +49 561 9522-421400
Presse@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. 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
amended.

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.


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10.08.2017 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
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
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange



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600191 10.08.2017