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SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG Discharges Managing Board

DGAP-News: SMA Solar Technology AG / Key word(s): AGM/EGM
SMA Solar Technology AG: Annual General Meeting of SMA Solar Technology AG
Discharges Managing Board

31.05.2016 / 15:49
The issuer is solely responsible for the content of this announcement.

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SMA Solar Technology AG - Corporate News

Annual General Meeting of SMA Solar Technology AG Discharges Managing Board
and Supervisory Board and Approves Dividend

Niestetal, May 31, 2016 - The shareholders of SMA Solar Technology AG (SMA/
FWB: S92) granted full discharge to the Managing Board and Supervisory
Board for the 2015 fiscal year with a clear majority of over 99% at today's
Annual General Meeting 2016 in Kassel. The remaining agenda items also
received the majority approval of the Annual General Meeting. More than 400
shareholders were in attendance and 85% of those with voting rights were
present. The Annual General Meeting followed the suggestion of the Managing
Board and Supervisory Board and approved the payout of a dividend of
EUR0.14 per qualifying bearer share for the 2015 fiscal year.

"2015 was a challenging and eventful year for SMA," explained SMA CEO
Pierre-Pascal Urbon. "However, in a persistently difficult market
environment, we returned to sustainable profitability faster than expected.
Our shareholders will participate in this success by receiving a dividend.
SMA is the only listed solar company in Germany that is paying out a
dividend for the past fiscal year." With sales of around EUR1 billion and
earnings before interest and taxes (EBIT) of EUR34.3 million, SMA
significantly exceeded the Managing Board's original forecast in 2015.
Consolidated net income amounted to EUR14.3 million. With a payout totaling
EUR4.9 million, the payout ratio in relation to consolidated net profit
amounts to 34.3% and is thus within the range of 20% to 40% announced by
the Managing Board. The depository banks will begin dividend payments on
June 1, 2016.

In his speech, Pierre-Pascal Urbon criticized the intended amendment to the
Renewable Energy Sources Act (EEG) by the German Federal Government and the
plans the German Federal Ministry of Finance has for taxing self-
consumption of solar power. He called on the German Federal Ministry of
Finance to remove the bureaucratic constraints on the bidding process for
PV systems on building walls and roofs and to develop a plan to ensure that
the photovoltaic expansion target set by politicians is achieved this year.