Preliminary estimates from the Managing Board of SMA Solar Technology AG (SMA/FWB: S92) show sales of about €1.7 billion in 2011 and earnings before interest and taxes (EBIT) of more than €240 million. With this, SMA fully achieved both of its forecast targets as well as the second-best earnings in the company history. The successful development was based on the company's global presence and a broad product portfolio that allows SMA to fulfill a wide range of customer requirements. According to SMA Managing Board estimates, the company maintained its global market share at last year's level - 35 percent - in a highly competitive environment.
The SMA Managing Board estimates that photovoltaic plants
with a presumed capacity of approx. 23 gigawatts were
installed worldwide in 2011. "With this, the size of
the global market remained nearly unchanged in comparison
to 2010. At the same time, demand shifted regionally.
Declines in some important photovoltaic markets were
compensated by growth in new markets," explained
Pierre-Pascal Urbon, Spokesman of the Managing Board and
Chief Financial Officer of SMA Solar Technology AG.
"The product mix changed accordingly, and there was
increasing demand for larger inverters. Thanks to our broad
product range - from Sunny Boy inverters for private
photovoltaic plants to Sunny Central inverters for
large-scale PV projects - and to our strong international
position, we were able to serve the changed demand
well."
In the world's largest photovoltaic market, Germany,
SMA successfully maintained its position as market leader
and even expanded it slightly. PV plants with a capacity of
three gigawatts were constructed here during December 2011
alone. There are many different reasons for the strong
growth in new installations. One significant factor is the
15 percent reduction in the feed-in tariff as of January 1,
2012. Added to this was an increased sell-off at year's
end among wholesalers in order to minimize the risk of
depreciation of their inventories. The advantageous
interest rate level, low system prices and unusually mild
weather also promoted the additional installation. "We
also assume that many photovoltaic plants were only
commissioned commercially; the installed plants were
therefore registered with the Federal Network Agency
without inverters. We already see this reflected in our
current business development," Urbon said.
According to preliminary estimates by the Managing Board,
SMA's sales in the fiscal year 2011 amounted to around
€1.7 billion. Export sales are anticipated to have
increased by approx. 55 % (2010: 45 %). Project business
made up about 25 % of the Group's sales, according to
initial estimates (2010: 18 %). SMA will continue its
successful internationalization strategy in 2012 and will
establish foreign companies in South America and
Africa.
The Managing Board of SMA anticipates slight growth in
global demand for photovoltaic plants during the current
fiscal year, but cannot exclude the possibility of a slight
decline. "We see positive growth in 2012 in the United
States, Japan and India. A reliable forecast for the global
market is not currently possible, however, due to numerous
changes in important markets and uncertainty caused by the
current euro and financial crisis," Urbon
emphasized. "We can therefore provide no sales
and earnings forecast at this point for the current fiscal
year."
The SMA Managing Board is confident that thanks to the
company's high flexibility, continuous investment in
research and development, innovative product portfolio and
strong international position, SMA is well positioned to
react quickly to all market developments and to profit from
the outstanding long-term potential for growth in the
promising field of photovoltaics technology.
The SMA Managing Board will present the complete
consolidated financial statement for the 2011 fiscal year
at its press conference on the annual results on March 29,
2012 in Frankfurt/Main. The 2011 annual report will be
available at in the Investor Relations section.
About SMA
The SMA Group generated sales of €1.9 billion in 2010 and
is the global market leader for solar inverters, a key
component of all PV plants. It is headquartered in
Niestetal, near Kassel, Germany, and is represented in 19
countries on four continents. The Group employs more than
5,300 people worldwide, including temporary seasonal
employees. SMA's broad product portfolio includes
a compatible inverter for every type of module on the
market and for all plant sizes. The product range
covers both inverters for photovoltaic plants connected to
the grid as well as inverters for off-grid systems.
Therefore, SMA is able to provide ideal technical inverter
solutions for all plant sizes and types. 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 also in the TecDAX index. In
recent years, SMA has received numerous awards for
excellence as an employer and most recently achieved first
place in the nationwide "Great Place to Work"
competition.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communication:
Anja Jasper
Press contact:
Susanne Henkel
Press Officer
Tel. +49 561 9522-11 24
Investor Relations contact:
Stephanie Kniep
Director of Investor Relations
Tel. +49 561 9522-22 22
Julia Damm
Manager, Investor Relations
Tel. +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
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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