31.05.2016
SMA Solar Technology AG DE000A0DJ6J9
DGAP-News: SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG Discharges Managing Board
DGAP-News: SMA Solar Technology AG / Key word(s): AGM/EGM
SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG
Discharges Managing Board
31.05.2016 / 15:49
The issuer is solely responsible for the content of this announcement.
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SMA Solar Technology AG - Corporate News
Annual General Meeting of SMA Solar Technology AG Discharges Managing Board
and Supervisory Board and Approves Dividend
Niestetal, May 31, 2016 - The shareholders of SMA Solar Technology AG (SMA/
FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the 2015 fiscal year with a clear majority of over 99% at today's
Annual General Meeting 2016 in Kassel. The remaining agenda items also
received the majority approval of the Annual General Meeting. More than 400
shareholders were in attendance and 85% of those with voting rights were
present. The Annual General Meeting followed the suggestion of the Managing
Board and Supervisory Board and approved the payout of a dividend of
EUR0.14 per qualifying bearer share for the 2015 fiscal year.
"2015 was a challenging and eventful year for SMA," explained SMA CEO
Pierre-Pascal Urbon. "However, in a persistently difficult market
environment, we returned to sustainable profitability faster than expected.
Our shareholders will participate in this success by receiving a dividend.
SMA is the only listed solar company in Germany that is paying out a
dividend for the past fiscal year." With sales of around EUR1 billion and
earnings before interest and taxes (EBIT) of EUR34.3 million, SMA
significantly exceeded the Managing Board's original forecast in 2015.
Consolidated net income amounted to EUR14.3 million. With a payout totaling
EUR4.9 million, the payout ratio in relation to consolidated net profit
amounts to 34.3% and is thus within the range of 20% to 40% announced by
the Managing Board. The depository banks will begin dividend payments on
June 1, 2016.
In his speech, Pierre-Pascal Urbon criticized the intended amendment to the
Renewable Energy Sources Act (EEG) by the German Federal Government and the
plans the German Federal Ministry of Finance has for taxing self-
consumption of solar power. He called on the German Federal Ministry of
Finance to remove the bureaucratic constraints on the bidding process for
PV systems on building walls and roofs and to develop a plan to ensure that
the photovoltaic expansion target set by politicians is achieved this year.
"The energy transition in Germany cannot succeed in these constantly
deteriorating conditions. After we have already lost our world-leading role
in photovoltaics, the current political debate poses a risk to compliance
with the climate protection targets agreed upon in Paris and to the
possibility to create new business models," said Urbon.
The SMA Managing Board is adhering to its sales and earnings forecast for
the 2016 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 presentation and the speech 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 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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31.05.2016 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.
Archive at 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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468031 31.05.2016
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