Corporate | 13 January 2012 09:51
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SMA Solar Technology AG / Key word(s): Preliminary Results
SMA Solar Technology AG – Press Release Preliminary calculations show that SMA Solar Technology AG achieved sales and earnings targets for the 2011 fiscal year in an intensely competitive market environment Niestetal, January 12, 2012 – Preliminary estimates from the Managing Board of SMA Solar Technology AG (SMA/FWB: S92) show sales of about EUR1.7 billion in 2011 and earnings before interest and taxes (EBIT) of more than EUR240 million. With this, SMA fully achieved both of its forecast targets as well as the second-best earnings in the company history. The successful development was based on the company’s global presence and a broad product portfolio that allows SMA to fulfill a wide range of customer requirements. According to SMA Managing Board estimates, the company maintained its global market share at last year’s level – 35 percent – in a highly competitive environment. The SMA Managing Board estimates that photovoltaic plants with a presumed capacity of approx. 23 gigawatts were installed worldwide in 2011. ‘With this, the size of the global market remained nearly unchanged in comparison to 2010. At the same time, demand shifted regionally. Declines in some important photovoltaic markets were compensated by growth in new markets,’ explained Pierre-Pascal Urbon, Spokesman of the Managing Board and Chief Financial Officer of SMA Solar Technology AG. ‘The product mix changed accordingly, and there was increasing demand for larger inverters. Thanks to our broad product range – from Sunny Boy inverters for private photovoltaic plants to Sunny Central inverters for large-scale PV projects – and to our strong international position, we were able to serve the changed demand well.’ In the world’s largest photovoltaic market, Germany, SMA successfully maintained its position as market leader and even expanded it slightly. PV plants with a capacity of three gigawatts were constructed here during December 2011 alone. There are many different reasons for the strong growth in new installations. One significant factor is the 15 percent reduction in the feed-in tariff as of January 1, 2012. Added to this was an increased sell-off at year’s end among wholesalers in order to minimize the risk of depreciation of their inventories. The advantageous interest rate level, low system prices and unusually mild weather also promoted the additional installation. ‘We also assume that many photovoltaic plants were only commissioned commercially; the installed plants were therefore registered with the Federal Network Agency without inverters. We already see this reflected in our current business development,’ Urbon said. According to preliminary estimates by the Managing Board, SMA’s sales in the fiscal year 2011 amounted to around EUR1.7 billion. Export sales are anticipated to have increased by approx. 55 % (2010: 45 %). Project business made up about 25 % of the Group’s sales, according to initial estimates (2010: 18 %). SMA will continue its successful internationalization strategy in 2012 and will establish foreign companies in South America and Africa. The Managing Board of SMA anticipates slight growth in global demand for photovoltaic plants during the current fiscal year, but cannot exclude the possibility of a slight decline. ‘We see positive growth in 2012 in the United States, Japan and India. A reliable forecast for the global market is not currently possible, however, due to numerous changes in important markets and uncertainty caused by the current euro and financial crisis,’ Urbon emphasized. ‘We can therefore provide no sales and earnings forecast at this point for the current fiscal year.’ The SMA Managing Board is confident that thanks to the company’s high flexibility, continuous investment in research and development, innovative product portfolio and strong international position, SMA is well positioned to react quickly to all market developments and to profit from the outstanding long-term potential for growth in the promising field of photovoltaics technology. The SMA Managing Board will present the complete consolidated financial statement for the 2011 fiscal year at its press conference on the annual results on March 29, 2011 in Frankfurt/Main. The 2011 annual report will be available at www.SMA.de in the Investor Relations section.
About SMA
SMA Solar Technology AG
Head of Corporate Communication:
Press contact:
Investor Relations contact:
Julia Damm
Disclaimer:
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| 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 |
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