DGAP-News: SMA Solar Technology AG generates 23% sales growth and positive earnings from January to September 2020 despite coronavirus crisis
DGAP-News: SMA Solar Technology AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
SMA Solar Technology AG corporate news SMA Solar Technology AG generates 23% sales growth and positive earnings from January to September 2020 despite coronavirus crisis Overview of Q1-Q3 2020: - Inverters with a total output of 10.7 GW sold (Q1-Q3 2019: 7.5 GW) - Sales increased to €774 million (Q1-Q3 2019: €631 million) and EBITDA to €41 million (Q1-Q3 2019: €26 million) - Financial stability thanks to solid equity ratio of 43% (December 31, 2019: 38%) - Order backlog remains high despite coronavirus crisis at €792 million, with €332 million attributable to product business - Managing Board confirms sales and earnings guidance for fiscal year 2020
With €9 million, SMA generated considerably better net income from January to September 2020 than in the previous year (Q1-Q3 2019: -€11 million). Earnings per share thus amounted to €0.27 (Q1-Q3 2019: -€0.30). With net cash of €194 million (December 31, 2019: €303 million) and an equity ratio of 43% (December 31, 2019: 38%), SMA has a solid balance-sheet structure. "The effects of the global coronavirus crisis have also posed major challenges to SMA over the past nine months," said SMA CEO Jürgen Reinert. "I am therefore all the more pleased that, in spite of the declining market, we generated significant growth in sales and earnings and thus gained market share. This was thanks to both our employees' strong commitment and to continuous close collaboration with our customers and suppliers. We are monitoring the development of the coronavirus crisis very closely so that we can continue to react quickly at all times. As before, the Managing Board expects SMA to achieve its sales and earnings guidance in the current fiscal year. In the long term, we see great potential for SMA in the global restructuring of the economy toward more sustainability and ultimately climate neutrality. Germany should set a good example. The upcoming amendment of the Renewable Energy Sources Act must therefore be used to speed up the urgently needed installation of photovoltaic capacity. Supporting self-consumption of affordable and clean solar energy by private and commercial users plays a key role here." The sales and earnings guidance of the Managing Board for fiscal year 2020, published on February 7, 2020, predicts a sales increase to between €1.0 billion and €1.1 billion and EBITDA between €50 million and €80 million. The Managing Board believes that SMA is well positioned to gain further market share even in the current circumstances. The quarterly statement for January to September 2020 is available online at www.SMA.de/IR/FinancialReports.
Head of Corporate Communications: Disclaimer: 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 Managing 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.
12.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | [email protected] |
Internet: | http://www.sma.de |
ISIN: | DE000A0DJ6J9 |
WKN: | A0DJ6J |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1147365 |
End of News | DGAP News Service |
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1147365 12.11.2020
SMA Solar Technology AG Aktie
Positive Stimmung für SMA Solar Technology AG mit mehreren Buy- gegenüber Sell-Einschätzungen.
Bei einem durchschnittlichen Kursziel von 72 € für SMA Solar Technology AG, wäre dies mehr als eine Verdopplung des aktuellen Kurses von 20.5 €.