Corporate | 19 September 2011 14:46
|
SMA Solar Technology AG / Key word(s): Profit Warning
Corporate News from SMA Solar Technology AG SMA Solar Technology AG: Managing Board Revises Its 2011 Sales and Earnings Forecast on Account of Weak Demand in the Solar Inverters for Roof Systems Business Niestetal, September 19, 2011 – According to a Managing Board estimate, the demand for solar power plants has only marginally improved in many solar markets after the summer months. Contrary to Managing Board expectations, SMA has established only a minor upturn in the high-volume business of solar inverters for roof systems. Pleasing development in the central inverters business for large-scale solar power plants cannot fully compensate for the weak commercial order situation. The Managing Board has consequently decided, in today’s meeting, to revise its sales and earnings forecast for the 2011 fiscal year. For 2011, the Managing Board anticipates a sales range between EUR1.5 billion and EUR1.7 billion (previously: EUR1.5 billion and EUR1.9 billion) and an EBIT corridor of EUR220 million to EUR300 million (previously: EUR315 million to EUR475 million). The subdued demand and weak commercial order situation can be explained by a number of factors. The debate surrounding the expansion of photovoltaic energy has unsettled end-customers just as much as the current euro and debt crisis. Pleasing development in the project business is testament to the current favorable general conditions for the expansion of photovoltaic energy. Investors are currently benefiting from historically low interest rates and a significant reduction in the specific costs of constructing a large-scale solar power plant. SMA is dependent on the development of global demand and makes its products to order. In order to respond rapidly to the frequent fluctuations in demand in the various market segments, SMA has been using the tactic of employing temporary workers for many years. In view of the current order situation and the weak demand expected during the winter months based on past experience, SMA will be forced to phase out the employment of around 1,000 of its present temporary workers by the end of the year. For 2012, the Managing Board expects to see stagnated or moderate growth in global demand for solar power plants. It is currently impossible to give a reliable forecast for 2012 and subsequent fiscal years in view of the manifold influencing factors.
About SMA
SMA Solar Technology AG
Corporate Communications:
Press contact:
Julia Damm
Disclaimer: 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 amended. 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 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 19.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. 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 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 139695 19.09.2011 |