SMA Solar Technology AG
SMA Solar Technology AG: SMA Releases its 2012 Estimates Following Reduction in Solar Power Subsidies in Germany
SMA Solar Technology AG / Key word(s): Forecast 02.03.2012 13:28 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc notification from SMA Solar Technology AG SMA Solar Technology AG Releases its 2012 Estimates Following Reduction in Solar Power Subsidies in Germany 2012 estimates: - EUR1.2 billion - EUR1.5 billion in sales - 5 percent - 10 percent EBIT margin Kassel/Niestetal, March 2, 2012 - Due to massive cuts to solar power subsidies in Europe, the Managing Board of SMA Solar Technology AG (SMA/FWB: S92) estimates that the global photovoltaic market will experience subdued growth in 2012. The Managing Board believes that the radical reduction in subsidies, particularly in Germany, will lead to lower demand for medium to large-scale PV plants. At the moment, it cannot be predicted whether Asian and American markets can fully compensate for the decline. Since SMA is dependent on the global market, the lower demand will affect the business growth of SMA. The SMA Managing Board therefore predicts that sales for the 2012 fiscal year will decline to EUR1.2 billion to EUR1.5 billion with an EBIT margin between 5 percent and 10 percent. 'Based on information from the Managing Board regarding target profitability, SMA is above the German electrical industry but below the figures the company reported from the previous year. Technological innovations alone are not enough to compensate for such a sudden drop in sales. The SMA Managing Board predicts an increase in sales in all business areas over the coming years. However, due to the foreseeable changes in different incentive programs and the generally high dynamism of global photovoltaic markets, accurate forecasts are currently not possible. End of ad hoc notification Additional Information: To drive the key technologies of tomorrow, SMA will invest over EUR 100 million in research and development. 'The success of the energy revolution depends on technologies for managing decentralized energy production and integrating energy storage solutions. By focusing on strategic areas such as energy management and grid integration at an early stage, SMA is able to offer solutions today that can meet the demands of tomorrow,' remarks Urbon. 'Our expertise allows us to play an active role in ushering in the global energy revolution. It not only helps us stand apart from the competition, but also allows us to lower system costs.' PV plant prices have actually gone down by almost 60 percent since 2008. According to Mr. Urbon, the lower prices are primarily the result of technological innovations. 'Today photovoltaics are becoming commercially competitive and increasingly being used on a global scale. Thanks to our wide range of high quality and flexible products combined with our subsidiaries in 19 countries and a tight-knit service network, SMA is uniquely positioned in the photovoltaic market. In response we will pursue our internationalization strategy even more aggressively and increase foreign sales to over 80 percent of total group sales. This will allow us to significantly reduce our dependence on the German photovoltaic market,' explains Pierre-Pascal Urbon. 'SMA has the financial strength to take advantage of future growth opportunities on its own,' says the Speaker of the Managing Board. About SMA The SMA Group generated sales of EUR1.9 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 Tel. +49 561 9522-2805 Press@SMA.de Press contact: Susanne Henkel Press Officer Tel. +49 561 9522-1124 Fax +49 561 9522-531400 Press@SMA.de Investor Relations contact: Stephanie Kniep Director Investor Relations Tel. +49 561 9522-2222 Fax +49 561 9522-2223 ir@SMA.de Julia Damm Investor Relations Officer Tel. +49 561 9522-1164 Disclaimer: This ad hoc notification 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 ad hoc notification 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 executive 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. 02.03.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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: info@sma.de Internet: http://www.sma.de ISIN: DE000A0DJ6J9 WKN: A0DJ6J Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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