DGAP-News: SMA Solar Technology AG / Key word(s): 9-month figures SMA Solar Technology AG - Corporate News - 5.9 GW inverter output sold (Q1-Q3 2016: 5.7 GW) - Sales of EUR592.5 million (Q1-Q3 2016: EUR708.8 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR55.3 million (Q1-Q3 2016: EUR107.9 million) - High operating cash flow of EUR78.7 million (Q1-Q3 2016: EUR123.6 million) - Financial stability thanks to equity ratio of 49.3% (December 31, 2016: 48.3%) and high net cash of EUR435.8 million (December 31, 2016: EUR362.0 million) - As of October 31, 2017, order backlog increases to EUR761 million, of which EUR350 million is attributable to the product business - Managing Board specifies guidance for fiscal year 2017
SMA considerably boosted profitability in the third quarter of 2017. The gross margin increased to 25%. Earnings before interest, taxes, depreciation and amortization (EBITDA) doubled to EUR26 million. All segments generated positive operating earnings in the third quarter. From January to September 2017, SMA generated EBITDA of EUR55.3 million (EBITDA margin: 9.3%; Q1-Q3 2016: EUR107.9 million, 15.2%). Earnings before interest and taxes (EBIT) was EUR15.6 million (Q1-Q3 2016: EUR59.4 million) and therefore already at the lower end of the guidance for the year as a whole. Net income was EUR25.0 million in the reporting period (Q1-Q3 2016: EUR36.9 million). Earnings per share thus amounted to EUR0.72 (Q1-Q3 2016: EUR1.06). SMA's business model is not capital intensive. As a result, SMA generated high operating cash flow of EUR78.7 million in the reporting period (Q1-Q3 2016: EUR123.6 million) and further increased its high liquidity reserve. Net cash rose to EUR435.8 million (December 31, 2016: EUR362.0 million). The equity ratio slightly increased to 49.3% (December 31, 2016: 48.3%). As a result, SMA still has a highly solid balance-sheet structure. "To date, the fiscal year has gone better for SMA than we had expected at the start of the year," said SMA CEO Pierre-Pascal Urbon. "We have once more shown that we are good at adapting to the quickly changing market conditions. Thanks to our international presence and our new products, we have increased the product-related order backlog by 25% to EUR350 million since the end of the first half of 2017. We expect strong end-of-year business and are confident about achieving our objective for the year. However, due to a supply shortage of critical components we will probably come in at the lower end of the sales guidance. With Strategy 2020, we are going one step further. As an energy service provider, we want to benefit from the digitization of the energy industry in the future. Therefore, SMA will invest in platforms to connect energy producers with energy consumers and create network effects. The PV inverter remains our core area of expertise because it is the ideal sensor for valuable energy data." The SMA Managing Board specifies its guidance for the 2017 fiscal year. The guidance now forecasts sales of more than EUR900 million and unchanged EBITDA of between EUR85 million and EUR100 million. Net cash is expected to rise to more than EUR450 million thanks to high operating cash flow. You can find the quarterly statement for January to September 2017 at www.SMA.de/IR/FinancialReports.
The SMA Group with sales of around EUR1 billion in 2016 is the global market leader for solar inverters, a key component of all PV plants. SMA offers a wide range of products and solutions that allow for high energy yields for residential and commercial PV systems and large-scale PV power plants. To increase PV self-consumption efficiently, SMA system technology can easily be combined with different battery technologies. Intelligent energy management solutions, comprehensive services and operational management of PV power plants round off SMA's range. The company is headquartered in Niestetal, near Kassel, Germany, is represented in 20 countries and has more than 3,000 employees worldwide, including 500 working in Development. SMA's multi-award-winning technology is protected by more than 900 patents and utility models. 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 Head of Corporate Communications:
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.
09.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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@sma.de |
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 News | DGAP News Service |
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