The subdued demand and weak commercial order situation can be explained by a number of factors. The debate surrounding the expansion of photovoltaic energy has unsettled end-customers just as much as the current euro and debt crisis. Pleasing development in the project business is testament to the current favorable general conditions for the expansion of photovoltaic energy. Investors are currently benefiting from historically low interest rates and a significant reduction in the specific costs of constructing a large-scale solar power plant.
SMA is dependent on the development of global demand and makes its products to order. In order to respond rapidly to the frequent fluctuations in demand in the various market segments, SMA has been using the tactic of employing temporary employees for many years. In view of the current order situation and the weak demand expected during the winter months based on past experience, SMA will be forced to phase out the employment of around 1,000 of its present temporary employees by the end of the year.
For 2012, the Managing Board expects to see stagnated or moderate growth in global demand for solar power plants. It is currently impossible to give a reliable forecast for 2012 and subsequent fiscal years in view of the manifold influencing factors.
SMA Solar Technology AG (SMA/FWB: S92) is the global market leader for solar inverters, the leading supplier of transformers and chokes, and a provider of innovative energy supply solutions for mass transit and main-line rail transportation. The SMA Group generated sales of €1.9 billion in 2010. It is headquartered in Niestetal, near Kassel, Germany, and is represented in 19 countries on four different continents. The Group employs a staff of over 5,300 worldwide, plus a number of temporary employees which varies on a seasonal basis. The multi award-winning product range covers solar inverters for roof systems, major solar projects and off-grid systems, enabling SMA to provide a technically optimized inverter solution for all size categories and system types. Its range of services is complemented by a worldwide service network. The highly flexible manufacturing plants for solar inverters in Germany and North America have a capacity of approximately 11.5 GW a year. The SMA Group also operates a manufacturing plant for electromagnetic core components in Poland. Since 2008, SMA has been listed on the Prime Standard of the Frankfurt Stock Exchange and also in the TecDAX index. In recent years, SMA has received numerous awards for its excellence as an employer and achieved first place in 2011 in the federal “Great Place to Work” competition.
SMA Solar Technology AG
Head of Corporate Communications:
Anja Jasper (Vice President)
Phone +49 561 9522 28 05
Phone +49 561 9522 11 24
Fax +49 561 9522 11 03
Director Investor Relations
Phone +49 561 9522-22 22
Fax +49 561 9522-22 23
Investor Relations Officer
Phone +49 561 9522-11 64
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 executive 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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