13.05.2015
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: SMA Solar Technology AG Posts Significant Sales Growth and Improves Operating Earnings in First Quarter of 2015
DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA Solar Technology AG Posts Significant
Sales Growth and Improves Operating Earnings in First Quarter of 2015
13.05.2015 / 07:00
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SMA Solar Technology AG - Corporate News
SMA Solar Technology AG Posts Significant Sales Growth and Improves
Operating Earnings
in First Quarter of 2015
Overview of Q1 2015:
- Sales increase year-on-year to EUR226.3 million (Q1 2014: EUR176.3
million)
- International share rises significantly to 88.0% (Q1 2014: 71.1%)
- Operating earnings (EBIT) improve considerably to EUR-5.4 million (Q1
2014: EUR-22.4 million)
- Financial stability thanks to high amount of net cash of EUR223.7
million (December 31, 2014:
EUR225.4 million) and a high equity ratio
of 46.6% (December 31, 2014: 46.8%)
- Most extensive staff reduction in the company's history already largely
completed without
involuntary layoffs
- Managing Board confirms sales and earnings guidance for fiscal year
2015 and forecasts sales of EUR400 million to EUR450 million and
operating earnings (EBIT) of EUR-15 million to EUR-25 million for the
first six months of 2015
Niestetal, May 13, 2015 - SMA Solar Technology AG (SMA/FWB: S92) posted a
good start to fiscal year 2015 and achieved the forecast sales target in
the first quarter. Compared to the same quarter of the previous year, the
SMA Group's sales from January to March 2015 climbed by 28% to EUR226.3
million (Q1 2014: EUR176.3 million). The main sales driver was the segment
of large-scale PV power plants. The international share of sales rose
significantly to 88.0% (Q1 2014: 71.1%). This underscores SMA's outstanding
international position. No other competitor has a comparable international
infrastructure or comparable product and service portfolio. The SMA Group's
most important foreign markets in the first three months of the year were
North America, Japan, Great Britain and Australia. SMA sold PV inverters
with a total output of 1.7 GW in the reporting period (Q1 2014: 1.0 GW).
As a result of increased sales volumes, reduced fixed costs and positive
exchange rate effects, EBITDA improved considerably to EUR13.4 million (Q1
2014: EUR-2.5 million). At EUR-5.4 million (EBIT margin: -2.4%), EBIT was
at the upper end of the Managing Board's earnings forecast (forecast:
EUR-5.0 million to EUR-10.0 million). In the same period of the previous
year, SMA had generated EBIT of EUR-22.4 million (EBIT margin: -12.7%).
Consolidated earnings amounted to EUR-7.9 million (Q1 2014: EUR-16.7
million).
From January to March 2015, the SMA Group generated significant positive
gross cash flow of EUR16.1 million. In the same period of the previous
year, this figure was EUR-9.4 million. Net cash remained at the same high
level as at the end of the previous year at EUR223.7 million (December 31,
2014: EUR225.4 million). With an equity ratio of 46.6% (December 31, 2014:
46.8%), SMA remains financially sound and can implement the strategy from
its own resources.
"We are satisfied with the financial performance in the first quarter of
2015. With the sales generated and the order backlog at the end of the
first quarter, we have already achieved more than 60% of our sales target
for the year as a whole. The earnings situation developed better than
planned, partly due to the reduction of fixed costs already initiated and
to exchange rate effects. In addition, we maintained our high net cash and
implemented the measures to transform SMA as planned in the first quarter
of 2015. Returning to sustainable profitability is not a sprint but a
marathon for us - which is why we will also continue systematically
implementing the strategy presented at the start of the year," explains SMA
CEO Pierre-Pascal Urbon.
The SMA Managing Board is confirming the sales and earnings forecast for
the current fiscal year, which predicts sales of EUR730 million to EUR770
million. Given that the savings from the transformation measures currently
being implemented will only be recognized in profit or loss from mid-2015
at the earliest, the Managing Board is forecasting negative operating
earnings (EBIT) of EUR-30 million to EUR-60 million for the current year.
Considering likely depreciation and amortization of approximately EUR70
million, the Managing Board expects positive earnings (EBITDA) in 2015. The
SMA Managing Board expects to return to positive operating earnings (EBIT)
in 2016. For the first half year 2015, the SMA Managing Board is expecting
sales of EUR400 million to EUR450 million and operating earnings (EBIT) of
EUR-15 million to EUR-25 million.
You can find the quarterly financial report for January to March 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
21 countries. The Group employs more than 5,000 people worldwide. SMA's
broad product portfolio includes a compatible inverter for every type of
module on the market and for all PV system sizes. The repeatedly awarded
product range includes system technologies for grid-connected photovoltaic
systems as well as off-grid and hybrid systems. The technology is protected
by more than 550 patents. 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]
Investor Relations Contact:
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
[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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13.05.2015 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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