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SMA Solar Technology AG: SMA Solar Technology AG Generates Positive Operating Earnings from January to September 2015

DGAP-News: SMA Solar Technology AG / Key word(s): 9-month figures
SMA Solar Technology AG: SMA Solar Technology AG Generates Positive
Operating Earnings from January to September 2015

12.11.2015 / 07:00

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SMA Solar Technology AG - Press Release

SMA Solar Technology AG Generates Positive Operating Earnings from January
to September 2015

Overview January to September 2015:
- Sales increase by approximately 27% to EUR699.2 million (Q1-Q3 2014:
EUR549.3 million)

- International share rises significantly to 86.7% (Q1-Q3 2014: 75.9%)

- Positive operating earnings (EBIT) of EUR3.4 million (Q1-Q3 2014:
EUR-72.7 million)

- Net cash increases to EUR250.6 million (December 31, 2014: EUR225.4
million) despite severance payments

- Equity ratio still high at 46.7% (December 31, 2014: 46.8%)

- Managing Board confirms raised sales and earnings guidance for fiscal
year 2015

Niestetal, November 12, 2015 - From January to September 2015, SMA Solar
Technology AG (SMA/FWB: S92) recorded good results, which included an
increase in sales of 27.3% to EUR699.2 million (Q1-Q3 2014: EUR549.3
million). Sales were mainly driven by the large-scale PV power plant
segment (Utility). At the same time, the residential PV system and
commercial PV system segments as well as service business also posted sales
growth. A high international share of sales of 86.7% (Q1-Q3 2014: 75.9%)
reflects SMA Group's outstanding international position. The most important
foreign markets in the reporting period were North America, Japan, Great
Britain and Australia. SMA sold PV inverters with an output of 5.0 GW in
the first nine months of the year (Q1-Q3 2014: 3.3 GW). This is nearly as
much as in all of last year.

As a result of increased sales volumes, reduced fixed costs and positive
exchange rate effects, EBITDA improved considerably to EUR58.9 million
(Q1-Q3 2014: EUR-8.2 million). From January to September 2015, SMA
generated positive earnings before interest and taxes (EBIT) of EUR3.4
million after negative earnings in the same period of the previous year
(Q1-Q3 2014: EUR-72.7 million).

Despite severance payments in the wake of staff reductions, gross cash flow
improved considerably in the reporting period to EUR26.4 million (Q1-Q3
2014: EUR-46.1 million). Net cash increased to EUR250.6 million (December
31, 2014: EUR225.4 million). With an equity ratio of 46.7% (December 31,
2014: 46.8%), SMA remains financially sound and is therefore able to
implement the company strategy from its own resources.

"SMA completed the turnaround earlier than expected having already