DGAP-News: SMA Solar Technology AG Increases Sales and Earnings in the First Half of 2018

DGAP-News: SMA Solar Technology AG / Key word(s): Half Year Results
SMA Solar Technology AG Increases Sales and Earnings in the First Half of
2018

09.08.2018 / 07:00
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

SMA Solar Technology AG - Corporate News

SMA Solar Technology AG Increases Sales and Earnings in the First Half of
2018


Overview H1 2018:

- 4.3 GW inverter output sold (H1 2017: 3.8 GW)

- Sales increased to EUR394.6 million (H1 2017: EUR381.1 million) and EBITDA
to EUR40.9 million (H1 2017: EUR29.2 million)

- Financial stability thanks to solid equity ratio of 52.7% (December 31,
2017: 50.3%) and high net cash of EUR393.4 million (December 31, 2017:
EUR449.7 million)

- Managing Board confirms its sales and earnings guidance for fiscal year
2018


Niestetal, August 9, 2018 - In the first half of 2018, SMA Solar Technology
AG (SMA/FWB: S92) sold inverters with a total output of around 4.3 GW (H1
2017: 3.8 GW) and increased its sales in comparison to the first half of the
previous year by 3.5% to EUR394.6 million (H1 2017: EUR381.1 million). The
sales increase is attributable in particular to the positive development in
the regions of Europe, the Middle East and Africa (EMEA) as well as
Asia-Pacific (APAC). From January to June 2018, EBITDA rose to EUR40.9
million (EBITDA margin: 10.4%; H1 2017: EUR29.2 million; 7.7%). EBITDA in
the reporting period and in the same period of 2017 was influenced by
positive one-time effects. The gross margin was 24.5% (H1 2017: 19.2%).

Net income amounted to EUR11.2 million in the first half of 2018 (H1 2017:
EUR8.8 million). Earnings per share thus amounted to EUR0.32 (H1 2017:
EUR0.25). With net cash of EUR393.4 million (December 31, 2017: EUR449.7
million) and an equity ratio of 52.7% (December 31, 2017: 50.3%), SMA
continues to have an extremely solid balance-sheet structure. In addition,
the company has a long-term credit line of EUR100 million from domestic
banks.

"SMA recorded a positive business performance in the first half of 2018,
particularly in Asia and Europe," said SMA CEO Pierre-Pascal Urbon. "This is
a good result because our production processes have been hampered by the
general shortage of electronic components. For the second half of the year,
we expect an improvement in the delivery situation and higher sales. Key
growth stimuli will originate particularly from Europe and Asia as well as
from medium-sized PV systems. The reduction in PV expansion targets and
feed-in tariffs in China, which completely surprised all market
participants, will impact global demand. Because of this, the SMA Managing
Board is expecting the market accessible to SMA to increase by only 7%
annually to EUR7.6 billion by 2020 (previously EUR9.2 billion). Through
product innovations that we will be launching in the most important
photovoltaic markets over the next six to twelve months, we have already
found answers to the expected price pressure in the hardware business. In
addition, our expertise in energy management and the integration of battery
storage systems will help us enter the higher-margin systems and service
businesses."

The SMA Managing Board confirms its sales and earnings guidance for the 2018
fiscal year, which forecasts sales of between EUR900 million and EUR1,000
million and EBITDA of between EUR90 million and EUR110 million. For the
first time, EBITDA includes expenses of more than EUR10 million for setting
up the digital business. The Managing Board estimates that depreciation and
amortization will amount to approximately EUR50 million. The Managing
Board's sales and earnings guidance is based on the assumption that no PV
projects to a greater extend will be postponed in anticipation of further
decreases in PV module prices. In addition, the Managing Board expects the
supply situation with electronic components to improve in the second half of
the year.

The Half-Yearly Financial Report for January to June 2018 can be found at
www.SMA.de/IR/FinancialReports.


About SMA
The SMA Group with sales of around EUR900 million in 2017 is a global 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 and digital energy 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 1,100 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.


---------------------------------------------------------------------------

09.08.2018 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.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

---------------------------------------------------------------------------

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
---------------------------------------------------------------------------

712251 09.08.2018