DGAP-News: SMA Solar Technology AG / Key word(s): Preliminary Results
SMA Solar Technology AG: Preliminary calculations show that SMA
achieved sales and earnings targets for the 2011 fiscal year in an
intensely competitive market environment
13.01.2012 / 09:51
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SMA Solar Technology AG - Corporate News
Preliminary calculations show that SMA Solar Technology AG achieved sales
and earnings targets for the 2011 fiscal year in an intensely competitive
market environment
Niestetal, January 12, 2012 - Preliminary estimates from the Managing Board
of SMA Solar Technology AG (SMA/FWB: S92) show sales of about EUR1.7
billion in 2011 and earnings before interest and taxes (EBIT) of more than
EUR240 million. With this, SMA fully achieved both of its forecast targets
as well as the second-best earnings in the company history. The successful
development was based on the company's global presence and a broad product
portfolio that allows SMA to fulfill a wide range of customer requirements.
According to SMA Managing Board estimates, the company maintained its
global market share at last year's level - 35 percent - in a highly
competitive environment.
The SMA Managing Board estimates that photovoltaic plants with a presumed
capacity of approx. 23 gigawatts were installed worldwide in 2011. 'With
this, the size of the global market remained nearly unchanged in comparison
to 2010. At the same time, demand shifted regionally. Declines in some
important photovoltaic markets were compensated by growth in new markets,'
explained Pierre-Pascal Urbon, Spokesman of the Managing Board and Chief
Financial Officer of SMA Solar Technology AG. 'The product mix changed
accordingly, and there was increasing demand for larger inverters. Thanks
to our broad product range - from Sunny Boy inverters for private
photovoltaic plants to Sunny Central inverters for large-scale PV projects
- and to our strong international position, we were able to serve the
changed demand well.'
In the world's largest photovoltaic market, Germany, SMA successfully
maintained its position as market leader and even expanded it slightly. PV
plants with a capacity of three gigawatts were constructed here during
December 2011 alone. There are many different reasons for the strong growth
in new installations. One significant factor is the 15 percent reduction in
the feed-in tariff as of January 1, 2012. Added to this was an increased
sell-off at year's end among wholesalers in order to minimize the risk of
depreciation of their inventories. The advantageous interest rate level,
low system prices and unusually mild weather also promoted the additional
installation. 'We also assume that many photovoltaic plants were only
commissioned commercially; the installed plants were therefore registered
with the Federal Network Agency without inverters. We already see this
reflected in our current business development,' Urbon said.
According to preliminary estimates by the Managing Board, SMA's sales in
the fiscal year 2011 amounted to around EUR1.7 billion. Export sales are
anticipated to have increased by approx. 55 % (2010: 45 %). Project
business made up about 25 % of the Group's sales, according to initial
estimates (2010: 18 %). SMA will continue its successful
internationalization strategy in 2012 and will establish foreign companies
in South America and Africa.
The Managing Board of SMA anticipates slight growth in global demand for
photovoltaic plants during the current fiscal year, but cannot exclude the
possibility of a slight decline. 'We see positive growth in 2012 in the
United States, Japan and India. A reliable forecast for the global market
is not currently possible, however, due to numerous changes in important
markets and uncertainty caused by the current euro and financial crisis,'
Urbon emphasized. 'We can therefore provide no sales and earnings forecast
at this point for the current fiscal year.'
The SMA Managing Board is confident that thanks to the company's high
flexibility, continuous investment in research and development, innovative
product portfolio and strong international position, SMA is well positioned
to react quickly to all market developments and to profit from the
outstanding long-term potential for growth in the promising field of
photovoltaics technology.
The SMA Managing Board will present the complete consolidated financial
statement for the 2011 fiscal year at its press conference on the annual
results on March 29, 2011 in Frankfurt/Main. The 2011 annual report will be
available at www.SMA.de in the Investor Relations section.
About SMA
The SMA Group generated sales of EUR1.9 billion in 2010 and is the global
market leader for solar inverters, a key component of all PV plants. It is
headquartered in Niestetal, near Kassel, Germany, and is represented in 19
countries on four continents. The Group employs more than 5,300 people
worldwide, including temporary seasonal employees. SMA's broad product
portfolio includes a compatible inverter for every type of module on the
market and for all plant sizes. The product range covers both inverters
for photovoltaic plants connected to the grid as well as inverters for
off-grid systems. Therefore, SMA is able to provide ideal technical
inverter solutions for all plant sizes and types. 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. In recent years, SMA has received numerous awards for excellence as
an employer and most recently achieved first place in the nationwide 'Great
Place to Work' competition.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communication:
Anja Jasper
Tel. +49 561 9522-28 05
Press@SMA.de
Press contact:
Susanne Henkel
Press Officer
Tel. +49 561 9522-11 24
Fax +49 561 9522-531 400
Press@SMA.de
Investor Relations contact:
Stephanie Kniep
Director of Investor Relations
Tel. +49 561 9522-22 22
Fax +49 561 9522-22 23
ir@SMA.de
Julia Damm
Manager, Investor Relations
Tel. +49 561 9522-11 64
Fax +49 561 9522-22 23
ir@SMA.de
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.
End of Corporate News
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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: 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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152645 13.01.2012
DGAP-News: SMA Solar Technology AG: Preliminary calculations show that SMA achieved sales and earnings targets for the 2011 fiscal year in an intensely competitive market environment
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