21.05.2015
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to the Managing Board and Supervisory Board with a Clear Majority
DGAP-News: SMA Solar Technology AG / Key word(s): Miscellaneous
SMA Solar Technology AG: Annual General Meeting of SMA Solar
Technology AG Grants Full Discharge to the Managing Board and
Supervisory Board with a Clear Majority
21.05.2015 / 16:52
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SMA Solar Technology AG-Corporate News
Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to
the Managing Board and Supervisory Board with a Clear Majority
Niestetal, May 21, 2015-The shareholders of SMA Solar Technology AG
(SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the fiscal year 2014 with a clear majority of over 99% at today's
2015 Annual General Meeting in Kassel. The remaining items on the agenda
were also passed with a large majority. More than 300 shareholders attended
the 2014 Annual General Meeting of SMA Solar Technology AG, and 83% of
those with voting rights were present.
The Annual General Meeting accepted the proposal of the Managing Board and
Supervisory Board that no dividend be distributed for the fiscal year 2014.
SMA generated sales of EUR805.4 million and earnings before interest and
taxes (EBIT) of EUR-164.9 million in 2014. "The SMA Managing Board and
Supervisory Board reject the option of a dividend payment from the
company's assets. Our shareholders as well as the shareholder
representatives DSW and SdK expressly support this view. This will enable
us to maintain SMA's high net cash and implement the necessary
transformation of the company from our own resources," said SMA Chief
Executive Officer and Chief Financial Officer Pierre-Pascal Urbon.
In the first quarter of 2015, SMA generated considerably better earnings
than in the same period of the previous year. With the sales and order
backlog generated by the end of March 2015, SMA has already achieved more
than 60% of its annual sales target. The positive sales performance
continued in the second quarter. However, in light of the high volatility
of the photovoltaic markets, the SMA Managing Board is keeping to its
forecast for the fiscal year 2015, which predicts sales of EUR730 million
to EUR770 million. Given that the savings from the current transformation
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 SMA
Managing Board expects positive earnings (EBITDA) in 2015. The Managing
Board expects to return to positive operating earnings (EBIT) in 2016. For
the first half of 2015, the Managing Board is anticipating sales of EUR400
million to EUR450 million and operating earnings (EBIT) of EUR-15 million
to EUR-25 million.
The presentation given by the Managing Board at the Annual General Meeting
along with further information can be found on the Internet at
www.sma.de/en/investor-relations/annual-general-meeting.
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 4,500 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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21.05.2015 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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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
End of News DGAP News-Service
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360747 21.05.2015
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