DGAP-Adhoc: SMA Solar Technology AG: Managing Board of SMA

SMA Solar Technology AG / Key word(s): Profit Warning 30.07.2014 10:27 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc notification from SMA Solar Technology AG Managing Board of SMA Solar Technology AG Lowers Forecast for the Current Fiscal Year Niestetal, July 30, 2014-The Managing Board of SMA Solar Technology AG (SMA/FWB: S92) expects to see a stagnation in the worldwide demand for PV systems in the current fiscal year. Particularly in the core markets in Europe demand has collapsed even further than expected. In addition, cut-throat competition is keeping pricing pressure high in the industry. As a result, today the Managing Board decided today to adjust its sales and earnings forecast for 2014. For the current fiscal year, the SMA Managing Board expects sales of between EUR850 million and EUR950 million (previously: EUR1.0 billion to EUR1.3 billion). A loss cannot be further ruled out in the current fiscal year. The Managing Board expects to break even at best. At the lower end of the sales forecast, the Managing Board is expecting losses of approximately EUR45 million (previously: operational profit of EUR20 million in the best-case scenario). SMA will continue to optimize its product portfolio and take advantage of the synergies resulting from its strategic alliance with Danfoss in order to return to sustained profitability. In addition, the company will focus on strategically important development projects and reduce the development budget to EUR90 million p.a. by the end of 2015. SMA will step up efforts to lower production costs for its existing product portfolio and will also take advantage of the development and purchasing capabilities of its Chinese subsidiary Zeversolar. SMA will also bring together sales regions and streamline the organization in Service, Operations and Administration. The company is planning to lay off approximately 600 employees. With the planned countermeasures, the SMA Managing Board is convinced that the necessary conditions have been created in order to generate attractive margins in the future even in a challenging marketplace. Additionally, the Managing Board also anticipates a slight increase in our market share for 2014 to more than 15% worldwide. End of ad hoc notification About SMA The SMA Group generated sales of more than EUR930 million in 2013 and is the global market leader for solar inverters, a key component of all PV plants. SMA offers innovative key technologies for future power supply structures. It is headquartered in Niestetal, near Kassel, Germany, and is represented in 21 countries. The Group employs more than 5,000 people worldwide. SMA's broad product portfolio includes a compatible inverter for every type of module on the market and for all plant sizes. The product range includes both inverters for grid-connected photovoltaic plants as well as off-grid and hybrid system technology. The product portfolio is supplemented by comprehensive services and operational management of utility-scale pv-plants. Since 2008, the Group's parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and also in the TecDAX index. SMA Solar Technology AG Sonnenallee 1 34266 Niestetal Germany Head of Corporate Communications: Anja Jasper Tel.: +49 561 9522-2805 Presse@SMA.de Press contact: Susanne Henkel Manager Corporate Press Tel.: +49 561 9522-1124 Fax +49 561 9522-421400 Presse@SMA.de Investor Relations contact: Julia Rother Investor Relations Tel. +49 561 9522-2222 Fax +49 561 9522-2223 IR@SMA.de Disclaimer: This ad hoc notification serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Company (together with the Company, the "SMA Group") nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. This ad hoc notification can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments. 30.07.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------