DGAP-News: SMA Solar Technology AG Registers Growth in Sales and Earnings in Third Quarter
DGAP-News: SMA Solar Technology AG
/ Key word(s): Quarter Results/9 Month figures
SMA Solar Technology AG - Corporate News SMA Solar Technology AG Registers Growth in Sales and Earnings in Third Quarter Overview January to September 2019: - Inverter output sold increased to 7.5 GW (Q1-Q3 2018: 6.2 GW) - Sales clearly above the previous year's level at EUR630.8 million (Q1-Q3 2018: EUR575.1 million) - Earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR25.7 million (Q1-Q3 2018: EUR50.5 million) - Financial stability thanks to solid equity ratio of 40.5% (December 31, 2018: 42.9%) and net cash of EUR259.1 million (December 31, 2018: EUR305.5 million) - Continued high order backlog of EUR797.0 million, of which EUR428.7 million is attributable to the product business (December 31, 2018: EUR175.4 million of product business) - Cost reduction program develops as planned - Managing Board confirms its sales and earnings guidance for the 2019 fiscal year
Net income came to -EUR10.5 million from January to September 2019 (Q1-Q3 2018: EUR8.5 million). Earnings per share thus amounted to -EUR0.30 (Q1-Q3 2018: EUR0.24). With net cash of EUR259.1 million (December 31, 2018: EUR305.5 million) and an equity ratio of 40.5% (December 31, 2018: 42.9%), SMA continues to have a solid balance-sheet structure. "In the first nine months of the year, SMA's business performance developed as anticipated by the Managing Board," said SMA Chief Executive Officer Jürgen Reinert. "After a modest development in the first half of the year, we posted significant growth in sales and earnings in the third quarter, as expected. It is particularly pleasing to see that we again generated positive EBIT from July to September for the first time since the second quarter of 2018. Order intake is also continuing to develop positively. As of September 30, 2019, SMA had a product-related order backlog of around EUR429 million. In this context, the Managing Board expects that we will reach the top quarter of our sales guidance for the 2019 fiscal year and that the good performance in the first quarter of 2020 will continue." The quarterly statement for January to September 2019 can be found 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.
07.11.2019 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: | 906637 |
End of News | DGAP News Service |
|
906637 07.11.2019
SMA Solar Technology AG Stock
With 10 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
Based on the current price of 25.16 € the target price of 80 € shows a potential of 217.97% for SMA Solar Technology AG which would more than double the current price.