SMA Solar Technology AG: Managing Board Decreases Forecast for Current Fiscal Year
SMA Solar Technology AG-ad-hoc
Niestetal, October 24, 2016 - The Managing Board of SMA Solar Technology AG (SMA/FWB: S92) is adjusting its sales and earnings forecast for the 2016 fiscal year. The new forecast anticipates sales between EUR900 million and EUR950 million (previously EUR950 million to EUR1,050 million) and continues to anticipate a significant year-on-year increase in EBIT to between EUR60 million and EUR70 million (previously EUR80 million to EUR120 million). This forecast adjustment was mainly caused by price pressure emerging in all market segments worldwide since the middle of 2016 and numerous delays in major solar projects. Based on provisional figures, SMA achieved sales of more than EUR220 million and EBIT of more than EUR20 million in the third quarter of 2016. In the third quarter, the gross margin was around 25%. Net cash was more than EUR350 million as of September 30, 2016.
Contact Ulrich Hadding Executive Vice President Finance
Information and Explanation of the Issuer to this News:
The SMA Group with sales of EUR1 billion in 2015 is the global market leader for solar inverters, a key component of all PV plants, and offers innovative key technologies for future power supply structures. It is headquartered in Niestetal, near Kassel, Germany, and is represented in 20 countries. The Group employs more than 3,000 people worldwide. SMA has an extensive range of products, which offers the right inverters for all module types and plant sizes; for small residential systems as well as large-scale plants, grid-connected photovoltaic systems as well as off-grid and hybrid systems. Moreover, SMA offers system technology for various battery technologies and system sizes and collaborates with renowned battery manufacturers and companies from the automotive industry. The SMA technology is protected by about 750 patents and utility models worldwide. The range of services is supplemented by comprehensive services and operational management of large-scale PV power plants. 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 is currently the only company in the solar industry that is listed in the TecDAX index.
SMA Solar Technology AG Sonnenallee 1 34266 Niestetal Germany
Head of Corporate Communications: Anja Jasper Tel. +49 561 9522-2805 Presse@SMA.de
Press Contact: Susanne Henkel Manager Corporate Press Tel. +49 561 9522-1124 Fax +49 561 9522-421400 Presse@SMA.de
24.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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: firstname.lastname@example.org Internet: http://www.sma.de ISIN: DE000A0DJ6J9 WKN: A0DJ6J Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service