SMA Solar Technology AG / Key word(s): Change in Forecast
01.12.2014 19:59
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 announcement of SMA Solar Technology AG
Managing Board of SMA Solar Technology AG Lowers Sales and Earnings
Forecast for the Current Fiscal Year
Niestetal, December 1, 2014-The Managing Board of SMA Solar Technology AG
(SMA/FWB: S92) has adjusted its sales and earnings forecast for 2014. For
the current fiscal year, the SMA Managing Board expects sales of between
EUR775 million and EUR790 million (previously: EUR850 million to EUR950
million) and a loss of up to EUR115 million excluding provisions for the
planned staff reduction (previously: loss of up to EUR45 million excluding
provisions for the staff reduction). The Managing Board gives the further
accelerated decline in demand in the European distribution business and
project delays in Great Britain as reasons for lowering the forecast for
the current fiscal year. Furthermore, earnings are impacted by additional
one-time items.
According to the Managing Board, low sales levels and one-time items
resulting from the market consolidation are the main reasons for the
deterioration in earnings. The success already achieved in material cost
reduction could not be recognized in earnings as planned because of effects
of volume.
In order to return to profitability, SMA will further intensify the
measures already initiated. For example, the Managing Board is planning to
reduce the development budget to approximately EUR80 million annually by
the middle of 2015. SMA is planning to lay off significantly more than 600
employees worldwide by mid-2015. In addition, the Chinese subsidiary
Zeversolar will be restructured.
End of ad-hoc announcement
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
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
IR@SMA.de
Disclaimer:
This ad-hoc announcement 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 announcement 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.
01.12.2014 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 Solar Technology AG Lowers Sales and Earnings Forecast for the Current Fiscal Year
| Source: EQS Group AG