SMA Solar Technology : Annual General Meeting of SMA Solar Technology AG Discharges Managing Board and Supervisory Board, Resolves Dividend

05/23/17

Category: Corporate News

DGAP-News: SMA Solar Technology AG / Key word(s): AGM/EGM
SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG
Discharges Managing Board and Supervisory Board, Resolves Dividend

23.05.2017 / 16:24
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG Corporate News

Annual General Meeting of SMA Solar Technology AG Discharges Managing Board
and Supervisory Board, Resolves Dividend

Niestetal, May 23, 2017 - The shareholders of SMA Solar Technology AG
(SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the 2016 fiscal year with a clear majority of over 99% at today's
Annual General Meeting in Kassel. The remaining items on the agenda were
also passed with a large majority. Nearly 400 shareholders attended the 2017
Annual General Meeting of SMA Solar Technology AG, and 85% of those with
voting rights were present. The Annual General Meeting followed the
suggestion of the Managing Board and Supervisory Board and approved the
dividend payout of EUR 0.26 per qualifying bearer share for the 2016 fiscal
year.

'After the successful turnaround, SMA regained good strength in earnings and
significantly increased cash flow last year,' said SMA Chief Executive
Officer Pierre-Pascal Urbon. 'SMA has excellent fundamentals and is
maintaining the dividend policy pursued since the IPO. As in the boom years,
most of our earnings should remain within the company. In this way, we can
ensure that SMA is able to implement its strategy from its own resources and
become an energy service provider in the years to come.' In the 2016 fiscal
year, SMA generated EUR946.7 million in sales and significantly increased
EBITDA to EUR 141.5 million. Net income amounted to EUR 29.6 million. With a
payout totaling EUR 9 million, the payout ratio in relation to net income
amounts to 32.8%. The depository banks will begin dividend payments on May
24, 2017.

In the first four months of 2017, SMA posted a positive trend in order
intake. Since the beginning of the year, order backlog increased by 20% to a
total of EUR 646 million. Around EUR 250 million of this amount was
attributable to product business. The SMA Managing Board therefore confirmed
its sales and earnings forecast for the 2017 fiscal year. The forecast
anticipates sales of EUR 830 million to EUR 900 million and EBITDA of EUR 70
million to EUR 90 million. Net cash will amount to between EUR 400 million
and EUR 450 million due to high operating cash flow.

The Annual General Meeting elected Alexa Hergenröther to the Supervisory
Board by a large majority. She was appointed by the court in August 2016,
after Dr. Winfried Hoffmann had stepped down from his position as a
shareholder representative. The 12-member SMA Supervisory Board provides
equal representation of shareholders and employees. Alexa Hergenröther
joined the existing members, Roland Bent, Peter Drews, Dr. Erik Ehrentraut,
Kim Fausing and Reiner Wettlaufer, in representing shareholder interests.
Employees continue to be represented on the Supervisory Board by Oliver
Dietzel, Johannes Häde, Heike Haigis, Yvonne Siebert, Dr. Matthias Victor
and Hans-Dieter Werner.

The presentation and the speech given by the Managing Board at the Annual
General Meeting, along with further information, can be found on the
internet at www.sma.de/en/investor-relations/annual-general-meeting.

About SMA
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
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

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.

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23.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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@sma.de
Internet: 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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576677 23.05.2017

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