SMA Solar Technology AG Announces First Quarter 2019 Results

منشور على 10-5-2019
SMA 
Overview Q1 2019:

- Inverter output sold at same level as previous year with 1.8GW (Q1 2018: 1.8 GW)
- Sales of EUR167.8 million (Q1 2018: EUR182.5 million) and EBITDA of EUR0.6 million (Q1 2018: EUR17.5 million) in line with the Managing Board's guidance
- Financial stability thanks to solid equity ratio of 42.2% (December 31, 2018: 42.9%) and high net cash of EUR290.3 million (December 31, 2018: EUR305.5 million)
- High order backlog of EUR619.8 million, of which EUR233.2 million is attributable to the product business
- Cost reduction program develops as planned
- Managing Board confirms its sales and earnings guidance for fiscal year 2019

In the first quarter of 2019, SMA Solar Technology AG sold PV inverters with a total output of around 1.8GW (Q1 2018: 1.8GW). Sales decreased by 8.1% compared with the first three months of the previous year to EUR167.8 million (Q1 2018: EUR182.5 million). This is attributable in particular to the still weak project business in the first quarter, whereas sales with string inverters was on a par with the previous year. From January to March 2019, EBITDA amounted to EUR0.6 million (EBITDA margin: 0.4%; Q1 2018: EUR17.5 million, 9.6%). Sales and earnings in the first quarter were in line with the Managing Board's guidance published on March 28, 2019. Order intake developed positively in all segments in the first quarter. On this basis, the Managing Board is expecting a significant increase in sales and earnings particularly in the second half of the year.

Net income amounted to -EUR10.6 million in the first quarter of 2019 (Q1 2018: EUR 2.8 million). Earnings per share thus amounted to -EUR0.30 (Q1 2018: EUR0.08). With net cash of EUR290.3 million (December 31, 2018: EUR305.5 million) and an equity ratio of 42.2% (December 31, 2018: 42.9%), SMA continues to have a solid balance-sheet structure.

"In the first quarter of 2019, SMA's sales and earnings remained down year on year, as the Management Board had predicted," said SMA Chief Executive Officer Jürgen Reinert. "At the same time, order intake has developed particularly well in all segments in recent months. As of March 31, our product-related order backlog rose by 33% to EUR233.2 million compared to the end of the previous year. In the utility segment in particular, we are experiencing an extremely positive development, which will have an impact on sales and earnings in the second half of the year. The implementation of our measures to reduce SMA's costs by approximately EUR40 million per year is progressing as planned. With our SMA Energy Systems, we are also positioning ourselves as a system provider with perfectly matched and modularly extendable photovoltaic, storage and digital energy solutions for residential, commercial and industrial applications, thus opening up further sales potential."

The SMA Managing Board confirms its sales and earnings guidance for the 2019 fiscal year, which forecasts sales of between EUR800 million and EUR880 million and EBITDA of between EUR20 million and EUR50 million. The Managing Board estimates that depreciation and amortization will amount to approximately EUR50 million.


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SMA (مكونات أنظمة الطاقة الشمسية): https://ar.enfsolar.com/sma
SMA (برمجيات): https://ar.enfsolar.com/sma
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