2021-03-25
DGAP-News: SMA Solar Technology AG / Key word(s): Annual Report/Annual
Results
SMA Solar Technology AG surpasses billion euro mark in sales and doubles
operating earnings in 2020 despite coronavirus crisis - Managing Board
confirms growth forecast for 2021
25.03.2021 / 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 surpasses billion euro mark in sales and doubles
operating earnings in 2020 despite coronavirus crisis - Managing Board
confirms growth forecast for 2021
Overview of fiscal year 2020:
- Inverter output sold rises to 14.4 GW (2019: 11.4 GW)
- Sales increase by around 12% year on year to €1,027 million (2019: €915
million)
- Earnings before interest, taxes, depreciation and amortization (EBITDA) of
€72 million, twice
as high as in the previous year (2019: €34 million)
- Equity ratio still high at 42% (December 31, 2019: 38%)
- Managing Board and Supervisory Board recommend dividend payment of €0.30
per share
(2019: €0.00 per share)
- Managing Board anticipates sales of between €235 million and €245 million
as well as EBITDA of between €14 million and €17 million in first quarter of
2021 and confirms sales and earnings guidance for the year as a whole
Niestetal, March 25, 2021 - In fiscal year 2020, SMA Solar Technology AG
(SMA/FWB: S92) sold inverters with a cumulative output of around 14.4 GW.
Inverter output sold was thus approximately 26% above the previous year's
level (2019: 11.4 GW). The SMA group's sales increased by around 12% to
€1,026.6 million (2019: €915.1 million). This growth is attributable in
particular to the very good business performance in the Large Scale &
Project Solutions and Home Solutions segments. EBITDA doubled to €71.5
million (EBITDA margin: 7.0%; 2019: €34.2 million, 3.7%).
Net income came to €28.1 million (2019: -€8.6 million). Earnings per share
thus increased to €0.81 (2019:
-€0.25). Net cash decreased to €226.0 million (2019: €303.0 million). The
decline is in particular due to the fact that the comparative figure at the
end of 2019 included increased customer prepayments on account of a major
order that was processed in the first quarter of 2020. By the end of 2020,
customer prepayments were back to normal levels. The equity ratio increased
to 41.8% at the end of the reporting year (2019: 37.6%). In addition, SMA
has a credit line of €100 million from domestic banks. Based on the positive
business development last year and the growth forecast for 2021, the
Managing Board and Supervisory Board will recommend that the Annual General
Meeting on June 1, 2021, set a dividend of €0.30 per share for the 2020
fiscal year. This corresponds to a dividend payout ratio of 37% of net
income.
\"SMA successfully overcame the considerable challenges related to the
coronavirus crisis in 2020 and achieved the growth objectives for sales and
earnings that we set before the pandemic broke out,\" declared SMA Chief
Executive Officer Jürgen Reinert. \"In the segment for residential PV
applications, sales significantly increased mainly in Europe, the Middle
East and Africa, while in the utility-scale PV power plant business, we
gained market share particularly in the U.S. and further consolidated our
leading position in Australia. There, we have an overall market share of
around 65% of the utility-scale PV power plant capacity that is already in
operation or has been approved. I am also particularly pleased to see that
we reached an important milestone as part of our sustainability strategy in
2020. The SMA headquarters is now supplied with electricity exclusively from
PV and wind turbine systems in the immediate vicinity. Our heating supply
here is now also completely CO2 neutral. It is our goal to make SMA fully CO2
neutral around the world starting 2025 at the latest.\"
For the first quarter of 2021, the SMA Managing Board is anticipating sales
of €235 million to €245 million (Q1 2020: €287.9 million) and earnings
before interest, taxes, depreciation and amortization (EBITDA) of €14
million to €17 million (Q1 2020: €12.3 million). The SMA Managing Board is
confirming its sales and earnings guidance for the 2021 fiscal year as
published on February 5, 2021, which forecasts an increase in sales to
between €1,075 million and €1,175 million and EBITDA of between €75 million
and €95 million. \"Due to the ongoing coronavirus crisis worldwide and
increasing prices for raw materials and PV modules, we have recorded a
relatively subdued start to the year,\" said Reinert. \"At the same time,
incoming orders increased in March. Our current product order backlog plus
sales already cover around 50% of the annual guidance. We are assuming that
SMA can strengthen its position in key markets over the course of the year
and benefit from the expected growth of the PV markets in Europe and America
as well as that of the global storage market. The continuous improvement of
our product portfolio and the implementation of cost reduction measures will
have a positive effect on profitability in 2021. We will closely monitor the
ongoing developments in relation to the coronavirus and respond quickly and
flexibly at all times. We believe that SMA will remain well equipped to
respond appropriately to all developments and to achieve the forecast sales
and earnings growth during the current fiscal year.\"
The SMA Annual Report 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 more than 100 gigawatts have
been installed in more than 190 countries worldwide. SMA's
multi-award-winning technology is protected by more than 1,600 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 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
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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25.03.2021 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, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1178209
End of News DGAP News Service
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1178209 25.03.2021
