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DGAP-News: Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to the Managing Board and Supervisory Board with a Clear Majority

DGAP-News: SMA Solar Technology AG / Key word(s): AGM/EGM

Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to

the Managing Board and Supervisory Board with a Clear Majority

The issuer is solely responsible for the content of this announcement.

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Annual General Meeting of SMA Solar Technology AG Grants Full Discharge to

the Managing Board and Supervisory Board with a Clear Majority

Niestetal, May 28, 2019 – The shareholders of SMA Solar Technology AG

(SMA/FWB: S92) granted full discharge to the Managing Board and Supervisory

Board for the 2018 fiscal year with a clear majority of over 99% and over

97% respectively at todays Annual General Meeting in Kassel. The remaining

agenda items also received the majority approval of the Annual General

Meeting. Approximately 250 shareholders attended the 2019 Annual General

Meeting of SMA Solar Technology AG and 86% of those with voting rights were

The Annual General Meeting accepted the proposal of the Managing Board and

Supervisory Board that no dividend be distributed for the 2018 fiscal year.

SMA achieved sales of EUR760.9 million and EBITDA of EUR-69.1 million in

2018. \2018 was a difficult year for SMA,\ explained SMA Chief Executive

Officer, Jrgen Reinert. \We were confronted by many challenges including a

shortage of components, increased price pressure as a result of the

internationalization of Chinese competitors, project delays and storage

system bottlenecks. This all resulted in a negative net income. To preserve

our high net liquidity and be in a position to fund SMAs further

development as a system and solution provider from our own resources, the

SMA Managing Board and Supervisory Board have rejected the option of a

dividend payment from the companys assets. Our shareholders supported this

position at the Annual General Meeting.\

After comparatively low sales figures in the first quarter of 2019, the SMA

Managing Board is expecting sales and earnings to significantly increase in

the second half of the year. \The market situation has considerably

improved,\ said Reinert. \In addition, our increased marketing and sales

activities are paying off. We are reporting a very high order intake at the

moment, especially in the project business. There is also a positive trend

in the segments for residential and commercial PV systems. Since the end of

March, our product-related order backlog has risen again by 80% to over

EUR420 million. With this order backlog and the sales we have generated in

the year to date, we can already achieve more than 75% of our annual sales

Against this backdrop, the SMA Managing Board is confirming its sales and

earnings guidance for the 2019 fiscal year, which forecasts sales of between

EUR800 million and EUR880 million and EBITDA of between EUR20 million and

EUR50 million. The Managing Board estimates that depreciation and

amortization will amount to approximately EUR50 million.

The presentation and the speech given by the Managing Board, along with

further information on the Annual General Meeting, can be found online at

As a leading global specialist in photovoltaic system technology, the SMA

Group is setting the standards today for the decentralized and renewable

energy supply of tomorrow. SMAs portfolio contains a wide range of

efficient PV inverters, holistic system solutions for PV systems of all

power classes, intelligent energy management systems and battery-storage

solutions as well as 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 SMAs

range. SMA inverters with a total output of around 75 gigawatts have been

installed in more than 190 countries worldwide. SMAs multi-award-winning

technology is protected by more than 1,300 patents and utility models. Since

2008, the Groups parent company, SMA Solar Technology AG, has been listed

on the Prime Standard of the Frankfurt Stock Exchange (S92) and is listed in

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

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 The company accepts no obligation whatsoever to

update these future-oriented statements or to adjust them to future events

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28.05.2019 Dissemination of a Corporate News, transmitted by DGAP – a

The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,

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Listed: Regulated Market in Frankfurt (Prime Standard);

Regulated Unofficial Market in Berlin, Dusseldorf,

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Your Community Portal for PV Systems. Monitoring and comparing PV systems, knowledge sharing.

The info portal for all SMA plant operators allows you to view and monitor data, access documents and receive status updates.

The free-access SMA image portal for pictures about the solar industry and renewable energy.

The SMA partner portal for suppliers and anyone interesting in becoming a supplier.

SMA Solar Technology AG Data Protection Declaration

Terms and Conditions of Participation of the SMA Solar Academy

Your Community Portal for PV Systems. Monitoring and comparing PV systems, knowledge sharing.

The info portal for all SMA plant operators allows you to view and monitor data, access documents and receive status updates.

The free-access SMA image portal for pictures about the solar industry and renewable energy.

The SMA partner portal for suppliers and anyone interesting in becoming a supplier.

SMA Solar Technology AG Data Protection Declaration

Terms and Conditions of Participation of the SMA Solar Academy