DGAP-News: SMA Solar Technology AG: SMA Solar achieves second best result in company history in 2011
(firmenpresse) - DGAP-News: SMA Solar Technology AG / Key word(s): Final Results
SMA Solar Technology AG: SMA Solar achieves second best result in
company history in 2011
29.03.2012 / 07:00
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SMA Solar Technology AG Press Release
SMA Solar Technology AG achieves second best result in company history in
2011
Highlights 2011:
- EUR1.7 billion in sales thanks to strong international growth and
project business (2010: EUR1.9bn)
- With EUR240 million in operating profit (EBIT), the company had its
second best year ever(2010: EUR516m)
- Foreign share of sales increased significantly to 53.6 percent (2010:
44.9%)
- Proposed dividend of EUR1.30 per share
- 2012 sales and earnings forecast confirmed
Niestetal, Germany, March 29, 2012 - In 2011 SMA Solar Technology AG
(SMA/FWB: S92) maintained its strong position in a very competitive market
and recorded the second biggest annual profit in the company's history.
Thanks to strong international growth and project business, sales amounted
to EUR1.7 billion with an operating profit (EBIT) of
EUR240.3 million. In 2010, a record-breaking year, the company generated
EUR1.9 billion in sales with an operating profit of EUR516.8 million. In
light of this positive trend, the Managing Board and Supervisory Board will
propose a dividend payout of EUR1.30 per share at the Annual General
Meeting on May 22, 2012 (2010: EUR3.00 per share). The payout ratio of 33.8
percent is the highest since the company's initial public offering in 2008.
SMA pays one of the highest dividends amongst the solar companies listed on
the TecDAX.
Despite growing public support for photovoltaics, the rapid growth in
demand over the previous years was not evident in 2011. The amount of newly
installed global capacity is around 23 gigawatts, which is approximately
the same as in 2010. While demand in Germany has remained stable, the
foreign markets have seen an uneven growth. There is strong growth momentum
coming from regions such as Southern Europe, North America and India. The
regional shift in demand is also changing installation sizes. As a result,
large-scale solar projects have largely compensated for the downturn in new
PV rooftop system installations. SMA was able to take advantage of this
development thanks to its strong position in foreign markets and its wide
range of products for all photovoltaic markets and application areas. The
foreign share of total sales increased to 53.6 percent in 2011 (2010:
44.9%). Sales from the project business with Sunny Central inverters grew
to EUR496.4 million, an increase of almost 50 percent. Globally, the
company sold inverters with a total combined capacity of 7.6 gigawatts last
year (2010: 7.8 GW). According to SMA's own estimates, this represents a
market share of around 33 percent. Thus, SMA remains the global market
leader in PV inverters by a wide margin.
'The market position of SMA is unique. No other company can offer so much
experience and expertise in PV inverters and energy management. Our product
portfolio comprises inverters for all applications, power classes, and
module types. SMA has also developed intelligent energy management and
monitoring systems,' explains Pierre-Pascal Urbon, Chief Executive Officer
and Chief Financial Officer of SMA Solar Technology AG. 'Our
forward-looking product innovations have played a major role in lowering
the cost of solar power production and integrating solar power into the
distribution grid without expensive upgrades. SMA is the first company in
the solar sector that can offer product solutions for almost any
requirement of importance to the energy transition. This means we are in an
excellent position to take advantage of the great opportunities of the
energy transition and to return to sales growth from 2013 on.'
In 2012 the company will again invest more than EUR100 million into
research and development to promote technological innovations that lower
system costs and facilitate PV grid integration. SMA can continue this
investment strategy thanks to its healthy financial situation with an
equity ratio of 57 percent (2010: 58%) and almost half a billion euros in
liquid assets.
The Managing Board of SMA Solar Technology AG is expecting only moderate
growth in the global PV market in 2012, although a slight decline in the
market remains a possibility. The Managing Board confirms the annual sales
forecast published in early March and predicts EUR1.2 billion to EUR1.5
billion in sales and an EBIT margin of between 5 percent and 10 percent in
2012. 'We are currently seeing strong demand for PV rooftop systems. We
believe that this demand is mainly a response to the great uncertainty that
prevails due to the massive proposed cuts to solar power subsidies in
Germany. In contrast, our project business in Germany has experienced a
sharp drop in demand since 10 megawatt or higher PV plants will no longer
receive subsidies and the planning phase for such plants is significantly
longer,' says Pierre-Pascal Urbon. 'Given the current level of uncertainty
in the German market and massive changes in other European markets,
estimating how demand will develop over the rest of the year is almost
impossible. However, our forecast for the whole year remains.'
SMA will continue its internationalization strategy outside of Europe and
establish foreign companies in Chile and South Africa. The direct export
rate is expected to increase to 80 percent in 2012.
The 2011 annual report, the financial statements of the SMA Group and video
statements of the CEO are available at www.SMA.de/FinancialReports.
About SMA
The SMA Group generated sales of EUR1.7 billion in 2011 and is the global
market leader for solar inverters, a key component of all PV plants. It is
headquartered in Niestetal, near Kassel, Germany, and is represented in 19
countries on four continents. The Group employs more than 5 500 people
worldwide, plus a number of temporary employees that varies on a seasonal
basis. 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 PV plants connected to the grid as well
as inverters for off-grid systems. SMA can therefore provide an ideal
inverter solution for all plant sizes and types. 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. In recent years, SMA has received numerous awards for excellence as
an employer and in 2011 and 2012 achieved first place in the nationwide
Great Place to Work(R) competition.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communication:
Anja Jasper
Tel. +49 561 9522-2805
Presse(at)SMA.de
Press contact:
Susanne Henkel
Press Officer
Tel. +49 561 9522-1124
Fax +49 561 9522-531400
Presse(at)SMA.de
Investor Relations contact:
Stephanie Kniep
Director of Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
IR(at)SMA.de
Julia Damm
Manager, Investor Relations
Tel. +49 561 9522-1164
Disclaimer:
This press release 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 press release 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
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, 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.
End of Corporate News
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29.03.2012 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(at)sma.de
Internet: http://www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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