2020-06-04

DGAP-News: Annual General Meeting of SMA Solar Technology AG grants full discharge to the Managing Board and Supervisory Board with a clear majority and elects new Supervisory Board members

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 and elects
new Supervisory Board members

04.06.2020 / 15:49
The issuer is solely responsible for the content of this announcement.

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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 and elects
new Supervisory Board members

Niestetal, June 4, 2020 - The shareholders of SMA Solar Technology AG
(SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the 2019 fiscal year with a clear majority of over 99% and over
98% at today's Annual General Meeting, which was held online due to the
coronavirus crisis. There was also a large majority in favor of the other
proposals. Uwe Kleinkauf and Jan-Henrik Supady were elected to the
Supervisory Board of SMA as new shareholder representatives. They succeed
SMA co-founder Peter Drews and the former Chairman of the Supervisory Board
Dr. Erik Ehrentraut, who did not stand for re-election. The shareholders
again elected Roland Bent, Kim Fausing and Alexa Hergenröther as further
representatives of the Supervisory Board. They also elected for the first
time Ilonka Nussbaumer, who had been judicially appointed in September 2019
following the departure of company co-founder Reiner Wettlaufer. Around 150
shareholders attended the 2020 Annual General Meeting of SMA Solar
Technology AG online. 86% of those with voting rights were present.

The Annual General Meeting accepted the proposal of the Managing Board and
Supervisory Board that no dividend be distributed for the 2019 fiscal year.
SMA achieved sales of €915 million and EBITDA of €34 million in 2019. The
sales growth of around 20% compared with the previous year is mainly
attributable to the excellent business performance in the Home Solutions and
Large Scale & Project Solutions segments. Here SMA was able to regain market
share and generate more sales than in the previous year, especially in the
target markets Germany and the U.S., but also in new markets.

In the first quarter of 2020, SMA posted a sales increase of 72% to €288
million compared with the first three months of the previous year. From
January to March 2020, EBITDA amounted to €12 million, also considerably
higher than the comparative figure for the previous year. Order intake
developed positively in all segments in the first quarter.

\"Thanks to our successful restructuring and cost reduction measures, an
increased customer focus and targeted sales activities, we have
significantly improved sales and earnings in the past year,\" said SMA Chief
Executive Officer Jürgen Reinert. \"We also made an excellent start to 2020,
significantly increasing sales and earnings in the first quarter and
generating positive EBIT of €1.6 million. Order intake also continued to
develop very well at €330 million in the first three months of the year.
Through active management and process adjustments, we have maintained our
supply chain and production capacity throughout the coronavirus crisis and
suffered only minor supply shortages. Due to the coronavirus crisis, we are
anticipating a decline in the coming months, which we believe will be
followed by a market recovery starting at the end of the third quarter. In
addition, the sales and product-related order backlog in the first quarter
already cover over 60% of the Managing Board's sales guidance for the 2020
fiscal year. On this basis, we continue to assume that we will meet our
sales and earnings targets and increase our market shares in key target
markets.\"

Despite the current coronavirus crisis, the SMA Managing Board is confirming
its sales and earnings guidance for the 2020 fiscal year published on
February 7, 2020, which predicts a sales increase to between €1.0 billion
and €1.1 billion. SMA is well positioned to gain market shares even in the
current circumstances. The Managing Board is also implementing further cost
reduction measures. Against this background, the SMA Managing Board is still
expecting an increase in EBITDA to between €50 million and €80 million.

The Managing Board and Deputy Chairman of the Supervisory Board, Kim
Fausing, thanked Dr. Erik Ehrentraut and company co-founders Peter Drews and
Reiner Wettlaufer for their many years of excellent and trusting
collaboration, in which they contributed their extensive experience and
expertise in an environment characterized by major changes. \"Uwe Kleinkauf
and Jan-Henrik Supady are two highly skilled successors who possess
comprehensive management expertise for the Supervisory Board,\" said Kim
Fausing.

Martin Breul, Oliver Dietzel, Johannes Häde, Yvonne Siebert, Romy Siegert
and Dr. Matthias Victor represent employees on the twelve-member SMA
Supervisory Board with equal representation alongside shareholder
representatives Roland Bent, Kim Fausing, Alexa Hergenröther, Uwe Kleinkauf,
Ilonka Nussbaumer and Jan-Henrik Supady. At the constituent meeting of the
Supervisory Board, which took place following the Annual General Meeting,
Uwe Kleinkauf was elected as the Chairman. \"I would like to thank the
shareholders and Supervisory Board members for the trust they have placed in
me,\" said Uwe Kleinkauf. \"With my commitment to the SMA Supervisory Board, I
would like to express the deep attachment of the founding families to SMA
also in the next generation. I strongly believe that the future belongs to
renewable energies, and that SMA will continue to play an important role in
that future.\" Kim Fausing was confirmed as Deputy Chairman of the
Supervisory Board.

The presentation and speech given by the Managing Board as well as an
overview of the composition of the Supervisory Board and further information
on the Annual General Meeting can be found online at
www.sma.de/en/investor-relations/annual-general-meeting.

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 85 gigawatts have been
installed in more than 190 countries worldwide. SMA's multi-award-winning
technology is protected by more than 1,500 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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04.06.2020 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: 1063495



End of News DGAP News Service
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1063495 04.06.2020

Contact for Voting Rights Notifications

SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal
Germany

Fax +49 561 9522-1133