DGAP-News: SMA Solar Technology AG / Key word(s): Quarterly / Interim Statement/Quarter Results 
SMA Solar Technology AG significantly increases profitability in the first quarter of 2021 
2021-05-12 / 07:00 
The issuer is solely responsible for the content of this announcement. 
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SMA Solar Technology AG corporate news 
SMA Solar Technology AG significantly increases profitability in the first quarter of 2021 
Overview of Q1 2021: 
- 3.4 GW inverter output sold (Q1 2020: 4.4 GW) 
- Sales of EUR240 million (Q1 2020: EUR288 million) 
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to EUR20 million 
(Q1 2020: EUR12 million) 
- Equity ratio still high at 42% (December 31, 2020: 42%) 
- Managing Board confirms sales and earnings guidance for fiscal year 2021 
Niestetal, May 12, 2021 - SMA Solar Technology AG (SMA/FWB: S92) achieved a considerably better operating result from 
January to March 2021 than in the first three months of the previous year. EBITDA increased significantly to EUR20.1 
million (EBITDA margin: 8.4%; Q1 2020: EUR12.3 million, 4.3%). In the first quarter, the SMA group sold inverters with an 
accumulated output of around 3.4 GW and generated sales of EUR240.4 million (Q1 2020: EUR287.9 million). The lower sales 
year on year resulted mainly from the postponement of orders due to the global coronavirus pandemic and an increase in 
the price of PV modules. In addition, sales in the first quarter of the previous year included an unusually large 
project in the U.S. The previous year's quarter is therefore suitable only to a limited extent as a reference period. 
Net income improved to EUR8.0 million (Q1 2020: -EUR0.3 million). Earnings per share thus increased to EUR0.23 (Q1 2020: 
-EUR0.01). At EUR226.7 million, net cash remained at the same high level as at the end of the previous year (December 31, 
2020: EUR226.0 million). The equity ratio also remained constant at 41.7% (December 31, 2020: 41.8%). In addition, SMA 
has a credit line of EUR100 million from domestic banks. 
"Despite weaker demand due to project postponements, we achieved a considerably better operating result in the first 
quarter of 2021 than in the same period of the previous year," said SMA Chief Executive Officer Jürgen Reinert. "To 
further support our profitability, we also intend to continue optimizing our product portfolio and reducing costs over 
the coming months. Furthermore, against a background of greater vaccination coverage and reduced economic uncertainty, 
especially in the second half of the year, we expect an increase in demand in our core markets in Europe and the U.S. 
The most recent political signals are extremely encouraging for medium- to long-term market developments. The EU has 
confirmed its commitment to a 55% reduction in greenhouse gases by 2030. For the U.S., President Biden has announced an 
infrastructure program entailing major investment in a more climate-friendly economy. At Biden's climate summit, not 
only the U.S. but also many other major national economies pledged to ramp up their climate targets. Following the 
ruling of the Federal Constitutional Court concerning climate protection law, the German Federal Government has now 
also announced that it will - among other things - increase the installation targets for renewable energies, thus 
making good on a demand that we also made some time ago. To achieve a secure, climate-friendly electricity supply, we 
need at least 15 GW of new PV generation capacity in Germany every year." 
SMA's Managing Board is keeping a close eye on the currently tight situation in the supply of electronic components. So 
far, there has not been any impact on output quantities. The Managing Board will also closely monitor ongoing 
developments relating to the coronavirus to ensure it can respond quickly and flexibly to any sudden increases in 
demand. The SMA Managing Board confirms its sales and earnings guidance for the 2021 fiscal year as published on 
February 5, 2021, which forecasts an increase in sales to between EUR1,075 million and EUR1,175 million and EBITDA of 
between EUR75 million and EUR95 million. The Managing Board assumes that SMA can strengthen its position in key markets 
over the course of the year and benefit from the expected growth of the PV markets in Europe and America as well as 
that of the global storage market. The continuous improvement of the product portfolio and the implementation of 
further cost reduction measures will continue to support SMA's profitability. 
The quarterly statement for January to March 2021 can be found at www.SMA.de/IR/FinancialReports. SMA's virtual Annual 
General Meeting will be held on June 1, 2021. 
 
About SMA 
As a leading global specialist in photovoltaic and storage system technology, the SMA Group is setting the standards 
today for the decentralized and renewable energy supply of tomorrow. SMA's portfolio contains a wide range of efficient 
PV and battery inverters, holistic system solutions for PV and battery-storage systems of all power classes, 
intelligent energy management systems and complete solutions for PV diesel hybrid applications. Digital energy services 
as well as extensive services up to and including operation and maintenance services for PV power plants round off 
SMA's range. SMA inverters with a total output of more than 100 gigawatts have been installed in more than 190 
countries worldwide. SMA's multi-award-winning technology is protected by more than 1,600 patents and utility models. 
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 is listed 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 
Presse@SMA.de 
Disclaimer: 
This corporate news 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 corporate news 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. 
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2021-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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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:  1195408 
 
End of News   DGAP News Service 
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1195408 2021-05-12


 
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May 12, 2021 01:01 ET (05:01 GMT)