2017-05-11

SMA Achieves High Net Cash Flow and Increases Net Cash in Challenging Environment in First Quarter of 2017

DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA Achieves High Net Cash Flow and Increases Net
Cash in Challenging Environment in First Quarter of 2017

11.05.2017 / 06:57
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG Corporate News

SMA Achieves High Net Cash Flow and Increases Net Cash in Challenging
Environment in First Quarter of 2017

Overview Q1 2017:

- 1.7 GW inverter output sold (Q1 2016: 2.1 GW)

- Sales at EUR173.2 million (Q1 2016: EUR248.1 million) and EBITDA at
EUR15.9 million (Q1 2016: EUR41.3 million) in line with the Managing Board's
forecast

- High operating cash flow of EUR41.6 million (Q1 2016: EUR55.5 million)

- Financial stability thanks to solid equity ratio of 49.5% (December 31,
2016: 48.3%) and high net cash of EUR413.1 million (December 31, 2016:
EUR362.0 million)

- High order backlog of EUR626 million, of which EUR232 million is
attributable to the product business

- Managing Board confirms its sales and earnings forecast for fiscal year
2017


Niestetal, May 11, 2017 - In the first quarter of 2017, SMA Solar Technology
AG (SMA/FWB: S92) sold inverters with a total output of 1.7 GW (Q1 2016: 2.1
GW) and generated sales of EUR173.2 million (Q1 2016: EUR248.1 million) in a
difficult market environment. EBITDA dropped to EUR15.9 million (EBITDA
margin: 9.2%; Q1 2016: EUR41.3 million, 16.6%). Sales and earnings were in
line with the Managing Board's forecast published on March 29, 2017. The
main sales drivers were the commercial PV system segment (Commercial) and
large-scale PV power plant segment (Utility) and most important markets were
North America, Japan, India, Great Britain and Germany.

In the first quarter of 2017, net income was EUR6.3 million (Q1 2016:
EUR18.8 million). Earnings per share thus amounted to EUR0.17 (Q1 2016:
EUR0.54). Despite the decline in sales, SMA generated high operating cash
flows of EUR41.6 million (Q1 2016: EUR55.5 million) and further increased
its high liquidity reserve. Net cash rose to EUR413.1 million (December 31,
2016: EUR362.0 million). The equity ratio slightly increased to 49.5%
(December 31, 2016: 48.3%). As a result, SMA still has a highly solid
balance-sheet structure. A long-term credit line of EUR100 million from
domestic banks underscores SMA's investment-grade credit rating.

\"The first quarter of 2017 was shaped by high price pressure in all markets
and segments in addition to poor weather conditions on key sales markets,\"
explained SMA CEO Pierre-Pascal Urbon. \"At the same time, incoming orders
developed extremely positively in the first quarter, resulting in a
book-to-bill ratio of 1.4. As of March 31, 2017, SMA had an order backlog of
around EUR626 million, of which roughly EUR232 million was attributable to
the product business. Sales and the order backlog in the first three months
correspond to approximately half of the Managing Board's annual sales
forecast. In addition, we will roll out other cost-optimized products and
solutions on international photovoltaic markets in the coming months and
present innovative solutions, including solutions for comprehensive and
fully automatic energy management across various sectors, to our customers
at leading trade fairs in the near future. This is why we expect to
significantly improve our business performance in the second half of the
year despite continued high price pressure.\"

In light of the high order backlog, the SMA Managing Board confirms its
sales and earnings forecast for the 2017 fiscal year published on January
26, 2017. The forecast anticipates sales of EUR830 million to EUR900 million
and EBITDA of EUR70 million to EUR90 million. Net cash will amount to
between EUR400 million and EUR450 million due to high operating cash flow.

You can find the quarterly statement for January to March 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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11.05.2017 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



End of News DGAP News Service
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572329 11.05.2017

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SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal
Germany

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