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


DGAP-News: SMA Solar Technology AG / Key word(s): Miscellaneous
SMA Solar Technology AG: Managing Board of SMA Anticipates Difficult
Fiscal Year 2015 and Plans Global Staff Reductions

26.01.2015 / 21:19

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SMA Solar Technology AG - Corporate News

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. For 2014, the Managing Board is confirming the upper end of the
sales forecast of EUR790 million and a loss of up to EUR115 million
(excluding provisions for the planned staff reductions). Due to the lower
level of sales, the SMA Managing Board is planning to cut approximately
1,600 full-time positions in all functional areas by June 30, 2015.

"We expect to see high 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, we expect to see a global decline when
measured in euros. To return to profitability in this environment, we want
to make adjustments to SMA's structures in line with the lower sales level.
This is the only way that we can break even with reduced sales. In this
context, global staff reductions are unfortunately unavoidable. We have
already defined extensive measures that we will discuss with the Works
Council over the next weeks," said SMA Chief Executive Officer
Pierre-Pascal Urbon. "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 implementation of the strategy with its own
resources, Urbon continued.

In relation to the 4,667 full-time positions (excluding temporary
employees) as of December 31, 2014, the SMA Managing Board is planning to
cut approximately 1,600 full-time positions worldwide by June 30, 2015.
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 SMA Managing Board strives to
achieve a socially responsible staff reduction. However, compulsory layoffs
cannot be ruled out at the current date.

The Managing Board will provide details on the transformation concept for
SMA and the outlook for the fiscal year 2015 at the 7th Capital Markets Day
in Kassel this Friday, January 30, 2015, and will inform employees and the
general public.

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 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.



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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  
 
 
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