Strong Growth in Asia Results in Considerable Leap in Earnings in Third Quarter of 2017

DGAP-News: SMA Solar Technology AG / Key word(s): 9-month figures
SMA Solar Technology AG: Strong Growth in Asia Results in Considerable Leap
in Earnings in Third Quarter of 2017

09.11.2017 / 06:59
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG - Corporate News

SMA Solar Technology AG: Strong Growth in Asia Results in Considerable Leap
in Earnings in Third Quarter of 2017

Overview January to September 2017:

- 5.9 GW inverter output sold (Q1-Q3 2016: 5.7 GW)

- Sales of EUR592.5 million (Q1-Q3 2016: EUR708.8 million) and earnings
before interest, taxes, depreciation and amortization (EBITDA) of EUR55.3
million (Q1-Q3 2016: EUR107.9 million)

- High operating cash flow of EUR78.7 million (Q1-Q3 2016: EUR123.6 million)

- Financial stability thanks to equity ratio of 49.3% (December 31, 2016:
48.3%) and high net cash of EUR435.8 million (December 31, 2016: EUR362.0
million)

- As of October 31, 2017, order backlog increases to EUR761 million, of
which EUR350 million is attributable to the product business

- Managing Board specifies guidance for fiscal year 2017


Niestetal, November 9, 2017 - From January to September 2017, SMA Solar
Technology AG (SMA/FWB: S92) sold PV inverters with a total output of 5.9
GW, thereby surpassing the previous year (Q1-Q3 2016: 5.7 GW). Sales
decreased to EUR592.5 million (Q1-Q3 2016: EUR708.8 million). The main cause
of this was the weak business with central inverters for large-scale PV
power plants in North America. The Asian markets recorded extremely positive
development with an increase in sales of 43%, and SMA also saw rising sales
in the EMEA region. There was significant growth momentum emanating in
particular from the storage and service business during the reporting
period.

SMA considerably boosted profitability in the third quarter of 2017. The
gross margin increased to 25%. Earnings before interest, taxes, depreciation
and amortization (EBITDA) doubled to EUR26 million. All segments generated
positive operating earnings in the third quarter. From January to September
2017, SMA generated EBITDA of EUR55.3 million (EBITDA margin: 9.3%; Q1-Q3
2016: EUR107.9 million, 15.2%). Earnings before interest and taxes (EBIT)
was EUR15.6 million (Q1-Q3 2016: EUR59.4 million) and therefore already at
the lower end of the guidance for the year as a whole. Net income was
EUR25.0 million in the reporting period (Q1-Q3 2016: EUR36.9 million).
Earnings per share thus amounted to EUR0.72 (Q1-Q3 2016: EUR1.06).

SMA's business model is not capital intensive. As a result, SMA generated
high operating cash flow of EUR78.7 million in the reporting period (Q1-Q3
2016: EUR123.6 million) and further increased its high liquidity reserve.
Net cash rose to EUR435.8 million (December 31, 2016: EUR362.0 million). The
equity ratio slightly increased to 49.3% (December 31, 2016: 48.3%). As a
result, SMA still has a highly solid balance-sheet structure.

"To date, the fiscal year has gone better for SMA than we had expected at
the start of the year," said SMA CEO Pierre-Pascal Urbon. "We have once more
shown that we are good at adapting to the quickly changing market
conditions. Thanks to our international presence and our new products, we
have increased the product-related order backlog by 25% to EUR350 million
since the end of the first half of 2017. We expect strong end-of-year
business and are confident about achieving our objective for the year.
However, due to a supply shortage of critical components we will probably
come in at the lower end of the sales guidance. With Strategy 2020, we are
going one step further. As an energy service provider, we want to benefit
from the digitization of the energy industry in the future. Therefore, SMA
will invest in platforms to connect energy producers with energy consumers
and create network effects. The PV inverter remains our core area of
expertise because it is the ideal sensor for valuable energy data."

The SMA Managing Board specifies its guidance for the 2017 fiscal year. The
guidance now forecasts sales of more than EUR900 million and unchanged
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 quarterly statement for January to September 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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09.11.2017 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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627035 09.11.2017