DGAP-News: Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to the Managing Board and Supervisory Board with a Clear Majority

DGAP-News: SMA Solar Technology AG / Key word(s): AGM/EGM
Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to
the Managing Board and Supervisory Board with a Clear Majority

28.05.2019 / 15:46
The issuer is solely responsible for the content of this announcement.


SMA Solar Technology AG Corporate News

Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to
the Managing Board and Supervisory Board with a Clear Majority

Niestetal, May 28, 2019 - The shareholders of SMA Solar Technology AG
(SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the 2018 fiscal year with a clear majority of over 99% and over
97% respectively at today's Annual General Meeting in Kassel. The remaining
agenda items also received the majority approval of the Annual General
Meeting. Approximately 250 shareholders attended the 2019 Annual General
Meeting of SMA Solar Technology AG and 86% of those with voting rights were

The Annual General Meeting accepted the proposal of the Managing Board and
Supervisory Board that no dividend be distributed for the 2018 fiscal year.
SMA achieved sales of EUR760.9 million and EBITDA of EUR-69.1 million in
2018. \"2018 was a difficult year for SMA,\" explained SMA Chief Executive
Officer, Jürgen Reinert. \"We were confronted by many challenges including a
shortage of components, increased price pressure as a result of the
internationalization of Chinese competitors, project delays and storage
system bottlenecks. This all resulted in a negative net income. To preserve
our high net liquidity and be in a position to fund SMA's further
development as a system and solution provider from our own resources, the
SMA Managing Board and Supervisory Board have rejected the option of a
dividend payment from the company's assets. Our shareholders supported this
position at the Annual General Meeting.\"

After comparatively low sales figures in the first quarter of 2019, the SMA
Managing Board is expecting sales and earnings to significantly increase in
the second half of the year. \"The market situation has considerably
improved,\" said Reinert. \"In addition, our increased marketing and sales
activities are paying off. We are reporting a very high order intake at the
moment, especially in the project business. There is also a positive trend
in the segments for residential and commercial PV systems. Since the end of
March, our product-related order backlog has risen again by 80% to over
EUR420 million. With this order backlog and the sales we have generated in
the year to date, we can already achieve more than 75% of our annual sales

Against this backdrop, the SMA Managing Board is confirming 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 presentation and the speech given by the Managing Board, along with
further information on the Annual General Meeting, can be found online at

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 1,300 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

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

Press Contact:
Susanne Henkel
Manager Corporate Press
Tel. +49 561 9522-1124

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.


28.05.2019 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
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: www.sma.de
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 816743

End of News DGAP News Service

816743 28.05.2019

Contact for Voting Rights Notifications

SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal

Fax +49 561 9522-1133