DGAP-News: SMA Solar Technology AG: SMA Managing Board Expects Sales Between EUR730 Million and EUR770 Million in a Difficult Business Environment in 2015 and Presents Cost Reduction Measures


DGAP-News: SMA Solar Technology AG / Key word(s): Forecast
SMA Solar Technology AG: SMA Managing Board Expects Sales Between
EUR730 Million and EUR770 Million in a Difficult Business Environment
in 2015 and Presents Cost Reduction Measures

30.01.2015 / 08:31

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SMA Solar Technology AG-Corporate News

SMA Managing Board Expects Sales Between EUR730 Million and EUR770 Million
in a Difficult Business Environment in 2015 and Presents Cost Reduction
Measures

Niestetal, January 30, 2015-The Managing Board of SMA Solar Technology AG
(SMA/FWB: S92) is forecasting sales of between EUR730 million to EUR770
million and earnings before interest and taxes (EBIT) of EUR-30 million to
EUR-60 million in the current fiscal year. To return SMA to profitability,
the Managing Board will adjust the company's structures worldwide. At
today's Capital Markets Day, SMA Chief Executive Officer Pierre-Pascal
Urbon is presenting the measures that are intended to lower SMA's
break-even point to less than EUR700 million in the coming months.

SMA's management has developed specific measures for all corporate areas in
order to cut fixed costs by more than EUR160 million. In addition to a
substantial adjustment of the corporate structure in Germany and abroad,
the plan includes, among others, the focus on strategically important
development projects, the reduction of the depth of added value and the
consolidation of the global infrastructure. "We deeply regret that the
transformation is associated with a drastic staff reduction. However, we
have no other choice since sales markets with significance for SMA have
declined by almost 75% within just 48 months because of the change in
general conditions," said SMA Chief Executive Officer Pierre-Pascal Urbon.
By implementing these measures, the SMA Managing Board wants to reduce the
cost base sharply enough that SMA will not have to make any more personnel
adjustments in the future even with a lower
sales level.  

"In the last fiscal year, SMA defended its global market share measured in
euros despite the market slump in continental Europe. We will continue to
offer system technology and services for all photovoltaic applications in
all attractive solar markets as the global market leader. Our latest
product developments prove that we can use technological innovation not
only to significantly reduce the specific inverter costs per watt, but also
to set trends in our industry. Thanks to our good sales and service
presence, especially in Americas and Asia/Pacific, we can benefit from the
positive development in these growth regions. We optimized our supply chain
and production processes such that we will still be able to serve global
demand even if it develops better than we expect," said Pierre-Pascal
Urbon.

For the current fiscal year, the SMA Managing Board expects sales of
between EUR730 million to EUR770 million. The decline in sales compared to
the previous year is especially attributable to a further decline in demand
in Europe and the high price pressure. The SMA Managing Board expects
earnings before interest and taxes of between EUR-30 million to EUR-60
million in 2015. SMA's profitability will primarily be determined by the
speed at which the planned transformation measures are implemented. With
net cash of nearly  EUR230 million at the end of 2014 and a high equity
ratio, SMA remains well financed.

The presentation of today's Capital Markets Day with further information
can be found at
http://www.sma.de/en/investor-relations/publications/presentations.html.

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 coporate 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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30.01.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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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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