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

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News Desk 2018

Jan 26, 2015 at 3:30 PM

DGAP-Adhoc: SMA Solar Technology AG: Managing Board of SMA Anticipates Difficult Fiscal Year 2015 and Plans Global Staff Reductions

SMA Solar Technology AG / Key word(s): Miscellaneous 26.01.2015 21:15 Dissemination of an Ad hoc announcement according to Â§ 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 Anticipates Difficult Fiscal Year 2015 and Plans Global Staff Reductions Niestetal, January 26, 2015-The Managing Board of SMA Solar Technology AG (SMA/FWB: S92) is anticipating a difficult fiscal year 2015 and a decline in sales. Against this background, the Managing Board plans to cut approximately 1,600 full-time positions in all functional areas worldwide by June 30, 2015 based on the total of 4,667 full-time positions (without temporary employees) as of December 31, 2014. Approximately 1,300 full-time positions in Germany and approximately 300 full-time positions at SMA's international locations are affected. The cutback targets of over 600 full-time positions that were announced last year are included in these figures. The Managing Board expects to see a great deal of price pressure on the global photovoltaic market still in the coming years and a further decline in demand in Europe, particularly in Germany. By contrast, the non-European markets will develop positively. This means, that although the market measured in gigawatts will continue to grow in the medium term, the company expects to see a global decline when measured in euros. To return to profitability in this environment, SMA will adjust its structures to the lower sales level. The Managing Board and the Works Council will discuss the necessary measures and layoffs in the coming weeks. However, the effects of these measures will not emerge until the second half of the year at the earliest, meaning that SMA will probably not yet return to profitability in the current fiscal year With net cash of approximately EUR220 million, SMA will be able to finance the transformation and the strategy with its own resources. 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 PV inverters, a key component of all PV plants, and 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 PV system sizes. The product range includes system technologies for grid-connected photovoltaic systems as well as off-grid and hybrid systems. The service portfolio is supplemented by comprehensive services and operational management of large-scale PV power 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 Phone: +49 561 9522-2805 Presse@SMA.de Press contact: Susanne Henkel Manager Corporate Press Phone: +49 561 9522-1124 Fax: +49 561 9522-421400 Presse@SMA.de Contact for Investor Relations: Julia Rother Manager Investor Relations Phone: +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. This ad hoc notification may 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 that the Executive 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, financial position, development or Company performance and the estimates given here. These factors include those that 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 in accordance with the actual outcomes or developments of previously made future-oriented statements. 26.01.2015 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, DÃ¼sseldorf, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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