2021-08-12

DGAP-News: SMA Solar Technology AG Significantly Improves Earnings in the First Half of 2021

DGAP-News: SMA Solar Technology AG / Key word(s): Half Year Report/Half Year
Results
SMA Solar Technology AG Significantly Improves Earnings in the First Half of
2021

12.08.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG Press Release

SMA Solar Technology AG significantly improves earnings in the first half of
2021

Overview of H1 2021:

- 6.8 GW inverter output sold (H1 2020: 7.1 GW)

- Sales of €488 million (H1 2020: €514 million)

- Earnings before interest, taxes, depreciation and amortization (EBITDA)
increased to €38 million
(H1 2020: €24 million)

- Equity ratio still high at 42% (December 31, 2020: 42%)

- Managing Board confirms sales and earnings guidance for 2021 fiscal year


Niestetal, August 12, 2021 - SMA Solar Technology AG (SMA/FWB: S92)
generated earnings before interest, taxes, depreciation and amortization
(EBITDA) of €38.1 million in the first half of 2021 (EBITDA margin: 7.8%; H1
2020: €24.0 million, 4.7%). The company has thus significantly increased its
profitability. Between January and June 2021, the SMA Group sold inverters
with an accumulated output of around 6.8 GW and generated €488.3 million in
sales (H1 2020: €514.2 million). Sales were slightly lower than in the
previous year because small and medium-sized businesses were still reluctant
to invest in the first few months of the year due to the continuing
uncertainties surrounding the coronavirus pandemic. Accordingly, demand in
the Business Solutions segment fell short of expectations and prices
dropped. By contrast, the Home Solutions and Large Scale & Project Solutions
segments recorded an increase in sales. The shortage of electronic
components had a minor overall impact on the level of sales.

Net income increased significantly to €13.3 million (H1 2020: €2.7 million).
Earnings per share thus increased to €0.38 (H1 2020: €0.08). Net cash
decreased to €170.0 million (December 31, 2020: €226.0 million). This is due
in particular to increased stockpiling in view of the general shortage of
materials. Stockpiling supports SMA's delivery capacity for the expected
positive business performance to come in the second half of 2021. At 42.4%,
the equity ratio remained at the same level as at the end of the previous
year (December 31, 2020: 41.8%). In addition, SMA has a credit line of €100
million from domestic banks.

\"Compared with the first six months of the previous year, we have increased
our earnings (EBITDA) by around 60% in the first half of 2021. This is due
in particular to our continuous improvement of the product mix and cost
structure,\" explains SMA Chief Executive Officer Jürgen Reinert. \"In the
segments for private residential PV systems and PV power plants, we were
able to increase sales and the order backlog compared with the previous
year. By contrast, we suffered a significant drop in sales of commercial
systems due to lower demand and lower prices. Small and medium-sized
businesses were still reluctant to invest in the first few months of the
year due to the coronavirus pandemic. However, orders received in this
segment increased again in the second quarter. We therefore expect positive
sales and earnings development here as well in the second half of the year.\"

The SMA Managing Board confirms 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. The ongoing strained supply situation for
electronic components could lead to delivery capacity constraints for SMA in
the second half of the year. The Managing Board is responding to the
situation by implementing tighter and more intensive supplier management
policies and putting in place a stockpiling strategy.

The Half-Yearly Financial Report for January to June 2021 is available
online at www.SMA.de/IR/FinancialReports.

About SMA
As a leading global specialist in photovoltaic and storage 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 and battery inverters, holistic system
solutions for PV and battery-storage systems of all power classes,
intelligent energy management systems and 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
Senior Corporate Communications Manager
Tel. +49 561 9522-1124
Presse@SMA.de

Disclaimer:
This press release 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 press release 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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12.08.2021 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.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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: 1225763



End of News DGAP News Service
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1225763 12.08.2021

Contact for Voting Rights Notifications

SMA Solar Technology AG

Investor Relations
Sonnenallee 1
34266 Niestetal
Germany

Stimmrechtsmitteilungen@sma.de