EQS-News

SMA Group reports extraordinarily strong 2023

EQS-News: SMA Solar Technology AG / Key word(s): Annual Results SMA Group reports extraordinarily strong 2023 27.03.2024 / 06:57 CET/CEST The issuer is solely responsible for the content of this announcement. SMA Group reports extraordinarily strong 2023

• Group sales grew by 79% to €1,904.1 million
• EBITDA increased to €311.0 million; EBITDA margin significantly widened to 16%
• Extraordinary operating performance in all segments
• Guidance for fiscal year 2024 confirmed: Sales of between €1,950 million and €2,200 million and EBITDA of between €220 million and €290 million

Niestetal, March 27, 2024 – SMA Solar Technology AG (SMA/ISIN: DE000A0DJ6J9/FWB: S92) has confirmed the provisional figures for 2023 as a whole and the guidance for 2024 published on February 29, 2024. In the2023 fiscal year, consolidated sales increased by 78.6% to €1,904.1 million (2022: €1,065.9 million). The gross margin was up significantly year on year at 29.4% (2022: 21.0%), driven in particular by increased profitability in the Home Solutions segment.

EBITDA increased significantly from €70.0 million in the 2022 fiscal year to €311.0 million. This corresponds to an EBITDA margin of 16.3% (2022: 6.6%). This positive performance was driven both by persistently high demand for SMA products and by an improvement in production capacity utilization and the associated fixed cost degression as a result of the increased sales volume. EBIT climbed from €31.9 million in the 2022 fiscal year to €269.5 million (EBIT margin 2023: 14.2%; 2022: 3.0%).

Net income more than quadrupled to €225.7 million (2022: €55.8 million), driven by the positive operating performance. Inverter output sold in 2023 as a whole was 20.5 GW (2022: 12.2 GW).

At €283.3 million, net cash was significantly above the previous year‘s level (December 31, 2022: €220.1 million). The equity ratio rose to 42.3% (December 31, 2022: 41.8%).

 
Extraordinary sales and earnings in all segments

Sales in the Home Solutions segment rose by 73.2% to €580.2 million (2022: €335.0 million). The share of total sales thus amounted to 30.5% (2022: 31.4%). The EMEA region continued to account for the highest share of sales at 96.9% (2022: 86.7%). A share of 2.0% was attributable to the Americas region (2022: 8.3%) and 1.1% to the APAC region (2022: 5.0%). EBIT increased to €148.0 million (2022: €53.8 million) due to the sales growth, the associated fixed cost degression and a high-margin product mix. This corresponds to an EBIT margin of 25.5% (2022: 16.1%).