In 2019, SMA Solar Technology AG (SMA/FWB: S92) sold PV inverters with a total output of 11.4 GW. Inverter output sold in the past fiscal year was thus 34% higher than in the previous year (2018: 8.5 GW). According to preliminary calculations by the SMA Managing Board, sales increased to around €915 million (2018: €760.9 million) and therefore exceeded the Managing Board’s guidance of between €800 million and €880 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) of expected around €35 million (2018: –€69.1 million) were in line with the Managing Board’s guidance of between €20 million and €50 million. Depreciation and amortization are expected to be approximately €45 million. For the 2020 fiscal year, the SMA Managing Board is expecting sales to increase to between €1.0 billion and €1.1 billion and positive EBITDA of between €50 million and €80 million.
“After a difficult 2018, we successfully implemented a range of measures aimed at reducing costs and increasing sales in 2019,” said SMA Chief Executive Officer Jürgen Reinert. “In the last fiscal year, SMA’s inverter sales exceeded a total output of more than 10 GW for the first time ever. We regained market shares in our core business and continued SMA’s evolution into a systems and solutions provider by introducing system packages for private and commercial applications. In the field of the future of storage technology, we concluded contracts to supply more than 1 GW of battery inverter power, while our portfolio increased by 50% to 4.5 GW in the area of operations and maintenance services for large-scale PV power plants. We will continue along our successful path and expect a further increase in sales and earnings in 2020.”
The SMA Managing Board expects sales to increase to between €1.0 billion and €1.1 billion in 2020. Key stimuli include the ongoing positive market development expected in Europe and America and the growth of the storage market. SMA is well positioned to benefit from this market growth and gain additional market shares. In addition, the Managing Board is implementing further cost reduction measures. In this context, the SMA Managing Board is also expecting a significant increase in earnings. According to the Managing Board estimates, EBITDA will be between €50 million and €80 million in 2020.
At the Capital Markets Day on February 7, the SMA Managing Board will present the development of the markets and the positioning of the company in its core business and in key fields of the future. The presentation containing additional information will be available at www.sma.de/en/investor-relations/publications from the beginning of the event. SMA will publish the complete consolidated financial statements for 2019 on March 26, 2020.
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 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.
“After a difficult 2018, we successfully implemented a range of measures aimed at reducing costs and increasing sales in 2019,” said SMA Chief Executive Officer Jürgen Reinert. “In the last fiscal year, SMA’s inverter sales exceeded a total output of more than 10 GW for the first time ever. We regained market shares in our core business and continued SMA’s evolution into a systems and solutions provider by introducing system packages for private and commercial applications. In the field of the future of storage technology, we concluded contracts to supply more than 1 GW of battery inverter power, while our portfolio increased by 50% to 4.5 GW in the area of operations and maintenance services for large-scale PV power plants. We will continue along our successful path and expect a further increase in sales and earnings in 2020.”
The SMA Managing Board expects sales to increase to between €1.0 billion and €1.1 billion in 2020. Key stimuli include the ongoing positive market development expected in Europe and America and the growth of the storage market. SMA is well positioned to benefit from this market growth and gain additional market shares. In addition, the Managing Board is implementing further cost reduction measures. In this context, the SMA Managing Board is also expecting a significant increase in earnings. According to the Managing Board estimates, EBITDA will be between €50 million and €80 million in 2020.
At the Capital Markets Day on February 7, the SMA Managing Board will present the development of the markets and the positioning of the company in its core business and in key fields of the future. The presentation containing additional information will be available at www.sma.de/en/investor-relations/publications from the beginning of the event. SMA will publish the complete consolidated financial statements for 2019 on March 26, 2020.
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 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.
