Contrary to expectations, the decline in business recorded since September of this year at SMA Solar Technology AG (SMA/FWB: S92) continued in November. The SMA Managing Board therefore expects sales of only €760 million to €780 million for 2018 (previously €800 million to €850 million). The increasing necessary restructuring measures and additional one-off effects will have a further impact on earnings in 2018. The Managing Board expects negative EBITDA in the medium to upper double-digit million euro range (previously: break-even to slightly negative EBITDA). The SMA Managing Board continues to expect sales growth and positive EBITDA for 2019.
“The SMA Managing Board has decided early on to adapt the company’s structures to the changed conditions that are characterized by continued strong price pressure,” explained SMA CEO Dr. Jürgen Reinert. “We expect to close the discussions with the works council on the planned restructuring measures soon. We will then start with the implementation at the beginning of next year. In addition, we have already started to introduce new products and solutions in the international markets and have enhanced our sales initiatives in order to increase sales and achieve positive EBITDA in the following year.”
The SMA Group with sales of around €900 million in 2017 is a global leader for solar inverters, a key component of all PV plants. SMA offers a wide range of products and solutions that allow for high energy yields for residential and commercial PV systems and large-scale PV power plants. To increase PV self-consumption efficiently, SMA system technology can easily be combined with different battery technologies. Intelligent energy management and digital energy solutions, comprehensive services and operational management of PV power plants round off SMA’s range. The company is headquartered in Niestetal, near Kassel, Germany, is represented in 19 countries and has more than 3,000 employees worldwide, including 500 working in Development. SMA’s multi-award-winning technology is protected by more than 1,200 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.
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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.