DGAP-News: SMA Solar Technology AG: SMA Solar Technology AG Informs Employees About Necessary Corporate Downsizing
(firmenpresse) - DGAP-News: SMA Solar Technology AG / Key word(s): Restructure of
Company
SMA Solar Technology AG: SMA Solar Technology AG Informs Employees
About Necessary Corporate Downsizing
03.07.2013 / 15:45
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SMA Solar Technology AG - Corporate News
SMA Solar Technology AG Informs Employees About Necessary Corporate
Downsizing
Niestetal, July 3, 2013 - The Managing Board of SMA Solar Technology AG
(SMA) today informed the company's employees at an employee meeting about
further planned personnel adjustments. To respond to the changing
conditions in the global photovoltaic market and the associated strong
decline in sales, a gradual downsizing of 700 full-time positions in
Germany is planned by December 31, 2014.
'We are expecting an extended period of consolidation in the solar sector.
For the first time in many years, measured in Euros, the global
photovoltaic market will decline in 2013. As market leader, we will be
especially affected by this. In such a short space of time, we are not able
to offset the sharp decrease in sales - nearly 50% since 2010 -with the
ongoing measures for increasing productivity and saving on material costs
alone. We have therefore been forced to make even more far-reaching changes
than planned to our personnel structure over the coming months,' explains
SMA Chief Executive Officer Pierre-Pascal Urbon.
At the employee meeting, the company announced that in relation to the
cutoff date of March 31, 2013, a total of 700 full-time positions will be
downscaled in Germany by the end of 2014. This corresponds to around
800 employees, as the layoffs will affect both full-time and part-time
employees. By the end of 2014, full-time positions in Germany will be at 3
000.
In recent weeks, the Managing Board has led constructive negotiations with
the Works Council to ensure that any personnel adjustments are handled in
the most socially responsible way. These negotiations are still in
progress. The options of a further voluntary separation scheme or a
transfer of the affected employees to a transitional company are under
discussion. At present, the Managing Board is unable to exclude the
possibility of compulsory terminations for operational reasons if the
stated measures do not result in the required reduction in staff. 'The
planned downsizing is unavoidable if SMA is to emerge strengthened from the
current consolidation phase in the solar sector. When making decisions
about these cutbacks, we have used our best judgement and have kept an eye
on our shared values,' says Pierre-Pascal Urbon.
The planned reduction in staff will affect all SMA divisions and corporate
center in Germany. IT and development specialists will not be affected. SMA
plans to continue investing, particularly in the area of technology
development to strengthen the company's ability to operate in the future
and to systematically extend the global technology leadership. The Managing
Board believes that the long-term prospects in the industry and for the
company are good. 'Our future energy supply will be largely decentralized
and will be based on renewable energies. We will actively help to shape the
transformation in the energy sector through the development of entirely new
product platforms, our excellent service and our global presence,' explains
Pierre-Pascal Urbon.
AboutSMA
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 and fourth place in 2013.
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 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.
End of Corporate News
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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
GermanyPhone: +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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