DGAP-News: SMA Solar Technology AG generates significant growth in sales and earnings in first half of 2020 despite coronavirus crisis

DGAP-News: SMA Solar Technology AG / Key word(s): Half Year Results
SMA Solar Technology AG generates significant growth in sales and earnings
in first half of 2020 despite coronavirus crisis

13.08.2020 / 07:00
The issuer is solely responsible for the content of this announcement.


SMA Solar Technology AG Corporate News

SMA Solar Technology AG generates significant growth in sales and earnings
in first half of 2020 despite coronavirus crisis

Overview of H1 2020:

- 7.1 GW inverter output sold (H1 2019: 4.0 GW)

- Sales increased to €514 million (H1 2019: €363 million) and EBITDA to €24
million (H1 2019: €9 million)

- Financial stability thanks to solid equity ratio of 42% (December 31,
2019: 38%)

- Order backlog remains high despite coronavirus crisis at €760 million,
with €321 million attributable to product business

- Managing Board confirms sales and earnings guidance for fiscal year 2020

Niestetal, August 13, 2020 - In the first half of 2020, SMA Solar Technology
AG (SMA/FWB: S92) sold PV inverters with a total output of around 7.1 GW (H1
2019: 4.0 GW). Sales increased by 42% compared with the first half of 2019
to €514 million (H1 2019: €363 million). The growth is mainly the result of
the strong project business in the U.S. and the ongoing positive trade
business in Europe. From January to June 2020, EBITDA amounted to €24
million, considerably higher than the comparative figure for the previous
year (EBITDA margin: 4.7%; H1 2019: €9 million, 2.3%).

Net income improved significantly to €3 million in the first half of 2020
(H1 2019: -€14 million). Earnings per share thus amounted to €0.08 (H1 2019:
-€0.41). With net cash of €201 million (December 31, 2019: €303 million) and
an equity ratio of 42.1% (December 31, 2019: 37.6%), SMA has a sustainably
solid balance-sheet structure.

\"We are also feeling the effects of the coronavirus crisis and generated
lower sales than expected in the second quarter,\" said SMA Chief Executive
Officer Jürgen Reinert. \"Nevertheless, we were able to significantly
increase our sales and earnings year-on-year both in the first half of the
year as a whole and in the second quarter of 2020, and also achieve a
positive result at EBIT level. This was possible only thanks to SMA's good
IT infrastructure, the great dedication and flexibility of our employees,
active supplier management, and our continuous customer support. Another
very positive aspect is that we did not have to use any government support.
As we had forecast, the order intake in the second quarter was lower as a
result of the coronavirus crisis. However, we anticipate a global recovery
in demand in the coming months. In this context, we still expect to be able
to meet our sales and earnings targets. We also see good prospects for SMA
in the medium and long term. In tackling the coronavirus crisis, there is a
historic opportunity to make the economy more sustainable and resilient. Use
of renewable energy will play a crucial role here. Political initiatives
such as the European Green Deal and U.S. presidential candidate Joe Biden's
climate protection plan are steps in the right direction. Now we need to
consistently implement them. SMA is ready and ideally equipped to help shape
this process with our extensive expertise and our innovative and sustainable

Despite the continuing coronavirus crisis, the SMA Managing Board is
confirming its sales and earnings guidance for the 2020 fiscal year
published on February 7, 2020. It 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 Half-Yearly Financial Report for January to June 2020 is available
online at www.SMA.de/IR/FinancialReports.

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 90 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

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.


13.08.2020 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.

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
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: 1116719

End of News DGAP News Service

1116719 13.08.2020

Contact for Voting Rights Notifications

SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal