DGAP-Adhoc: SMA Solar Technology AG: SMA posts significant surges in sales and earnings in first half-year

SMA Solar Technology AG / Half Year Results

14.08.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Sales up 157% to EUR 292.6 million 
- EBIT more than quadrupled to EUR 68.7 million
- Net profit for the period already exceeds earnings for 2007 as a whole 
- Positive outlook for year as a whole: sales revenue growth from 80% to
  100% as against 2007 with an EBIT margin of around 23% 

In the first half of 2008, SMA Solar Technology AG (FWB: S92) recorded
highly positive business performance and generated a significant surge in
sales and earnings compared to the previous year. On account of the strong
demand for SMA photovoltaic inverters in Germany and abroad, sales rose by
157% in the first six months to EUR 292.6 million (previous year: EUR 113.7
million). The second quarter made a key contribution towards this growth
with sales of EUR 177.4 million. The international markets continued to
gain in significance for SMA during the first half of the year with a
strong rise in sales of around 350% to EUR 142.4 million (previous year:
EUR 31.2 million). The international share of total income rose
considerably in the first half of the year to 47% (previous year: 27%).

SMA improved its earnings before interest and taxes (EBIT) in the reporting
period to EUR 68.7 million (previous year: EUR 14.2 million) – four times
the figure for the first half of 2007. The EBIT margin rose to 23.5%
(previous year: 12.5%). The Company generated around two-thirds of this
EBIT in the second quarter (EUR 44.4 million). The SMA Group's net profit
for the period rose to EUR 48.2 million in the first six months – a level
already higher than the profit for the whole of 2007 (EUR 36.8 million).
With 34.7 million shares outstanding as at the closing date June 30, 2008,
SMA generated earnings per share in the reporting period of EUR 1.39.
The extremely positive business performance led to a strong rise in cash
flow from operating activities to EUR 71.9 million (previous year: EUR 0
million). Cash flow from investing activities was dominated by investments
of EUR 30.6 million in property, plant and equipment. Investments focused
on the construction of new production facilities for photovoltaic inverters
in Kassel, which are scheduled to commence operations at the start of 2009.
The Company did not receive the net issue proceeds of EUR 121.1 million
from the successful IPO until after June 30, 2008 and will therefore report
these funds as cash flow from financing activities in the third quarter.

SMA Solar Technology AG is optimistic for fiscal 2008 as a whole and is
also forecasting further strong demand for photovoltaic inverters. SMA is
anticipating sales for the whole year of between EUR 580 million and EUR
640 million, a rise of around 80% or 100% from the previous year. The EBIT
margin is expected to be on par with the half-year level.

About SMA Solar Technology AG:
With sales of EUR 327 million, SMA is the world market leader for
photovoltaic inverters, a central component in any solar power system.
SMA's head office is located in Niestetal near Kassel. It is represented by
international subsidiaries on four continents in eight countries. The Group
employs more than 2,500 people (including temporary workers). SMA produces
a broad range of types of inverters, offering the right type of inverter
for every type of photovoltaic module in use and every rating of
photovoltaic systems. The product range includes both inverters for
grid-connected photovoltaic systems and isolated systems. SMA has been
listed in the Prime Standard of the Frankfurt stock exchange since June 27,
2008 (S92).

Press contact:
SMA Solar Technology AG

Volker Wasgindt
Head of Press and Association Work
Sonnenallee 1
34266 Niestetal
Germany
Tel. +49 561 9522-11 21
Fax.+49 561 9522-11 03
Volker.Wasgindt@SMA.de

Investor Relations:
Hotline: +49 561 9522-22 22
Fax.+49 561 9522-11 03
ir@sma.de

Claudine Schaetzle
Tel. +49 69 920 37 -185
DGAP 14.08.2008 
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Language:     English
Issuer:       SMA Solar Technology AG
              Sonnenallee 1
              34266 Niestetal
              Deutschland
Phone:        +49 (0)561 / 9522 - 0
Fax:          +49 (0)561 / 9522 - 100
E-mail:       info@sma.de
Internet:     http://www.sma.de
ISIN:         DE000A0DJ6J9
WKN:          A0DJ6J 
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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