Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — H1 2024 Earnings Presentation
15 slides from Sma Solar Technology's earnings presentation, Aug 8, 2024
Slide 1: Analyst / Investor Presentation Financial Results H1 2024
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results H1 2024 Presented by Barbara Gregor, CFO & Jürgen Reinert, CEO August 8, 2024
Slide 2: Disclaimer
Disclaimer IMPORTANT LEGAL NOTICE This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Comp
Slide 3: Review H1 2024
Review H1 2024 SMA Solar Technology 3
Slide 4: H1 2024 Sales, EBITDA, Free Cash Flow, Order backlog
H1 2024 Sales Free-Cash-Flow €759m €-203m H1 2023: €779m H1 2023: €+81m EBITDA Order backlog €81m €1,349m H1 2023: €125m H1 2023: €2,454m SMA Solar Technology 4
Slide 5: Sales slightly below prior year with strong growth in Large Scale segment
Sales slightly below prior year level with strong revenue growth in Large Scale segment as expected Sales per region (in € million) Sales by segment (in € million) H1 2022 GW 5.8 7.2 9.1 products H1 2023 services 1 +65% H1 2024 -3% 133 3 136 779 759 Home Solutions 323 5 327 20% 103 7 110 41% 472 114
Slide 6: First half 2024 profitability driven by strong Large Scale & Project Solutions
First half 2024 profitability driven by strong performance in Large Scale & Project Solutions segment EBITDA (in € million) EBIT by Segment (in € million) Margin 3% 16% 11% H1 20232 H1 20243 +686% -36% 125 Home Solutions 93 81 -22 Commercial & 7 16 Industrial Solutions -45 H1 2022 H1 2023 H1 2024 La
Slide 7: Increased Net Working Capital decreased Net Cash in first half
As a result of increased Net Working Capital, Net Cash decreased in the first half of the year NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2023/12/31 2024/06/30 Change NWC 21% 31% Non-current assets 428 460 7% 392 588 Working capital 837 966 16% 559 712 Other assets1 74 66 -11%
Slide 8: Free Cash Flow is affected by the increase of Net Working Capital
Free Cash Flow is affected by the increase of Net Working Capital Cash Flow (in € million) H1 2023 H1 2024 Net Income 104 44 Gross Cash Flow 143 53 Cash Flow from Operating Activities 113 -174 Net Capex -32 -47 Cash inflow from divestments 0 181 Free Cash Flow2 81 -203 SMA Solar Technology 1. cash i
Slide 9: Net sales and EBIT Q2 2024 in line with expectations
Net sales and EBIT Q2 2024 in line with expectations, driven primarily by Large Scale, while Home and C&I are affected by high customer stock levels Sales per segment (in €m) Profitability per segment (in €m) 559 566 EBITDA 65 106 80 50 31 94 96 159 412 68 398 44 11 18 145 362 56 38 47 7 164 140 63
Slide 10: Current Developments
Current Developments SMA Solar Technology 10
Slide 11: SMA fuels the energy transition with cutting-edge technology in 2024
SMA fuels the energy transition with cutting-edge technology in 2024 Home Solutions Commercial & Industrial Solutions Large Scale & Project Solutions • Market entry of Sunny Boy Smart Energy & • Enhanced Commercial Solar Solution with new • Multi-flexible platform solution Sunny Central SMA eCharger
Slide 12: Outlook 2024
Outlook 2024 SMA Solar Technology 12
Slide 13: Product Order Backlog reflects current market demand
Product Order Backlog reflects current market demand with Home and C&I soft and Large Scale remaining strong Order backlog development (in €m) Order backlog by segment (in €m) and region (in %) Total order backlog: €1,349 m (June 30, 2024) 2,468 2,454 Large Scale & Project Solutions2 62 361 2,077 2,
Slide 14: SMA Managing Board confirms revised sales and earnings guidance
SMA Managing Board confirms revised sales and earnings guidance as of June 18, 2024 Guidance 2024 (in €m) Management comments 1.904 • Sales in the Large Scale & Projects Solutions segment will 1.550 – 1.700 continue to perform on high level, driven by the existing 311 high order backlog and sustaine
Slide 15: SMA Solar Technology AG contact details
SMA Solar Technology AG Sonnenallee 1 34266 Niestetal, Germany Tel. +49 561 9522 0 Fax +49 561 9522 100 www.SMA.de/en/investor-relations Investor.Relations@SMA.de SMA Solar Technology 15