DGAP-News: SMA Solar Technology AG: SMA surpasses last year's record results
(firmenpresse) - DGAP-News: SMA Solar Technology AG / Key word(s): Final Results
SMA Solar Technology AG: SMA surpasses last year's record results
30.03.2011 / 07:03
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* Sales doubled and rose to 1.9 billion euros
* Record EBIT margin of 26.9 %
* High cash flow through low capital intensity
* Record dividend of 3.00 euros per share leading the field of solar
stock in the TecDAX
* 1,500 new jobs created
* Unchanged sales and earnings forecast
Niestetal, March 30, 2011 - SMA Solar Technology AG (SMA) successfully
continued its growth path in the fiscal year 2010. Group sales doubled and
rose to 1.9 billion euros (PY: 0.9 billion euros). SMA's consolidated
earnings before interest and taxes (EBIT) of 516 million euros
(PY: 228 million euros) also set a new earnings record corresponding to an
EBIT margin of 26.9 % (PY: 24.4 %). The consolidated profit of 365 million
euros also doubled on a year-on-year basis (PY: 161 million euros). The
Managing Board and the Supervisory Board of SMA are proposing to the Annual
General Meeting on May 26, 2011 that an increased dividend of
3.00 euros per share be distributed for the fiscal year 2010. The proposed
dividend underlines the high earnings power of SMA and is significantly
higher than the proposed dividend of comparative companies listed on the
stock exchange in Germany.
In 2010, with an estimated 17 to 20 gigawatt (GW) worldwide the growth in
newly installed photovoltaics (PV) power output was faster than expected.
Thanks to its positioning, SMA was able to benefit from this evolution
given the fact that the company is the only manufacturer worldwide to offer
a product portfolio of inverters for all applications, all power classes
and all types of solar modules. The amount of inverter output sold, which
stood at 7.4 GW (PY: 3.4 GW), means that the company's market share was
between 39 % and 45 % in line with the previous year's figure (2009:
approx.
40 %).
Internationalization is gaining increasing importance for SMA. In 2010,
almost 45 % of sales were generated outside of Germany (PY: 38.4 %). SMA
predicts continuing strong growth, above all abroad, and accordingly, it
expanded its production sites last year in Denver (USA) and Toronto
(Canada). Just as in Germany, SMA is able to adjust capacities to demand in
these markets within a short space of time with an extreme degree of
flexibility. In addition, sales and service companies were set up in India
and England.
The annual production capacity of the SMA Group in the fiscal year 2010
therefore doubled to a total of 11 GW (PY: 5 GW). There are plans to set up
further sales and service companies in the fast-growing solar markets of
Japan and Thailand in 2011.
'The international photovoltaic markets will acquire ever increasing
importance. SMA, as a technology and global market leader with 17 foreign
subsidiaries situated on four continents, is exceptionally well-prepared
for the further internationalization of business,' explains Günther Cramer,
Chief Executive Officer of SMA Solar Technology AG. 'Our extreme
flexibility and the consistent expansion of our production capacities mean
that we are perfectly prepared for weathering the high volatility of the
solar markets. In markets where we see potential for sustained growth, we
will establish further production sites in order to enable us to utilize
opportunities quickly and in a targeted fashion.'
As technology leader, SMA has consistently invested in research and
development over several years. SMA invested a total of 83 million euros in
research and development in 2010 including 600 engineers. The product
innovations introduced onto the market in 2010 will not only allow the
system costs of large-scale solar projects to be reduced but will also help
cope with the increasing challenges of grid integration. SMA's product
developments received several awards in 2010. 'We will continue to expand
our technological edge and set new trends in the solar industry in 2011
with the aid of further innovations. Accordingly, we increased the budget
for research and development this year to 100 million euros,' explains
Günther Cramer. In addition, further investments are planned for the
current fiscal year, in particular investments in buildings and machinery,
amounting to between 150 and 200 million euros.
The comfortable equity situation with an equity ratio of 58 % (PY: 56 %)
and liquid funds of half a billion euros will allow SMA to implement its
ambitious growth and investment plans. At the same time, the company is
ideally prepared for short-term fluctuations in demand.
SMA is also a highly attractive employer. Over 1,500 new jobs were created
in the 2010 fiscal year. In February 2011, SMA was distinguished as the
best employer in Germany in the federal 'Great Place to Work' competition
in recognition of its unique corporate culture.
SMA is convinced that the development of the photovoltaic markets is only
at an initial stage. The turn to renewable energies enjoys broad social
support worldwide. Therefore, the Managing Board of SMA estimates that
demand for solar power systems will significantly increase in the medium
term. However, due to changes in support programs in important European
solar markets, SMA predicts a temporary stagnation in the market in 2011. A
slight downturn in growth cannot be ruled out. The Managing Board confirms
the forecast and stands by its sales figure of between 1.5 and 1.9 billion
euros with a slightly lower EBIT margin of between 21 % and
25 %.
SMA will pursue its successful strategy and continue the consistent
expansion of its internationalization. In the future, important growth
impulses will come from foreign markets. In 2011, SMA will introduce
product innovations in line with its role as a technology leader that will
make a significant contribution to reducing the investment, operating and
maintenance costs of solar power systems.
The annual report 2010 for the SMA Group and the individual financial
statements for the AG are available on the corporate website at
www.SMA.de/IR/FinancialReports.
About SMA
The SMA Group, with sales of 1.9 billion euros in 2010, is the world market
leader for solar inverters, a component that lies at the heart of every
solar power system. Its headquarters is situated in Niestetal near Kassel
and it also has 17 foreign subsidiaries situated on four continents. In
2010, the Corporate Group employed over 5,000 persons (including temporary
staff). SMA produces a wide spectrum of inverter types, the optimal
inverter for each type of solar module used and offers all the power
classes required for solar power systems. The product portfolio includes
both inverters for grid-connected solar power systems and stand-alone
systems. Since 2008, the parent company SMA Solar Technology AG has been
listed in the Prime Standard of the Frankfurt Securities Exchange (S92) and
in the TecDAX. Over the past few years, SMA has received several awards for
its outstanding performance as an employer and lately reached first place
in the federal 'Great Place to Work' competition.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Press contact:
Wolfram Eberhardt
Vice President Corporate Communications
Tel. +49 561 9522-11 25
Fax.+49 561 9522-11 03
Wolfram.Eberhardt(at)SMA.de
Investor Relations:
Stephanie Kniep
Director Investor Relations
Phone +49 561 9522-22 22
Fax +49 561 9522-22 23
ir(at)SMA.de
Julia Damm
Investor Relations Officer
Phone +49 561 9522-11 64
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. 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 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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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Deutschland
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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117509 30.03.2011
Datum: 30.03.2011 - 07:03 Uhr
Sprache: Deutsch
News-ID 33630
Anzahl Zeichen: 0
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Kategorie:
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