DGAP-News: SMA Solar Technology AG / Key word(s): Forecast
SMA Solar Technology AG: Managing Board of SMA Lowers the Forecast for
Fiscal Year 2013 and Gives Positive Outlook for 2014
04.11.2013 / 14:21
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SMA Solar Technology AG - Corporate News
Managing Board of SMA Solar Technology AG Lowers the Forecast for Fiscal
Year 2013 and Gives Positive Outlook for 2014
Niestetal, November 4, 2013 - The Managing Board of SMA Solar Technology AG
(SMA/FWB: S92) lowers the sales and earnings forecast for the fiscal year
2013. The amended forecast predicts sales of EUR0.9 billion to EUR1.0
billion for the SMA Group. In addition, the Managing Board expects a loss
of EUR80 million to EUR90 million. Previously, the SMA Managing Board
expected sales of EUR0.9 billion to EUR1.3 billion and in the best case
scenario to break even before one-time items in 2013. The reasons for
amending the forecast are the decline in the European markets, which was
stronger than expected, and the resulting negative sales and earnings of
the Medium Power Solutions division as well as the ongoing restructuring of
Zeversolar.
'As the world market leader, SMA is particularly affected by the changed
conditions on the global photovoltaic market. The market is characterized
by high price pressure worldwide. Furthermore, we have a strongly declining
demand in our core markets in Europe, that cannot be compensated by the new
Asian and American markets. As a result, we adjusted the structures to the
changed market conditions and devaluated assets. In addition, there are the
start-up losses of Zeversolar. In total, SMA will close the fiscal year
2013 with a loss of EUR80 million to EUR90 million,' explains SMA CEO
Pierre-Pascal Urbon. 'With more than EUR300 million Net Cash SMA continues
to have a very solid balance-sheet structure and can finance its further
development from its own resources.'
'With our existing strategy and the measures already introduced, we have
taken the necessary steps to be able to return to profitability and sales
growth in 2014. Especially the cost reduction and personnel adjustment
measures already started will be fully effective for the first time in
2014. With launching the Sunny Tripower in the U.S. and Japan, we will also
profit from the strong growth expected in these regions. In addition, we
will launch first products from our completely newly developed product
platforms. SMA offers highly innovative solutions exactly tailored to the
requirements of our future energy supply, which allow us to set ourselves
apart from competitors particularly in this attractive growth segment,'
says Urbon.
In 2014, the SMA Managing Board therefore expects the group's sales to
increase to between EUR1.0 and EUR1.3 billion and to reach its
profitability again.
Background information on the market and forecast for 2013 and 2014 is
available at
http://www.sma.de/en/investor-relations/publications/presentations.html. In
addition, the SMA Managing Board will inform the capital market within the
scope of an analyst call on Thursday, Nov. 7, 2013.
About SMA
The SMA Group generated sales of EUR1.5 billion in 2012 and is the global
market leader for solar inverters, a key component of all PV plants and,
as an energy management group, offers innovative key technologies for
future power supply structures. It is headquartered in Niestetal, near
Kassel, Germany, and is represented internationally 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 system sizes. The product range includes
both inverters for PV systems connected to the grid and inverters for
off-grid systems. SMA is therefore able to provide ideal technical inverter
solutions for all system 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
achieved first place in the nationwide 'Great Place to Work(R)' competition
in 2011 and 2012 and fourth place in 2013.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805
Presse@SMA.de
Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax: +49 561 9522-421400
Presse@SMA.de
Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel.: +49 561 9522-2222
Fax +49 561 9522-2223
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 may 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 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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237647 04.11.2013
DGAP-News: SMA Solar Technology AG: Managing Board of SMA Lowers the Forecast for Fiscal Year 2013 and Gives Positive Outlook for 2014
| Source: EQS Group AG