EQS-News: SMA initiates company-wide restructuring and transformation program

EQS-News: SMA Solar Technology AG / Key word(s): Restructure of Company
SMA initiates company-wide restructuring and transformation program

25.09.2024 / 21:43 CET/CEST
The issuer is solely responsible for the content of this announcement.

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SMA initiates company-wide restructuring and transformation program

Against the backdrop of a persistently challenging market environment, the
Managing Board of SMA Solar Technology AG has decided to initiate a
company-wide restructuring and transformation program aimed at increasing
efficiency and strategic focusing.

At the same time, the Managing Board is aiming to realise cost savings of an
estimated EUR 150 to 200 million. The main areas of action were discussed
with the Supervisory Board on 25 September.

In the restructuring and transformation program, measures are to be
developed for the following areas of action: (1) optimisation of the
company's cost structure, (2) adjustment of the organisational and
operational structure, and (3) strategic repositioning of the company on the
market.

‘We are convinced that the future belongs to renewable energies. To ensure
that SMA can continue to be an integral part of the global energy
transition, we must now position ourselves better and fit for the future,’
says SMA CEO Jürgen Reinert. ‘With the restructuring and transformation
program that has now been initiated, we will stabilise SMA financially in
the short term on the one hand and realign the medium and long-term business
strategy on the other. However, this will require considerable cost savings,
which will also make job cuts likely. We will carefully discuss the steps
necessary for this in the coming weeks in cooperation with the
representatives of employee co-determination.’

The program will help the company to grow profitably, even in a market
environment that remains volatile.

‘By initiating this comprehensive restructuring and transformation
programme, the Supervisory Board and Managing Board have taken an important
step towards improving SMA's ability to act,’ added SMA Chief Financial
Officer Barbara Gregor. ‘Our top priority is to increase profitability and
sustainably strengthen the company's financial stability. At the same time,
we are keeping a firm eye on the future and setting a decisive
organisational and strategic course. It will now be crucial to quickly
concretise our ambitious plans and then implement them in a disciplined and
consistent manner.’

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 charging solutions for electric
vehicles and power-to-gas applications. Digital energy services as well as
further comprehensive services round off SMA’s range. SMA solar inverters
installed worldwide in the last 20 years, with a total output of around 132
GW, help avoid over 70 million tonnes of CO2 emissions annually. 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 SDAX index and TecDAX index.


SMA Solar Technology AG

Sonnenallee 1

34266 Niestetal

Germany

Press Contact:

Dagmar Buth-Parvaresh

Tel. +49 561 9522-421414

Presse@SMA.de

Investor Relations Contact:

Viona Brandt

Tel. +49 151 277 658 25

Investor.Relations@SMA.de


Disclaimer:

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.


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25.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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: 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: 1995835



End of News EQS News Service
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1995835 25.09.2024 CET/CEST