SMA Concludes Acquisition of Majority Stake in Zeversolar

DGAP-News: SMA Solar Technology AG / Key word(s): Miscellaneous
SMA Solar Technology AG: SMA Concludes Acquisition of Majority Stake
in Zeversolar

15.03.2013 / 12:31


SMA Solar Technology AG - Corporate News

SMA Concludes Acquisition of Majority Stake in Zeversolar

Niestetal/Shanghai, March 15, 2013 - SMA Solar Technology AG (SMA/FWB: S92)
has concluded the acquisition of a majority stake of 72.5% in Jiangsu
Zeversolar New Energy Co., Ltd., a leading inverter manufacturer in China.
The acquisition of a majority share in Zeversolar was approved by the
Chinese government authorities. Zeversolar's products are specially
tailored to the requirements of the Chinese photovoltaic market. This
transaction secures SMA access to the growing Chinese market and
strategically consolidates its position as a global market leader.

'Just recently, the Chinese government has significantly raised its
photovoltaic expansion targets again. The new target is to install a
further 10 gigawatts each year over the next three years making China the
largest photovoltaic market worldwide. Therefore, the majority stake in
Zeversolar, which makes it possible for SMA to gain access to this growth
market, is of great strategical importance,' explains CEO Pierre-Pascal

SMA plans to use the majority stake primarily to aid comprehensive
operation in the Chinese market. As one of the leading manufacturers in
China, Zeversolar offers products tailored to the needs of the local
market. The capacity of the modern production site in Yangzhong can be
quickly increased, if required. Furthermore, Zeversolar is also in contact
with the prevailing customers and decision-makers in the energy industry.
'This transaction will provide SMA with access to the most important
photovoltaic market of the future. Moreover, we will profit from the
synergies in Purchasing, Production and Development. We are expecting a
positive contribution to earnings over the mid-term,' says Pierre-Pascal

Zeversolar's company value based on SMA's stake of 72.5% is CNY 319 million
(approx. EUR40 million) from which net liabilities were deducted in order
to determine the purchase price. The purchase was financed with cash on

The economic start of the transaction is Jan.1, 2013 retrospectively.

About SMA
The SMA Group generated sales of EUR1.7 billion in 2011 and is the global
market leader for solar inverters, a key component of all PV plants and,
as an energy management group, offers innovative key technologies for
future power supply structures. It is headquartered in Niestetal, near
Kassel, Germany, and is represented internationally in 21 countries. The
Group employs more than 5,500 people worldwide. SMA's broad product
portfolio includes a compatible inverter for every type of module on the
market and for all plant sizes. The product range includes both inverters
for photovoltaic plants connected to the grid as well as inverters for
off-grid systems. SMA is therefore able to provide ideal technical inverter
solutions for all plant sizes and types. 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 also in the TecDAX index. In recent
years, SMA has received numerous awards for excellence as an employer and
achieved first place in the nationwide 'Great Place to Work(R)' competition
in 2011 and 2012.

About Zeversolar
Jiangsu Zeversolar New Energy Co., Ltd. emerged in 2011 as the result of a
merger between 'Jiangsu Eversolar New Energy Co., Ltd.' and 'Jiangsu ZOF
New Energy Co., Ltd.' The company, located in Suzhou (Jiangsu province),
develops, produces and sells PV inverters. It offers a range of products
from residential PV systems all the way to PV power plants in the
megawatts. The ISO 9001:2008 certified company carries out production in
Yangzhong (Jiangsu province), has research and development facilities in
Suzhou and Shanghai and also has six sales and service branches in China.
Zeversolar also has subsidiaries in Australia and Germany. Zeversolar
currently employs more than 450 employees worldwide, including about 150
working in development. In 2011, Zeversolar achieved sales of CNY approx.
250 million and sold 215 MW of inverter power, making them one of the
leading PV inverter manufacturers in China.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805

Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400

Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223

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

End of Corporate News


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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
E-mail: info@sma.de
Internet: www.sma.de
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service
204081 15.03.2013

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SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal