The shareholders of SMA Solar Technology AG (SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory Board for the 2015 fiscal year with a clear majority of over 99% at today’s Annual General Meeting 2016 in Kassel. The remaining agenda items also received the majority approval of the Annual General Meeting. More than 400 shareholders were in attendance and 85% of those with voting rights were present. The Annual General Meeting followed the suggestion of the Managing Board and Supervisory Board and approved the payout of a dividend of €0.14 per qualifying bearer share for the 2015 fiscal year.
“2015 was a challenging and eventful year for SMA,” explained SMA CEO Pierre-Pascal Urbon. “However, in a persistently difficult market environment, we returned to sustainable profitability faster than expected. Our shareholders will participate in this success by receiving a dividend. SMA is the only listed solar company in Germany that is paying out a dividend for the past fiscal year.” With sales of around €1 billion and earnings before interest and taxes (EBIT) of €34.3 million, SMA significantly exceeded the Managing Board’s original forecast in 2015. Consolidated net income amounted to €14.3 million. With a payout totaling €4.9 million, the payout ratio in relation to consolidated net profit amounts to 34.3% and is thus within the range of 20% to 40% announced by the Managing Board. The depository banks will begin dividend payments on June 1, 2016.
In his speech, Pierre-Pascal Urbon criticized the intended amendment to the Renewable Energy Sources Act (EEG) by the German Federal Government and the plans the German Federal Ministry of Finance has for taxing self-consumption of solar power. He called on the German Federal Ministry of Finance to remove the bureaucratic constraints on the bidding process for PV systems on building walls and roofs and to develop a plan to ensure that the photovoltaic expansion target set by politicians is achieved this year. “The energy transition in Germany cannot succeed in these constantly deteriorating conditions. After we have already lost our world-leading role in photovoltaics, the current political debate poses a risk to compliance with the climate protection targets agreed upon in Paris and to the possibility to create new business models,” said Urbon.
The SMA Managing Board is adhering to its sales and earnings forecast for the 2016 fiscal year. This forecast anticipates sales of €950 million to €1,050 million and a significant increase in EBIT to between €80 million and €120 million.
The SMA Group with sales of about €1 billion in 2015 is the global market leader for solar 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 20 countries. The Group employs more than 3,000 people worldwide. SMA has an extensive range of products, which offers the right inverters for all module types and plant sizes; for small residential systems as well as large-scale plants, grid-connected photovoltaic systems as well as off-grid and hybrid systems. Moreover, SMA offers system technology for various battery technologies and system sizes and collaborates with renowned battery manufacturers and companies from the automotive industry. The SMA technology is protected by about 700 patents and utility models worldwide. The range of services 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 is currently the only company in the solar industry that is listed in the TecDAX index.
SMA Solar Technology AG
Head of Corporate Communications:
Tel.: +49 561 9522-2805
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400
This press release 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 press release 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.