EQS-Adhoc
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SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program
- SMA lowers sales and earnings guidance due to market slowdown.
- Restructuring costs estimated at €100-140 million this year.
- Job cuts may affect up to 1,100 positions globally.
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EQS-Ad-hoc: SMA Solar Technology AG / Key word(s): Change in Forecast/Restructure of Company SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program |
Niestetal, November 13, 2024 – The sustained market slowdown in the Home Solutions and Commercial & Industrial Solutions segments and the initiatives derived from the restructuring and transformation program announced in September 2024 are resulting in several one-off effects for this fiscal year that include inventory value adjustments as well as restructuring expenditures amounting to an estimated €100 million to €140 million. Additionally, accounting depreciation and amortization will lead to a further estimated €20 million to €30 million reduction in EBIT as part of the Annual Financial Statement. The Managing Board now expects EBITDA of between minus €20 million to €20 million and EBIT of between minus €100 million to minus €50 million. The amount of the provisions is subject to further reviews.
Due to the aforementioned market weakness, the group revenue will be slightly adjusted downwards to a range of €1,450 million euros to €1,500 million.
In addition to operational savings, the measures and envisaged cost savings amounting to €150 to €200 million will also result in necessary job cuts affecting up to 1,100 full-time positions worldwide.
Contact:
Viona Brandt
Investor Relations
Phone: +49 151 277 658 25
End of Inside Information
13-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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: | info@sma.de |
| Internet: | http://www.sma.de |
| ISIN: | DE000A0DJ6J9 |
| WKN: | A0DJ6J |
| Indices: | SDAX, TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2029599 |
| End of Announcement | EQS News Service |
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2029599 13-Nov-2024 CET/CEST
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