2019-05-09

DGAP-News: SMA Solar Technology AG to Break Even in the First Quarter of 2019

DGAP-News: SMA Solar Technology AG / Key word(s): Quarterly / Interim
Statement/Quarter Results
SMA Solar Technology AG to Break Even in the First Quarter of 2019

09.05.2019 / 07:00
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 to Break Even in the First Quarter of 2019


Overview Q1 2019:

- Inverter output sold at same level as previous year with 1.8 GW (Q1 2018:
1.8 GW)

- Sales of EUR167.8 million (Q1 2018: EUR182.5 million) and EBITDA of EUR0.6
million (Q1 2018: EUR17.5 million) in line with the Managing Board's
guidance

- Financial stability thanks to solid equity ratio of 42.2% (December 31,
2018: 42.9%) and high net cash of EUR290.3 million (December 31, 2018:
EUR305.5 million)

- High order backlog of EUR619.8 million, of which EUR233.2 million is
attributable to the product business

- Cost reduction program develops as planned

- Managing Board confirms its sales and earnings guidance for fiscal year
2019


Niestetal, May 9, 2019 - In the first quarter of 2019, SMA Solar Technology
AG (SMA/FWB: S92) sold PV inverters with a total output of around 1.8 GW (Q1
2018: 1.8 GW). Sales decreased by 8.1% compared with the first three months
of the previous year to EUR167.8 million (Q1 2018: EUR182.5 million). This
is attributable in particular to the still weak project business in the
first quarter, whereas sales with string inverters was on a par with the
previous year. From January to March 2019, EBITDA amounted to EUR0.6 million
(EBITDA margin: 0.4%; Q1 2018: EUR17.5 million, 9.6%). Sales and earnings in
the first quarter were in line with the Managing Board's guidance published
on March 28, 2019. Order intake developed positively in all segments in the
first quarter. On this basis, the Managing Board is expecting a significant
increase in sales and earnings particularly in the second half of the year.

Net income amounted to -EUR10.6 million in the first quarter of 2019 (Q1
2018: EUR 2.8 million). Earnings per share thus amounted to -EUR0.30 (Q1
2018: EUR0.08). With net cash of EUR290.3 million (December 31, 2018:
EUR305.5 million) and an equity ratio of 42.2% (December 31, 2018: 42.9%),
SMA continues to have a solid balance-sheet structure.

\"In the first quarter of 2019, SMA's sales and earnings remained down year
on year, as the Management Board had predicted,\" said SMA Chief Executive
Officer Jürgen Reinert. \"At the same time, order intake has developed
particularly well in all segments in recent months. As of March 31, our
product-related order backlog rose by 33% to EUR233.2 million compared to
the end of the previous year. In the utility segment in particular, we are
experiencing an extremely positive development, which will have an impact on
sales and earnings in the second half of the year. The implementation of our
measures to reduce SMA's costs by approximately EUR40 million per year is
progressing as planned. With our SMA Energy Systems, we are also positioning
ourselves as a system provider with perfectly matched and modularly
extendable photovoltaic, storage and digital energy solutions for
residential, commercial and industrial applications, thus opening up further
sales potential.\"

The SMA Managing Board confirms its sales and earnings guidance for the 2019
fiscal year, which forecasts sales of between EUR800 million and EUR880
million and EBITDA of between EUR20 million and EUR50 million. The Managing
Board estimates that depreciation and amortization will amount to
approximately EUR50 million.

The quarterly statement for January to March 2019 can be found at
www.SMA.de/IR/FinancialReports. SMA's Annual General Meeting will be held in
Kassel on May 28, 2019.

About SMA
As a leading global specialist in photovoltaic system technology, the SMA
Group is setting the standards today for the decentralized and renewable
energy supply of tomorrow. SMA's portfolio contains a wide range of
efficient PV inverters, holistic system solutions for PV systems of all
power classes, intelligent energy management systems and battery-storage
solutions as well as complete solutions for PV diesel hybrid applications.
Digital energy services as well as extensive services up to and including
operation and maintenance services for PV power plants round off SMA's
range. SMA inverters with a total output of around 75 gigawatts have been
installed in more than 190 countries worldwide. SMA's multi-award-winning
technology is protected by more than 1,200 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 listed in
the SDAX 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
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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09.05.2019 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
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 808651



End of News DGAP News Service
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808651 09.05.2019

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SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal
Germany

Fax +49 561 9522-1133