Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — FY2023 Earnings Presentation
19 slides from Sma Solar Technology's earnings presentation, Mar 27, 2024
Slide 1: Analyst / Investor Presentation Financial Results 2023
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results 2023 Presented by Barbara Gregor, CFO & Jürgen Reinert, CEO March 27, 2024 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 FY 2023
Review FY 2023 SMA Solar Technology 3
Slide 4: Financial Year 2023
Financial Year 2023 Sales Free-Cash-Flow €1,904m €+57m FY 2022: €1,066m FY 2022: €+5m EBITDA Order backlog €311m €1,705m FY 2022: €70m FY 2022: €2,077m SMA Solar Technology 4
Slide 5: All three segments significantly improved their sales and contributed to the strong group result
All three segments significantly improved their sales and contributed to the extraordinarily strong group result in 2023 Sales per region (in € million) Sales by segment (in € million) FY 2022 GW 12.2 20.5 products services 1 FY 2023 +79% 1,904 323 12 335 Home Solutions 25% 571 9 580 1,066 285 5 290
Slide 6: Profitability significantly above prior year level driven by strong sales growth
Profitability significantly above prior year level driven by strong sales growth with good margins across all three segments EBITDA (in € million) EBIT by Segment3 (in € million) Margin FY 2022 7% 16% FY 2023 +344% 311 Home Solutions 54 148 70 Commercial & -26 Industrial Solutions 23 FY 2022 FY 2023
Slide 7: Robust financial position with Net Cash of 283m€ and equity ratio over 40%
SMA continues to maintain a robust financial position with Net Cash of 283m€ and an equity ratio of over 40% NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2022/12/31 2023/12/31 Change NWC 22% 21% Non-current assets 387 428 11% 392 Working capital 462 837 81% 239 559 309 Other asse
Slide 8: Solid positive Free Cash Flow driven by significantly higher profitability
Solid positive Free Cash Flow driven by significantly higher profitability compared to 2022 Cash Flow (in € million) FY 2022 FY 2023 Net Income 56 226 Gross Cash Flow 33 333 Cash Flow from Operating Activities 29 141 Net Capex -62 -84 Cash inflow from divestments 381 0 Free Cash Flow2 5 57 1. Cash p
Slide 9: Extremely successful 2023 with especially strong Q4 for Large Scale & Project Solutions
SMA concludes an extremely successful year of 2023 with an especially strong Q4 for the Large Scale & Project Solutions segment Sales per segment (in €m) Profitability per segment (in €m) 559 566 EBITDA 20 60 65 106 80 94 96 159 412 68 367 145 44 342 11 164 140 56 7 50 106 163 9 43 99 114 50 57 80 3
Slide 10: Current Developments
Current Developments SMA Solar Technology 10
Slide 11: Over 40 years of experience in the renewable energy market
Over 40 years of experience in the renewable energy market and a sustainable approach have made SMA unique in the global industry Home Solutions Commercial & Industrial Solutions Large Scale & Project Solutions enable private households to generate, store support companies substantially reducing the
Slide 12: SMA is continuously innovating its products, digital business models & services
SMA is continuously innovating its products, digital business models & services Home Solutions Commercial & Industrial Solutions Large Scale & Product Solutions SMA eCharger: Flexible charging solution SMA Commercial Storage Solution: One- New Platform Solution: Turnkey solution for emobility at hom
Slide 13: Resilient across all segments: sustainability, cyber security and quality
Resilient across all segments: SMA is leading the field of sustainability, cyber security and quality Sustainability Cyber Security Quality High ESG Ratings and Rankings – Data security is becoming a selling point for Products and solutions from SMA stand for Independent experts confirm our performa
Slide 14: SMA solutions in large storage projects ensure grid stability worldwide
SMA solutions in large storage projects ensure grid stability worldwide Nachhaltigkeit Cyber-Security Qualität Hohe ESG-Bewertungen und -Rankings - Datensicherheit wird für viele Kunden zu einem Produkte und Lösungen von SMA stehen unabhängige Experten bestätigen unsere Leistung Verkaufsargument für
Slide 15: SMA continues to invest in future viability and aims to continue growing in 2024
SMA continues to invest in future viability and aims to continue growing in 2024 and beyond Investment in the SMA GIGAWATT FACTORY in Germany Expansion of production in Poland - manufacturing of components for new inverter series New US production site to foster additional sales Liquidity and capita
Slide 16: Outlook 2024
Outlook 2024 SMA Solar Technology 16
Slide 17: Product Order Backlog remains on a high level and has normalized
Product Order Backlog remains on a high level and as expected, has normalized to a level below the end of the 2022 Order backlog by segment (in €m) Order backlog development (in €m) and region (in %) Total order backlog: €1,705 m (Dec. 31, 2023) Large Scale & Project Solutions1 2,468 2,454 375 62 Co
Slide 18: SMA expects further sales growth in 2024, mainly driven by Large Scale & Project Solutions
After a very successful year in 2023, SMA expects further sales growth in 2024, mainly driven by Large Scale & Project Solutions Guidance 2024 (in €m) Management comments 1.950 - 2.220 1.904 • Sales in the Large Scale segment will continue to grow strongly driven by the existing high order backlog a
Slide 19: 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 19