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EQS-Ad-hoc: SMA Solar Technology AG / Key word(s): Change in Forecast/Restructure of Company
SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program
13-Nov-2024 / 22:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program
Niestetal, November 13, 2024 – The sustained market slowdown in the Home Solutions and Commercial & Industrial Solutions segments and the initiatives derived from the restructuring and transformation program announced in September 2024 are resulting in several one-off effects for this fiscal year that include inventory value adjustments as well as restructuring expenditures amounting to an estimated €100 million to €140 million. Additionally, accounting depreciation and amortization will lead to a further estimated €20 million to €30 million reduction in EBIT as part of the Annual Financial Statement. The Managing Board now expects EBITDA of between minus €20 million to €20 million and EBIT of between minus €100 million to minus €50 million. The amount of the provisions is subject to further reviews.
Due to the aforementioned market weakness, the group revenue will be slightly adjusted downwards to a range of €1,450 million euros to €1,500 million.
In addition to operational savings, the measures and envisaged cost savings amounting to €150 to €200 million will also result in necessary job cuts affecting up to 1,100 full-time positions worldwide.
Contact:
Viona Brandt
Investor Relations
viona.brandt@sma.de
Phone: +49 151 277 658 25
End of Inside Information
13-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
|
| 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: |
2029599 |
| |
| End of Announcement |
EQS News Service |
2029599 13-Nov-2024 CET/CEST
EQS-Ad-hoc: SMA Solar Technology AG / Key word(s): Change in Forecast/Restructure of Company
SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program
13-Nov-2024 / 22:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program
Niestetal, November 13, 2024 – The sustained market slowdown in the Home Solutions and Commercial & Industrial Solutions segments and the initiatives derived from the restructuring and transformation program announced in September 2024 are resulting in several one-off effects for this fiscal year that include inventory value adjustments as well as restructuring expenditures amounting to an estimated €100 million to €140 million. Additionally, accounting depreciation and amortization will lead to a further estimated €20 million to €30 million reduction in EBIT as part of the Annual Financial Statement. The Managing Board now expects EBITDA of between minus €20 million to €20 million and EBIT of between minus €100 million to minus €50 million. The amount of the provisions is subject to further reviews.
Due to the aforementioned market weakness, the group revenue will be slightly adjusted downwards to a range of €1,450 million euros to €1,500 million.
In addition to operational savings, the measures and envisaged cost savings amounting to €150 to €200 million will also result in necessary job cuts affecting up to 1,100 full-time positions worldwide.
Contact:
Viona Brandt
Investor Relations
viona.brandt@sma.de
Phone: +49 151 277 658 25
End of Inside Information
13-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
|
| 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: |
2029599 |
| |
| End of Announcement |
EQS News Service |
2029599 13-Nov-2024 CET/CEST
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