12.05.2016
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: SMA Solar Technology AG Profitable in All Core Segments in the First Quarter of 2016
DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA Solar Technology AG Profitable in All Core
Segments in the First Quarter of 2016
12.05.2016 / 06:59
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 Profitable in All Core Segments in the First
Quarter of 2016
Overview of Q1 2016:
- Sales increase to EUR253.8 million (Q1 2015: EUR226.3 million),
exceeding the Managing Board's forecast
- Positive operating earnings (EBIT) of EUR25.3 million (Q1 2015: EUR-5.4
million), all core segments profitable
- International share again increases significantly to 92.4% (Q1 2015:
88.0%)
- Financial stability thanks to solid equity ratio of 49.9% (December 31,
2015: 49.1%), high net cash of EUR323.4 million (December 31, 2015:
EUR285.6 million) and a credit line of EUR100 million
- Managing Board confirms sales and earnings forecast for fiscal year
2016
Niestetal, May 12, 2016 - SMA Solar Technology AG (SMA/FWB: S92) has had a
successful start to the new fiscal year. The SMA Group's sales increased by
12.2% to EUR253.8 million in the first quarter of 2016 (Q1 2015: EUR226.3
million) and exceeded the Managing Board's forecast of EUR235 million to
EUR240 million. EBIT was EUR25.3 million (Q1 2015: EUR-5.4 million), in
line with the Managing Board's forecast of EUR23 million to EUR27 million.
With sales growth of more than 50% compared to the same period of the
previous year, the segment for commercial PV systems (Commercial) was the
largest growth driver and simultaneously returned to profitability. The
residential PV system (Residential) and large-scale PV power plant
(Utility) segments and Service business developed stably and were also
profitable. The additional increase in the international share of sales to
92.4% (Q1 2015: 88.0%) reflects the SMA Group's outstanding position
internationally. In the first quarter of 2016, the SMA Group increased its
sold PV inverter output by 21.3% to 2.1 GW (Q1 2015: 1.7 GW).
As a result of increased sales volumes and the fixed cost reduction, EBITDA
improved considerably in the first quarter of the fiscal year to EUR42.1
million (EBITDA margin: 16.6%; Q1 2015: EUR13.4 million, 5.9%).
Consolidated earnings amounted to EUR18.8 million (Q1 2015: EUR-7.9
million). Earnings per share thus amounted to EUR0.54 (Q1 2015: EUR-0.23).
Gross cash flow improved considerably in the reporting period to EUR40.6
million (Q1 2015: EUR16.1 million). Net cash increased to EUR323.4 million
(December 31, 2015: EUR285.6 million). With an equity ratio of 49.9%
(December 31, 2015: 49.1%), SMA has a comfortable equity capital base and
therefore an extremely solid balance sheet structure. SMA's bankability was
also underscored by a revolving credit facility of EUR100 million agreed
upon at the end of April with a consortium of Commerzbank, Deutsche Bank
and Hessische Landesbank to secure financing of current assets in the long
term. SMA will use the financial leeway this provides to further expand its
operations and maintenance services (O&M) business and thus further
diversify its sales and earnings base.
"In the first quarter of 2016, SMA successfully continued on the path to
more growth and sustainable profitability," explained SMA Chief Executive
Officer Pierre-Pascal Urbon. "We have a balanced distribution of sales over
all segments and regions and have generated positive earnings in all
segments of the core business. The strategic partnership we entered into
with Tigo Energy in April will also enable us to tap into the growing
market for smart module technology, a market that was previously closed to
us. With this strategic step, SMA has laid the foundation for further
growth, especially in the Residential and Commercial segments, and will
globally market a highly flexible and cost-effective solution to optimize
the performance of PV modules in the next few months."
The SMA Managing Board confirms its sales and earnings forecast for the
current fiscal year. This forecast anticipates sales of EUR950 million to
EUR1,050 million and a significant increase in EBIT to between EUR80
million and EUR120 million. The forecast is supported by a high order
backlog of EUR691.6 million at the end of the first quarter of 2016.
You can find the quarterly financial report for January to March 2016 at
www.SMA.de/IR/FinancialReports.
About SMA
The SMA Group with sales of EUR1 billion in 2015 is the global market
leader for solar inverters, a key component of all PV plants, and offers
innovative key technologies for future power supply structures. It is
headquartered in Niestetal, near Kassel, Germany, and is represented in 20
countries. The Group employs more than 3,000 people worldwide. SMA has an
extensive range of products, which offers the right inverters for all
module types and plant sizes; for small residential systems as well as
large-scale plants, grid-connected photovoltaic systems as well as off-grid
and hybrid systems. Moreover, SMA offers system technology for various
battery technologies and system sizes and collaborates with renowned
battery manufacturers and companies from the automotive industry. The SMA
technology is protected by about 700 patents and utility models worldwide.
The range of services is supplemented by comprehensive services and
operational management of large-scale PV power plants. 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 currently the
only company in the solar industry that 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
[email protected]
Press Contact:
Susanne Henkel
Manager Corporate Press
Tel. +49 561 9522-1124
Fax +49 561 9522-421400
[email protected]
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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12.05.2016 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.
Media archive at www.dgap-medientreff.de and 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: [email protected]
Internet: http://www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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