|
DGAP-News: SMA Solar Technology AG
/ Key word(s): Preliminary Results/Forecast
SMA Solar Technology AG Corporate News SMA Solar Technology AG surpasses billion euro mark in sales and doubles operating earnings in 2020 despite coronavirus crisis - Managing Board expects further growth in 2021 Niestetal, February 5, 2021 - SMA Solar Technology AG (SMA/FWB: S92) sold inverters with a cumulative output of 14.4 GW in 2020. Inverter output sold was 26% above the previous year's level (2019: 11.4 GW). In total, SMA thus has more than 100 GW of installed inverter capacity. According to preliminary calculations by the SMA Managing Board, sales increased to around €1,027 million (2019: €915.1 million) and was thus within the Managing Board's guidance of between €1,000 million and €1,100 million issued at the start of 2020, despite the coronavirus pandemic. Earnings before interest, taxes, depreciation and amortization (EBITDA) of expected about €72 million (2019: €34.2 million) were also in line with the Managing Board's guidance of between €50 million and €80 million. Depreciation and amortization are expected to be approximately €44 million. For the 2021 fiscal year, the SMA Managing Board expects sales to increase to between €1,075 million and €1,175 million and EBITDA to rise to between €75 million and €95 million. "Despite the considerable challenges presented by the coronavirus pandemic, we achieved the sales and earnings growth forecast at the start of the year in 2020," said SMA Chief Executive Officer Jürgen Reinert. "Thanks to our exceptionally dedicated employees and well established IT infrastructure, we were able to switch seamlessly to working from home. We rapidly implemented effective precautions against the spread of infection within the company and worked closely with suppliers and customers. We therefore did not have to interrupt production for a single day, and neither did we have to claim any state aid. We sold almost 15 GW of inverter output for the first time in 2020. That corresponds to the power as of 12 nuclear power plants. In total, more than 100 GW of SMA inverter output has now been installed worldwide. They contribute to a sustainable and cost-effective energy supply on all continents. In 2021, we will build on this success, benefit from the expected positive market development and further increase sales and earnings." For 2021, the SMA Managing Board anticipates that sales will grow to between €1,075 million and €1,175 million. Key stimuli behind this will include the expected continuing growth of the PV market in Europe and America as well as the global storage market. SMA is well positioned to benefit from these developments and consolidate its market position. In addition, the Managing Board is driving the ongoing development of its product range toward creating a system landscape for decentralized energy supply as part of the SMA Strategy 2025. The Managing Board is convinced that lower production costs and the leveraging of economies of scale accompanied by price declines leveling off will bolster SMA's profitability, which will also be supported by the portfolio streamlining that has already begun, focusing on higher-margin products and systems. Against this background, the SMA Managing Board anticipates growth in EBITDA to between €75 million and €95 million for 2021. At today's Capital Markets Day, the SMA Managing Board will present the development of the markets and the company's positioning and strategy in its core business and in key fields of the future. The presentation containing additional information can be found at from the beginning of the event. SMA will publish the complete consolidated financial statements for 2020 on March 25, 2021. About SMA
Head of Corporate Communications: Disclaimer: 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 The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
05.02.2021 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: | |
| Internet: | |
| ISIN: | DE000A0DJ6J9 |
| WKN: | A0DJ6J |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1166146 |
| End of News | DGAP News Service |
|
|
1166146 05.02.2021
