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SMA Solar Technology AG: SMA Solar Technology AG's Financial Result from January to September 2014: Significant Sales Increase in Third Quarter Cannot Compensate for Low Level of Previous Months

DGAP-News: SMA Solar Technology AG / Key word(s): Quarter Results
SMA Solar Technology AG: SMA Solar Technology AG's Financial Result
from January to September 2014: Significant Sales Increase in Third
Quarter Cannot Compensate for Low Level of Previous Months

06.11.2014 / 07:00

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SMA Solar Technology AG - Corporate News

SMA Solar Technology AG's Financial Result from January to September 2014:
Significant Sales Increase in Third Quarter Cannot Compensate for Low Level
of Previous Months

Overview January to September 2014:
- 3.3 gigawatts of inverter output sold (Q1-Q3 2013: 4.0 GW)

- EUR549.3 million in sales (Q1-Q3 2013: EUR709.3 million)

- International share increased further to 72.1% (Q1-Q3 2013: 69.3%)

- Earnings before interest and taxes (EBIT) of EUR-72.7 million (Q1-Q3
2013: EUR-30.1 million)

- Net cash of EUR224.8 million (December 31, 2013: EUR308.1 million) and
equity ratio of 54.7%
(December 31, 2013: 57.5%)

- Managing Board confirms sales and earnings forecast for the current
fiscal year as adjusted
on July 30, 2014, and expects greater demand
in the fourth quarter of 2014

Niestetal, November 6, 2014 - In the third quarter of 2014, SMA Solar
Technology AG (SMA/FWB: S92) saw a considerable increase in sales compared
to the two previous quarters. With 1.3 gigawatts of inverter output sold,
the Company was nearly at the level of the good third quarter of 2013. From
January to September 2014 as a whole, however, SMA could not reach the
sales volume of the same period of the previous year due to the weak first
half of the year. In the reporting period, SMA sold PV inverters with an
output of 3.3 gigawatts (Q1-Q3 2013: 4.0 GW) and generated sales of
EUR549.3 million (Q1-Q3 2013: EUR709.3 million).

The decline in sales in the reporting period is primarily attributable to
project delays in important foreign markets and a sharp reduction in demand
in Europe as a result of a significant deterioration of subsidy conditions.
This affected Germany, Spain, Italy and Greece in particular. Demand in
Thailand also decreased as a result of subsidy cuts and political unrest.
The decline was not completely offset by stronger demand in North and South
America.

In the first nine months of the year, the international share in sales rose
to 72.1% (Q1-Q3 2013: 69.3%). The most important foreign markets for the
company included North America, Australia, Japan and Great Britain.

Earnings before interest, taxes, depreciation and amortization (EBITDA)
were positive for the first time this year in the third quarter at EUR8.8