SMA outperforms first quarter guidance and confirms outlook for the full year 2012

DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA outperforms first quarter guidance and
confirms outlook for the full year 2012

10.05.2012 / 07:00


SMA Solar Technology AG Corporate News

SMA Solar Technology AG outperforms first quarter guidance and confirms
outlook for the full year 2012

Highlights Q1 2012
- 1.9 gigawatts of inverter output sold (Q1 2011: 1.0 GW)

- Sales amounted to EUR405.0 million, exceeding own guidance and the
previous year's level (Q1 2011: EUR255.9 million)

- Strong international business, with an export ratio of 61.2% (Q1 2011:

- Earnings before interest and taxes (EBIT) tripled to EUR42.8 million
(Q1 2011: EUR13.7 million)

- Financial independence with net cash of EUR468.7 million (Dec. 31,
2011: EUR473.3 million)

- Managing Board confirms sales and earnings guidance for 2012

Niestetal (Germany), May 10, 2012 - SMA Solar Technology AG (SMA/FWB: S92)
posted a positive start to fiscal year 2012. In the first quarter, the
company sold solar inverters with a total output of 1.9 gigawatts (Q1 2011:
1.0 GW), with sales amounting to EUR405 million. This exceeded both SMA's
own guidance of EUR350 million to
EUR390 million and the result for the same period in the previous year (Q1
2011: EUR255.9 million).

The first quarter of 2012 was significantly marked by catch-up and
pull-forward effects in important European photovoltaic markets. 'The
strong demand for Sunny Boy inverters for PV rooftop systems in Europe
during the first quarter reflects catch-up effects resulting from
commercial commissioning in the fourth quarter of 2011 as well as
pull-forward effects resulting from the discussion of additional
feed-in-tariff reductions,' explained Pierre-Pascal Urbon, Speaker of the
Managing Board and Chief Financial Officer for SMA. Project business with
Sunny Central inverters has developed very well, particularly in markets
outside Europe. SMA's excellent international position, with a global sales
and service network as well as a complete product line for all specific
national requirements, enabled the company to strongly profit from this
trend. Gross foreign sales rose by approximately 50% compared with the same
period last year, to EUR257.6 million (Q1 2011: EUR173.9 million). The
company's most important foreign markets in the first quarter of 2012 were
the U. S., Belgium, the United Kingdom, and France.

Earnings before interest and taxes (EBIT) amounted to three times the
previous year's first-quarter level, soaring to EUR42.8 million (Q1 2011:
EUR13.7 million). The EBIT margin also improved compared with last year,
rising to 10.6%
(Q1 2011: 5.4%). The company's consolidated net profit totaled EUR29.6
million (Q1 2011: EUR10.3 million). With an equity ratio of 58.1% and net
cash of EUR468.7 million (Dec. 31, 2011: EUR473.3 million), SMA continues
to have a very solid balance-sheet structure and is financially

For the remainder of the year, the SMA Managing Board anticipates falling
demand in many European markets. It is too soon to tell whether the
photovoltaic markets in America and Asia can compensate for this slowdown.
Therefore, despite the strong first-quarter results, the SMA Managing Board
confirms its guidance for 2012 published at the beginning of March, in
which it anticipated sales of EUR1.2 billion to EUR1.5 billion and an EBIT
margin of 5% to 10%.

'SMA is able to finance its expansion plans from its own resources.
Particularly in times of great uncertainty in the capital markets, this is
very important,' said Pierre-Pascal Urbon. 'The energy transition brings
many opportunities, especially for technology-oriented companies. Through
our continued investments in development, we are poised to take advantage
of them. We look forward to showcasing numerous innovations at Intersolar
Europe in Munich on June 13-15.'

The quarterly financial report for January 2012 to March 2012 is available
online at www.SMA.de/IR/FinancialReports.

About SMA
The SMA Group generated sales of EUR1.7 billion in 2011 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 5,500 people
worldwide, plus a number of temporary employees that varies on a seasonal
basis. SMA's broad product portfolio includes a compatible inverter for
every type of module on the market and for all PV plant sizes. The product
range includes inverters both for grid-connected PV plants and for off-grid
systems. SMA can therefore provide an ideal inverter solution 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 in 2011 and 2012
achieved first place in Germany's nationwide Great Place to Work(R)

SMA Solar Technology AG
Sonnenallee 1
D-34266 Niestetal

Head of Corporate Communications:
Anja Jasper
Tel. +49 561 9522-2805

Press contact:
Susanne Henkel
Manager Corporate Press
Tel. +49 561 9522-1124
Fax +49 561 9522-531400

Investor Relations contact:
Julia Damm
Investor Relations Officer
Tel. +49 561 9522-2222
Fax +49 561 9522-2223


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

This corporate news may 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.

End of Corporate News


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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: www.sma.de
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service
169023 10.05.2012

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