The Management Board of SMA Solar Technology AG forecasts significant revenue and earnings growth for the months to come in the first half of the year, as anticipated to be subdued

• Sold inverter power with 4.0 GW below previous year’s level (H1 2018: 4.3 GW)
• Sales of 362.7 million euros (H1 2018: 394.6 million euros) and operating earnings before depreciation, interest and taxes (EBITDA) of 8.5 million euros (H1 2018: 40.9 million euros)
• Balance sheet stability thanks to solid equity ratio of 41.9 percent (December 31, 2018: 42.9 percent) and net liquidity of € 268.2 million (December 31, 2018: € 305.5 million)
• Very high order backlog of EUR 818.7 million, including EUR 453.1 million in product business (31/12/2018: EUR 175.4 million in product business)
• Cost reduction program is proceeding according to plan
• Management Board confirms sales and earnings forecast for financial year 2019

In the first half of 2019, SMA Solar Technology AG (SMA / FWB: S92) sold inverters with a total output of around 4.0 GW (H1 2018: 4.3 GW). Compared to the first half of 2018, revenue decreased by 8.1 percent to € 362.7 million (H1 2018: € 394.6 million). This is attributable in particular to the still weak project business in the first half of the year. By contrast, SMA recorded a significant increase in sales of private rooftop systems. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 8.5 million between January and June 2019 (EBITDA margin: 2.3 percent, H1 2018: EUR 40.9 million, 10.4 percent; the previous year’s result includes significant positive one-off effects). Order intake developed very well in all segments in the first half of the year, but especially in the Large Scale & Project Solutions segment. On this basis, the SMA Managing Board expects a significant increase in sales and earnings in the second half of the year.

Consolidated net income in the first half of 2019 was EUR -14.2 million (H1 2018: EUR 11.2 million). Earnings per share thus amounted to € -0.41 (H1 2018: € 0.32). With a net cash position of € 268.2 million (31/12/2018: € 305.5 million) and an equity ratio of 41.9 percent (31/12/2018: 42.9 percent), SMA continues to have a solid balance sheet structure.

“As expected, SMA sales and earnings in the first half of 2019 lagged behind the same period of the previous year. At the same time, incoming orders developed very positively. Among other things, we secured the largest order in our company’s history in May. As of June 30, 2019, SMA has a product-related order backlog of € 453.1 million. Thus, we increased this order backlog by 158 percent in the first six months of the year, “explains SMA CEO Dr. Ing. Jürgen Reinert. “In the Home Solutions segment, the good order intake already had a positive effect in the first half of the year. Here, SMA generated around 21 percent more sales than in the same period of the previous year. In the Large Scale & Project Solutions segment, which accounts for a large part of the order backlog, In contrast, the implementation of projects usually takes four to ten months. Accordingly, we expect a significant increase in sales here only in the second half of the year. “

The SMA Managing Board confirms its sales and earnings forecast for the 2019 financial year. It expects revenues of € 800 million to € 880 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of € 20 million to € 50 million. Euro before. Depreciation and amortization will amount to approx. EUR 50 million according to Management Board estimates.

About SMA

As a globally leading specialist in photovoltaic system technology, the SMA Group today creates the conditions for the decentralized and renewable energy supply of tomorrow. SMA’s portfolio encompasses a broad spectrum of efficient solar inverters and integrated system solutions for all types of photovoltaic systems, intelligent energy management systems and battery storage solutions as well as complete solutions for PV diesel hybrid applications. Digital energy services as well as comprehensive services, including the takeover of operating and maintenance services for photovoltaic power plants, complete the offer. SMA inverters with a total output of around 75 GW are installed in over 190 countries worldwide. The award-winning technology from SMA is over 1. 400 patents and registered utility models protected. The parent company SMA Solar Technology AG has been listed in the Prime Standard of the Frankfurt Stock Exchange (S92) since 2008 and is listed in the SDAX.

Source : newsroom