DGAP-News: SMA Solar Technology AG: Results 2012: SMA Solar Technology AG Performs Well Despite a Difficult Market Environment
(firmenpresse) - DGAP-News: SMA Solar Technology AG / Key word(s): Final Results
SMA Solar Technology AG: Results 2012: SMA Solar Technology AG
Performs Well Despite a Difficult Market Environment
27.03.2013 / 07:00
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SMA Solar Technology AG - Corporate News
Results 2012: SMA Solar Technology AG Performs Well Despite a Difficult
Market Environment
Highlights 2012:
- 7.2 gigawatts of inverter output sold (2011: 7.6 GW)
- Sales at EUR 1.5 billion, near higher end of management guidance (2011:
EUR 1.7 billion)
- Export ratio rose to 56.3% (2011: 53.6%)
- Earnings before interest and taxes (EBIT) of EUR 102 million (2011: EUR
240.3 million)
- Financial independence - net liquidity of EUR 446.3 million (Dec. 31,
2011: EUR 473.3 million)
- Proposed dividend of EUR 0.60 per share
- Managing Board confirms sales and earnings guidance for the fiscal year
2013
Niestetal, March 27, 2013 - SMA Solar Technology AG (SMA/FWB: S92) attained
its sales and earnings forecast in 2012 despite the difficult market
environment. The company achieved sales of EUR 1.5 billion (2011: EUR 1.7
billion) and earnings before interest and taxes (EBIT) of EUR 102 million
(2011: EUR 240.3 million) at the conclusion of the fiscal year. At 7.0%,
the EBIT margin was significantly below the previous year's figure (2011:
14.3%). The Managing Board will recommend that the Supervisory Board
propose a dividend payout of EUR 0.60 per share at the annual general
meeting on May 23, 2013. With this move, SMA will be one of the few
companies in the solar sector offering a dividend.
According to estimates of the SMA Managing Board, new PV systems with a
total power capacity of approximately 31 gigawatts were newly installed
last year (2011: approximately 29 GW). 2012 was characterized by
overcapacity on the photovoltaic market, tougher competition, and
increasing price pressure. Due to massive changes to subsidies in Europe
and purchases being brought forward as a result, the first nine months of
2012 were positive for SMA. The cuts in subsidies implemented in the fourth
quarter and the growing uncertainty, particularly on the German
photovoltaic market, had a noticeable negative effect on demand for PV
inverters. SMA sold inverters with a total output of 7.2 gigawatts in the
reporting period (2011: 7.6 GW). Due to the downward trend in Europe, the
non-European markets increased in importance. There were significant growth
impulses coming from North America, Japan, and Thailand in particular,
which led to a export ratio of 56.3% (2011: 53.6%). In the reporting
period, SMA continued to propel its internationalization rigorously and
founded foreign companies in South Africa and Chile. The company is now
represented in 21 countries and can thus reduce its dependence on
individual markets.
Consolidated net profit was EUR 75.1 million in the reporting period (2011:
EUR 166.1 million). In 2012, SMA achieved a positive free cash flow in a
difficult market environment before paying the dividend. This feat
underscores the company's ability to generate cash with its business model,
even in a challenging competitive situation. The gross cash flow amounted
to EUR 165.8 million in the reporting period (2011: EUR 240.7 million).
With an equity ratio of 61.8% (Dec. 31, 2011: 57.4%)and net liquidity of
EUR 446.3 million (Dec. 31, 2011: EUR 473.3 million), SMA continues to have
a very solid balance-sheet structure and can finance its further
development from its own resources.
'2013 will be a tough year for the solar sector. The photovoltaic market is
currently undergoing major changes. However, we focused our corporate
strategy on the future requirements of the energy sector at an early stage.
Due to our development of innovative system technology and energy
management solutions, company-wide efforts to reduce costs and consistent
internationalization, we believe that SMA is well positioned to take the
opportunities arising in the international photovoltaic markets. One thing
is certain: The global transformation in the energy sector from central
power plants to decentralized energy production is only possible with
innovative system technology. We are focusing strategically on this
worldwide growth market,' explains SMA Chief Executive Officer
Pierre-Pascal Urbon.
The SMA Managing Board confirms the sales and earnings guidance for SMA
including Zeversolar for 2013. It predicts sales of EUR 0.9 billion to EUR
1.3 billion and a break-even result in the best scenario. Nevertheless, the
Managing Board cannot exclude the possibility of a loss.
The annual report for 2012 is available online at
www.SMA.de/IR/FinancialReports.
About SMA
The SMA Group generated sales of EUR1.5 billion in 2012 and is the global
market leader for solar inverters, a key component of all PV plants and,
as an energy management group, offers innovative key technologies for
future power supply structures. It is headquartered in Niestetal, near
Kassel, Germany, and is represented internationally 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 photovoltaic plants connected to the grid as well as
inverters for off-grid systems. SMA is therefore able to provide ideal
technical inverter solutions 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 achieved first place in the nationwide 'Great Place to
Work(R)' competition in 2011 and 2012.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805
Presse(at)SMA.de
Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400
Presse(at)SMA.de
Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
IR(at)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.
End of Corporate News
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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