12.11.2015
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: SMA Solar Technology AG Generates Positive Operating Earnings from January to September 2015
DGAP-News: SMA Solar Technology AG / Key word(s): 9-month figures
SMA Solar Technology AG: SMA Solar Technology AG Generates Positive
Operating Earnings from January to September 2015
12.11.2015 / 07:00
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SMA Solar Technology AG - Press Release
SMA Solar Technology AG Generates Positive Operating Earnings from January
to September 2015
Overview January to September 2015:
- Sales increase by approximately 27% to EUR699.2 million (Q1-Q3 2014:
EUR549.3 million)
- International share rises significantly to 86.7% (Q1-Q3 2014: 75.9%)
- Positive operating earnings (EBIT) of EUR3.4 million (Q1-Q3 2014:
EUR-72.7 million)
- Net cash increases to EUR250.6 million (December 31, 2014: EUR225.4
million) despite severance payments
- Equity ratio still high at 46.7% (December 31, 2014: 46.8%)
- Managing Board confirms raised sales and earnings guidance for fiscal
year 2015
Niestetal, November 12, 2015 - From January to September 2015, SMA Solar
Technology AG (SMA/FWB: S92) recorded good results, which included an
increase in sales of 27.3% to EUR699.2 million (Q1-Q3 2014: EUR549.3
million). Sales were mainly driven by the large-scale PV power plant
segment (Utility). At the same time, the residential PV system and
commercial PV system segments as well as service business also posted sales
growth. A high international share of sales of 86.7% (Q1-Q3 2014: 75.9%)
reflects SMA Group's outstanding international position. The most important
foreign markets in the reporting period were North America, Japan, Great
Britain and Australia. SMA sold PV inverters with an output of 5.0 GW in
the first nine months of the year (Q1-Q3 2014: 3.3 GW). This is nearly as
much as in all of last year.
As a result of increased sales volumes, reduced fixed costs and positive
exchange rate effects, EBITDA improved considerably to EUR58.9 million
(Q1-Q3 2014: EUR-8.2 million). From January to September 2015, SMA
generated positive earnings before interest and taxes (EBIT) of EUR3.4
million after negative earnings in the same period of the previous year
(Q1-Q3 2014: EUR-72.7 million).
Despite severance payments in the wake of staff reductions, gross cash flow
improved considerably in the reporting period to EUR26.4 million (Q1-Q3
2014: EUR-46.1 million). Net cash increased to EUR250.6 million (December
31, 2014: EUR225.4 million). With an equity ratio of 46.7% (December 31,
2014: 46.8%), SMA remains financially sound and is therefore able to
implement the company strategy from its own resources.
"SMA completed the turnaround earlier than expected having already
generated positive operating earnings before interest and taxes in the
first nine months of the year," explained SMA Chief Executive Officer and
Chief Financial Officer Pierre-Pascal Urbon. "We have continued to extend
our technology and market leadership in recent months and are the clear
global market leader according to a study by IHS. As a photovoltaic systems
specialist, the success of our strategy of offering holistic solutions for
all attractive photovoltaic markets, all module technologies and all power
classes is reflected in even distribution of sales, both in regions and
market segments. SMA is in an outstanding position to benefit from the
increase in global demand expected in 2016." The company has an attractive
cash flow profile thanks to an adjusted fixed cost base, reduced working
capital and low capital intensity. In 2015, SMA will generate positive free
cash flow and further increase its net liquidity.
Against the backdrop of its positive business growth from January to
October 2015, a significantly better sales and earnings development in the
third quarter compared to the same period of the last year (sales Q3 2015:
EUR269.9 million, Q3 2014: EUR208.1 million; EBIT Q3 2015: EUR18.3 million,
Q3 2014: EUR-10.3 million) as well as a high order backlog, the Managing
Board of SMA has again raised its sales and earnings forecast for the
current fiscal year on November 11, 2015. The new forecast predicts sales
of EUR925 million to EUR975 million (previously: EUR850 million to EUR900
million) and an operating result (EBIT) of EUR10 million to EUR30 million
(previously: EUR0 million to EUR10 million).
You can find the quarterly financial report for January to September 2015
at www.SMA.de/IR/FinancialReports.
About SMA
The SMA Group with sales of more than EUR800 million in 2014 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. The technology is protected by 740 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 also 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 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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12.11.2015 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.
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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
End of News DGAP News Service
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412117 12.11.2015
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