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sma solar technology-un adr (SMTGY) Details

SMA Solar Technology AG develops, produces, and distributes solar inverters worldwide. Its Medium Power Solutions segment develops, produces, and distributes system technology for photovoltaic (PV) applications in the grid-tied building and commercial field. This segment offers inverters and communication products under the Sunny Boy, Sunny Mini Central, Sunny Tripower, and Sunny Island names. This segment also develops and distributes products used for monitoring PV systems and energy management; and produces transformers, chokes, and coils. The company’s Power Plant Solutions segment offers central inverters and system solutions for large-scale PV power plants under the Sunny Central name. Its Services segment provides services, including warranty extensions, service and maintenance contracts, operational management, remote system monitoring, and spare parts. The company’s Zeversolar segment offers string inverters. Its Railway Technology segment provides converters as individual devices; complete energy supply systems for railway coaches; and multiple-unit trains for short and long-distance railway traffic. The company was formerly known as SMA Technologie AG and changed its name to SMA Solar Technology AG in June 2008. SMA Solar Technology AG was founded in 1981 and is headquartered in Niestetal, Germany.

5,065 Employees
Last Reported Date: 11/6/14
Founded in 1981

sma solar technology-un adr (SMTGY) Top Compensated Officers

Chief Executive Officer and Member of Managem...
Total Annual Compensation: €350.0K
Chief Financial, Legal, Compliance, Human Res...
Total Annual Compensation: €350.0K
Executive Vice President of European Sales
Total Annual Compensation: €350.0K
Senior Vice President
Total Annual Compensation: --
Chief Technology Officer and Member of Manage...
Total Annual Compensation: €350.0K
Compensation as of Fiscal Year 2013.

sma solar technology-un adr (SMTGY) Key Developments

SMA Solar Technology AG Reports Earnings Results for the Third Quarter and Nine Months Ended September 2014 ; Provides Earnings Guidance for the Year 2014

SMA Solar Technology AG reported earnings results for the third quarter and nine months ended September 2014. In the third quarter of 2014, the company 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. EBITDA was positive for the first time this year in the third quarter at EUR 8.8 million (third quarter of 2013: EUR 12.7 million). The improvement in earnings is attributable to the measures introduced to reduce material and operating costs. The staff reduction that has already been completed was also reflected in earnings. Due to the weak order situation and the high price pressure in the first half of the year. From January to September 2014 as a whole, however, the company 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, the company sold PV inverters with an output of 3.3 gigawatts (first nine months of 2013: 4.0 GW) and generated sales of EUR 549.3 million (first nine months of 2013: EUR 709.3 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. The company posted negative EBITDA of EUR 8.2 million in the reporting period (first nine months of 2013: negative EBITDA of EUR 26.9 million). In the reporting period, LBIT fell to EUR 72.7 million (first nine months of 2013: EBIT of EUR 30.1 million). This corresponds to a LBIT margin of 13.2% (first nine months of 2013: 4.2%). The consolidated loss for the period amounted to EUR 54.1 million (first nine months of 2013: loss of EUR 22.0 million). The company managing board confirmed its sales and earnings forecast for fiscal year 2014 as adjusted on July 30, 2014. It predicts sales of EUR 850 million to EUR 950 million for the company. In the best-case scenario, the managing board also expected to break even in terms of operating earnings. At the lower end of the sales forecast, the company managing board anticipated a loss of approximately EUR 45 million. To achieve the lower end of the sales forecast, the contracts expected to be concluded in the project business in the fourth quarter would have to be turned around in the current fiscal year. The company managing board also expected commercial business to pick up as usual toward the end of the year. The earnings forecast does not take into account any non-recurring expenses from the staff reduction announced on July 30, 2014.

SMA Solar Technology AG Supplies System Technology for PV-Diesel Hybrid Power Plant

The world's large PV-diesel hybrid power plant with battery storage system is currently being built in the Bolivian province of Pando. SMA Solar Technology AG (SMA) is not only supplying photovoltaic inverters for this project, but is also providing an SMA Fuel Save Controller for demand-driven control of solar power feed-in, as well as four newly developed inverters for large-scale battery storage systems that use lithium-ion technology. This PV-diesel hybrid power plant with battery storage system and an output of approximately 5 MW is designed to generate enough clean solar power to cover about half of the energy demand in the provincial capital of Cobija and neighboring towns in northern Bolivia. The residents and companies of this area consume about 37 GWh of energy per year-and at a rate that is only increasing. Since the region is not connected to the public utility grid, power for the local grid has been produced exclusively with diesel generators. SMA is supplying six Sunny Central 800CP-XT inverters, four Sunny Central Storage 630 battery inverters and an SMA Fuel Save Controller as the central component of the hybrid system. The general contractor (EPC) for the project is Isotron S.A.U. (ISASTUR Group). The Bolivian electric utility company ENDE (Empresa Nacional de Electricidad) owns the power plant while the company Electrica Guarachi S.A. is tasked with project management.

SMA Solar Technology AG Announces Consolidated Financial Results for the Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Year of 2014

SMA Solar Technology AG announced consolidated financial results for the six months ended June 30, 2014. For the period, the company reported generated sales of EUR 341.2 million against EUR 461.5 million a year ago. The main reasons for the decline in sales were the slump in demand in Europe and the high price pressure. Due to low sales and the further decline in selling prices, loss before interest and taxes (LBIT) fell to EUR 62.4 million against EUR 23.3 million a year ago. The consolidated loss for the period amounted to EUR 44.9 million against EUR 16.2 million a year ago. The SMA Managing Board confirms its sales and earnings forecast for the 2014 fiscal year amended on July 30, 2014. It predicts sales of EUR 850 million to EUR 950 million for the SMA Group. In the best-case scenario, the Managing Board also expects to break even in terms of operating earnings. At the lower end of the sales forecast, the Managing Board anticipates a loss of approximately EUR 45 million. The earnings forecast does not take account of any non-recurring expenses from the reduction of 600 staff members announced on July 30, 2014.

 

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