DGAP-News: SMA Solar Technology AG: SMA Achieves a Break-Even Result Before One-Time Items and Consolidation of Zeversolar from January to September 2013
(firmenpresse) - DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA Achieves a Break-Even Result Before
One-Time Items and Consolidation of Zeversolar from January to
September 2013
07.11.2013 / 07:01
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SMA Solar Technology AG - Corporate News
SMA Solar Technology AG Achieves a Break-Even Result Before One-Time Items
and Consolidation of Zeversolar from January to September 2013
Overview January to September 2013:
- 4.0 gigawatts of inverter output sold (Q1-Q3 2012: 5.9 GW)
- EUR709.3 million in sales (Q1-Q3 2012: EUR1.2 billion)
- International share rose to 69.3% (Q1-Q3 2012: 53.4%)
- Positive earnings before interest, taxes, depreciation and amortization
(EBITDA) of EUR26.9 million
(Q1-Q3 2012: EUR164.4 million) affected by
one-time items from personnel adjustments of EUR20 million
- Net cash of EUR300.3 million (Dec. 31, 2012: EUR446.3 million) and
equity ratio of 57.7% (Dec. 31, 2012: 61.8%)
- SMA Managing Board confirms sales and earnings guidance for fiscal
years 2013 and 2014 amended on November 4, 2013
Niestetal, Nov. 7, 2013 - From January to September 2013, SMA Solar
Technology AG (SMA/FWB: S92) sold PV inverters with an output of 4.0
gigawatts (Q1-Q3 2012: 5.9 GW) and generated sales of EUR709.3 million
(Q1-Q3 2012: EUR1.2 billion) in a declining market. The company was able to
benefit from its strong international position. The international share of
total sales rose to 69.3% (Q1-Q3 2012: 53.4%). The most important foreign
markets for SMA included North America, Japan, Australia, Thailand and
Great Britain. Demand in Europe declined substantially in particular due to
significant changes to subsidy conditions in Germany and Italy.
Additionally, the trade dispute between the EU and China, which was settled
only in July, regarding the introduction of punitive duties on Chinese PV
modules created uncertainty.
Despite the sharp decline in sales, SMA achieved positive earnings before
interest, taxes, depreciation and amortization (EBITDA) of EUR26.9 million
in the first nine months of 2013 (Q1-Q2 2012: EUR164.4 million). Due to
negative sales development, high price pressure, the changed product mix
and Zeversolar's business performance, in the reporting period earnings
before interest and taxes (EBIT) sank to EUR-30.1 million (Q1-Q3 2012:
EUR116 million), representing an EBIT margin of -4.2% (Q1-Q3: 2012: 9.7%).
EBIT includes expenses for personnel adjustments of EUR20 million. Not
including one-time items and the negative earnings contribution from
Zeversolar, SMA achieved a break-even operating result despite a 40% drop
in sales in the reporting period. The Group earnings from January to
September 2013 amounted to EUR-22.0 million (Q1-Q2 2012: EUR81.0 million).
With net cash of EUR300.3 million (Dec. 31, 2012: EUR446.3 million) and an
equity ratio of 57.7% (Dec. 31, 2012: 61.8%), SMA continues to have a solid
financial position and can finance further development from its own
resources.
'SMA has adjusted the structures to best meet the changes that have
occurred in the global solar market, and, as a specialist in PV system
technology has strategically aligned itself to fulfill the requirements of
the global energy transition. In 2014, we willlaunch the Sunny Boy Smart
Energy, an inverter with an integrated battery, and first products from our
completely newly developed product platforms. Next year, we will also
continue our steadfast commitment in the area of development in order to
advance our global market leadership and return to profitability,' explains
SMA Chief Executive Officer Pierre-Pascal Urbon.
The SMA Managing Board confirms the sales and earnings forecast for fiscal
year 2013 amended on
November 4, 2013. The forecast predicts sales of EUR0.9 billion to EUR1.0
billion for the SMA Group. In addition, the Managing Board expects a loss
of EUR80 million to EUR90 million. In 2014, the SMA Managing Board
forecasts an increase in sales to between EUR1.0 and EUR1.3 billion and a
positive operating result.
You can find the quarterly financial report for January to September 2013
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 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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07.11.2013 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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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even-result-before-one
time-items-and-consolidation-of-zeversolar-from-january-to-september-2013
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Datum: 07.11.2013 - 07:01 Uhr
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