SMA Solar Technology AG / Key word(s): Profit Warning
30.07.2014 10:27
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc notification from SMA Solar Technology AG
Managing Board of SMA Solar Technology AG Lowers Forecast for the Current
Fiscal Year
Niestetal, July 30, 2014-The Managing Board of SMA Solar Technology AG
(SMA/FWB: S92) expects to see a stagnation in the worldwide demand for PV
systems in the current fiscal year. Particularly in the core markets in
Europe demand has collapsed even further than expected. In addition,
cut-throat competition is keeping pricing pressure high in the industry. As
a result, today the Managing Board decided today to adjust its sales and
earnings forecast for 2014. For the current fiscal year, the SMA Managing
Board expects sales of between EUR850 million and EUR950 million
(previously: EUR1.0 billion to EUR1.3 billion). A loss cannot be further
ruled out in the current fiscal year. The Managing Board expects to break
even at best. At the lower end of the sales forecast, the Managing Board is
expecting losses of approximately EUR45 million (previously: operational
profit of EUR20 million in the best-case scenario).
SMA will continue to optimize its product portfolio and take advantage of
the synergies resulting from its strategic alliance with Danfoss in order
to return to sustained profitability. In addition, the company will focus
on strategically important development projects and reduce the development
budget to EUR90 million p.a. by the end of 2015. SMA will step up efforts
to lower production costs for its existing product portfolio and will also
take advantage of the development and purchasing capabilities of its
Chinese subsidiary Zeversolar. SMA will also bring together sales regions
and streamline the organization in Service, Operations and Administration.
The company is planning to lay off approximately 600 employees.
With the planned countermeasures, the SMA Managing Board is convinced that
the necessary conditions have been created in order to generate attractive
margins in the future even in a challenging marketplace. Additionally, the
Managing Board also anticipates a slight increase in our market share for
2014 to more than 15% worldwide.
End of ad hoc notification
About SMA
The SMA Group generated sales of more than EUR930 million in 2013 and is
the global market leader for solar inverters, a key component of all PV
plants. SMA 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 5,000 people
worldwide. 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 includes both inverters for grid-connected photovoltaic plants as
well as off-grid and hybrid system technology. The product portfolio is
supplemented by comprehensive services and operational management of
utility-scale pv-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
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 Rother
Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
IR@SMA.de
Disclaimer:
This ad hoc notification 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 ad hoc notification 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.
30.07.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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: 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 Announcement DGAP News-Service
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DGAP-Adhoc: SMA Solar Technology AG: Managing Board of SMA Lowers Forecast for the Current Fiscal Year
| Source: EQS Group AG