Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — Q3 2023 Earnings Presentation
14 slides from Sma Solar Technology's earnings presentation, Nov 9, 2023
Slide 1: Analyst / Investor Presentation: Quarterly Financial Results January to September 2023
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Quarterly Financial Results: January to September 2023 Presented by Barbara Gregor, CFO November 9th, 2023 SMA Solar Technology 1
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 9M 2023
Review 9M 2023 SMA Solar Technology 3
Slide 4: 9M 2023 key figures: sales, EBITDA, free cash flow, order backlog
9M 2023 Sales Free-Cash-Flow €1,337m €79m Increase of 85% to 9M 2022 positive EBITDA Order backlog €231m €2,021m Increase of 361% Increase of 18% to 9M 2022 to 9M 2022 SMA Solar Technology 4
Slide 5: After a strong Q3, 9M 2023 sales continue significant growth in all three segments
After a strong Q3, 9M 2023 sales continue significant growth in all three segments Sales per region (in € million) Sales by segment (in € million) 9M 2022 GW 12.2 8.7 12.9 products services 1 9M 2023 +85% 1,337 222 7 229 Home Solutions 22% 479 7 486 1,066 Americas 24% 724 Commercial & 186 5 191 26%
Slide 6: Profitability significantly increased compared to 2022 in all three segments
Profitability significantly increased compared to 2022 in all three segments and C&I and Large Scale clearly in the black as expected EBITDA (in € million) EBIT by Segment (in € million) Margin 7% 9M 2022 7% 17% 9M 2023 +361% 231 Home Solutions 35 137 70 50 Commercial & -17 Industrial Solutions 16 2
Slide 7: SMA continues to maintain a highly robust financial position with Net Cash over 300m€
SMA continues to maintain a highly robust financial position with Net Cash of over 300m€ and a high equity ratio of over 40% NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2022/12/31 2023/09/30 Change NWC 22% 21% Non-current assets 387 426 10% 353 Working capital 462 764 65% 239 52
Slide 8: Positive Free Cash Flow from strong cash flow from operating activities
Positive Free Cash Flow from strong cash flow from operating activities which is driven by the increased level of profitability in the first nine months of 2023 Cash Flow (in € million) 9M 2022 9M 2023 Net Income 11 180 Gross Cash Flow 21 253 Cash Flow from Operating Activities 10 130 Net Capex -42
Slide 9: SMA revenues and profits grew even stronger in Q3, especially in Large Scale
After an excellent start of the year in H1, SMA revenues and profits grew even stronger in Q3, especially in our Large Scale segment Sales per segment (in € million) EBIT per segment (in € million) 558 EBITDA 34 20 60 65 106 159 412 96 367 342 164 140 44 252 106 163 56 50 93 25 9 99 114 43 80 18 10
Slide 10: Outlook 2023
Outlook 2023 SMA Solar Technology 10
Slide 11: Product Order Backlog remains on a high level
Product Order Backlog remains on a high level, despite the expected decline in the Home & C&I segments in Q3 Order backlog by segment (in €m) Order backlog development (in €m) and region (in %) Total order backlog: €2,021m (Sep. 30, 2023) Large Scale & Project Solutions1 3 2,468 2,454 374 62 Commerc
Slide 12: Management increased Sales and Profitability Guidance for 2023
Management increased Sales and Profitability Guidance for 2023 based on sustained strong growth in all three segments Guidance 2023 (in €m) Management comments 1.800 - 1.900 • SMA Management increased for the third time the 285 - 325 full year guidance on October 4th 1.066 • This is based on the ver
Slide 13: SMA Solar Technology AG Investor Relations
SMA Solar Technology AG Investor Relations Sonnenallee 1 34266 Niestetal, Germany Tel. +49 561 9522 - 0 Fax +49 561 9522 - 1133 www.sma.de/investor-relations IR@SMA.de SMA Solar Technology 13
Slide 14: Strong 9M 2023 with high sales and significantly improved profitability
Strong 9M 2023 with high sales and significantly improved profitability Key financials (in € million) 9M 2022 9M 2023 Change 2022/2023 Q4 Q1 Q2 Q3 MW sold 8,730 12,890 48% MW sold 3,495 3,236 3,977 5,677 Sales 724 1,337 85% Sales 342 367 412 558 Home Solutions 229 486 112% Home Solutions 106 163 164