30.03.2016
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: 2015 Results - SMA Solar Technology AG Completes Company Transformation and Returns
DGAP-News: SMA Solar Technology AG / Key word(s): Final Results
SMA Solar Technology AG: 2015 Results - SMA Solar Technology AG Completes
Company Transformation and Returns
30.03.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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SMA Solar Technology AG - Corporate News
2015 Results: SMA Solar Technology AG Completes Company Transformation and
Returns to Sales Growth and Profitability Faster than Expected
Overview:
- Sales grow by 24% to EUR999.6 million (2014: EUR805.4 million)
- International share rises significantly to 87.3% (2014: 78.3%)
- Positive operating earnings (EBIT) of EUR34.3 million (2014: EUR-164.9
million)
- Net cash increased to EUR285.6 million (December 31, 2014: EUR225.4
million) despite severance payments
- Very sound balance sheet with an equity ratio of 49.1% (December 31,
2014: 46.8%)
- Managing Board recommends dividend payment of EUR0.14 per share (payout
ratio of 34%)
- Managing Board confirms sales and earnings forecast for fiscal year
2016
Niestetal, March 30, 2016 - SMA Solar Technology AG (SMA/FWB: S92) posted a
good business performance in 2015, increasing its sales by around 24% to
EUR999.6 million (2014: EUR805.4 million). Sales were mainly driven by the
large-scale PV power plant segment (Utility). At the same time, the
residential PV system (Residential) and commercial PV system (Commercial)
segments as well as service business also posted sales growth. A high
international share of sales of 87.3% (2014: 78.3%) reflects the SMA
Group's outstanding international position. The most important foreign
markets in the reporting period were North America, Great Britain, Japan
and Australia. Over the course of 2015, SMA sold PV inverters with a total
output of 7.3 GW (2014: 5.1 GW), representing an increase of 43.7%.
As a result of the good sales development, fixed cost reduction and
positive exchange rate effects, EBITDA improved considerably to EUR113.3
million in 2015 (2014: EUR-58.4 million). EBIT increased to EUR34.3 million
(2014: EUR-164.9 million). Significant growth in earnings was generated in
the Utility, Residential und Service segments. Overall, SMA has gotten
itself back on the road to long-term profitability much more quickly than
originally planned.
Despite severance payments as a result of cutting 1,400 full-time positions
as part of the Company's transformation, gross cash flow improved
considerably by EUR99.1 million to EUR61.8 million in the reporting period
(2014: EUR-37.3 million). Net cash increased to EUR285.6 million (December
31, 2014: EUR225.4 million). With an equity ratio of 49.1% (December 31,
2014: 46.8%), SMA has a comfortable equity capital base and therefore a
very solid balance sheet structure. Based on the economic success in the
past fiscal year and SMA's strong balance sheet, the Managing Board
recommends that the Supervisory Board propose a dividend payout of EUR0.14
per share for fiscal 2015 at the Annual General Meeting on May 31, 2016.
The amount paid out in dividends will therefore total EUR4.9 million. This
corresponds to a dividend payout ratio of 34% of consolidated earnings.
"The measures taken in the past year are already bearing fruit, and SMA has
returned to profitability earlier than originally expected. We can now
generate profits with considerably lower sales. As such, we have not only
delivered more than we promised, but we did so while the Group was
undergoing its biggest restructuring ever. Even in difficult times, we did
not lose sight of the future and systematically geared SMA towards the
digitization of the energy industry. The partnerships concluded in recent
months with Tesla, Daimler and the transmission grid operator TenneT point
the way to the future. As a global market leader for photovoltaic system
technology, we are an integral part of the future energy industry,"
explains SMA CEO Pierre-Pascal Urbon.
For the first quarter of 2016, the SMA Managing Board is anticipating sales
of EUR235 million to EUR240 million (Q1 2015: EUR226.3 million) and
operating earnings (EBIT) of EUR23 million to EUR27 million (Q1 2015:
EUR-5.4 million). The SMA Managing Board is confirming its sales and
earnings guidance for the current fiscal year, which forecasts sales of
EUR950 million to EUR1,050 million and a significant increase in operating
earnings (EBIT) to between EUR80 million and EUR120 million.
The Annual Report for 2015 is available online at
www.SMA.de/IR/FinancialReports.
About SMA
With sales of EUR1 billion in 2015, the SMA Group 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 3,500 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. 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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30.03.2016 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,
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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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