Corporate | 31 March 2009 07:06
SMA Solar Technology AG / Final Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- The best ever results in the Company's history in 2008
- Sales more than doubled to EUR 682 million
- EBIT rose to EUR 167 million in 2008
- EBIT margin of 24,6 % in 2008
- Earnings per share more than tripled to EUR 3.44
- Net working capital reduced to 11 % of sales
- Proposed dividend of EUR 1.00 per share for 2008
SMA Solar Technology AG (FWB: S92) today publishes its annual report
including the consolidated financial statements for 2008 and the individual
financial statements for the AG. The results published today are slightly
above the preliminary figures announced on February 19, 2009 and at the top
end of the Management Board's sales forecast
(EUR 650 - 690 million).
In the 2008 fiscal year, SMA had a disproportionately high share in the
worldwide growth of the photovoltaics (PV) market. While the total market
rose by about 100 % to ca. 5.7 GW (previous year: 2.8 GW) according to the
German Solar Industry Association (Bundesverband Solarwirtschaft, BSW), SMA
increased its PV inverter output sold by about 130 % to 2.2 GW (previous
year: 950 MW). This corresponds to a global market share of approximately
38 % (previous year: ca. 34 %).
Consolidated sales in 2008 more than doubled to EUR 681.6 million (previous
year: EUR 327.3 million). The share of sales from foreign markets increased
significantly during fiscal year 2008 to about 42 % (previous year: 29 %).
In the fourth quarter of 2008, SMA generated sales of EUR 162.3 million and
the EBIT stood at EUR 35.6 million. The EBIT margin thus was 21.9 % in the
last quarter. In the reporting period from January to December 2008, SMA
improved its EBIT margin significantly to 24.6 % (previous year: 18.1 %).
Consolidated profit tripled in 2008 to EUR 119.5 million as compared to
EUR 36.8 million in 2007. Based on a number of 34.7 million shares as at
the balance sheet date of December 31, 2008, the earnings per share
amounted to EUR 3.44 (previous year, converted to 34.7 million shares:
EUR 1.06).
The Company was also able to improve the net working capital ratio
significantly. On December 31, 2008, the net working capital ratio had
fallen to 11.4 % (previous year: 18.1 %).
On the balance sheet date of December 31, 2008, cash and cash equivalents
and securities totaled EUR 261.0 million. Less short-term and long-term
financial liabilities net cash amounts to EUR 239,0 million. The equity
ratio stood at 59.8 %. Accordingly, SMA has a solid financial basis for the
medium term.
The annual report and the individual financial statements for 2008 are
available on the corporate website at
http://www.SMA.de/IR/FinancialReports.
About SMA Solar Technology AG
SMA generated sales of more than EUR 680 million in 2008 and is thus
worldwide market leader for photovoltaic inverters, a key component of all
photovoltaic solar power plants. The SMA Group is based in Niestetal, near
Kassel, and is represented by foreign subsidiaries in eleven different
countries on four continents. The Group employs a staff of over 2,500
(incl. temporary staff). SMA produces a broad range of inverters, offering
the right inverter for every type of photovoltaic module in use and for all
sizes of photovoltaic plants. The product range covers both inverters for
photovoltaic plants connected to the grid and inverters for off-grid
systems. The company has been listed on the Frankfurt Stock Exchange Prime
Standard (S92) since June 27, 2008; since September 22, 2008 the company's
shares have been listed on the TecDAX. In the past, SMA received a number
of awards for its excellence as an employer.
Press contact:
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Volker Wasgindt
Head of Media and Association Relations
Phone +49 561 9522-11 21
Fax +49 561 9522-11 03
Volker.Wasgindt@SMA.de
Investor Relations Contact:
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Phone: +49 561 9522-22 22
Fax +49 561 9522-22 23
ir@sma.de
Anna Raudszus (Institutional Investors/Analysts)
Phone: +49 561 9522-22 22
Julia Damm (Private Investors)
Phone: +49 561 9522-11 64
Link to financial reports:
www.SMA.de/IR/FinancialReports (English)
www.SMA.de/IR/Finanzberichte (German)
Disclaimer:
This press release serves only as information and is not an invitation to
purchase, hold or sell shares.
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
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
conform them to future events or developments.
31.03.2009 Financial News transmitted by DGAP
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Language: English
Issuer: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Deutschland
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 News DGAP News-Service
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