DGAP-Adhoc: SMA Solar Technology AG: Managing Board of SMA Anticipates Difficult Fiscal Year 2015 and Plans Global Staff Reductions


SMA Solar Technology AG  / Key word(s): Miscellaneous

26.01.2015 21:15

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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 Anticipates Difficult Fiscal Year
2015 and Plans Global Staff Reductions

Niestetal, January 26, 2015-The Managing Board of SMA Solar Technology AG
(SMA/FWB: S92) is anticipating a difficult fiscal year 2015 and a decline
in sales. Against this background, the Managing Board plans to cut
approximately 1,600 full-time positions in all functional areas worldwide
by June 30, 2015 based on the total of 4,667 full-time positions (without
temporary employees) as of December 31, 2014. Approximately 1,300 full-time
positions in Germany and approximately 300 full-time positions at SMA's
international locations are affected. The cutback targets of over 600
full-time positions that were announced last year are included in these
figures.

The Managing Board expects to see a great deal of price pressure on the
global photovoltaic market still in the coming years and a further decline
in demand in Europe, particularly in Germany. By contrast, the non-European
markets will develop positively. This means, that although the market
measured in gigawatts will continue to grow in the medium term, the company
expects to see a global decline when measured in euros. To return to
profitability in this environment, SMA will adjust its structures to the
lower sales level. The Managing Board and the Works Council will discuss
the necessary measures and layoffs in the coming weeks. However, the
effects of these measures will not emerge until the second half of the year
at the earliest, meaning that SMA will probably not yet return to
profitability in the current fiscal year With net cash of approximately
EUR220 million, SMA will be able to finance the transformation and the
strategy with its own resources.

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 PV inverters, a key component of all PV
plants, and 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 PV system sizes. The product
range includes system technologies for grid-connected photovoltaic systems
as well as off-grid and hybrid systems. The service portfolio is
supplemented by comprehensive services and operational management of
large-scale PV power 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
Phone: +49 561 9522-2805
Presse@SMA.de

Press contact:
Susanne Henkel
Manager Corporate Press
Phone: +49 561 9522-1124
Fax: +49 561 9522-421400
Presse@SMA.de

Contact for Investor Relations:
Julia Rother
Manager Investor Relations
Phone: +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.

This ad hoc notification 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 that the Executive 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, financial position,
development or Company performance and the estimates given here. These
factors include those that 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 in accordance with the actual outcomes or developments of
previously made future-oriented statements.


26.01.2015 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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