Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — H1 2023 Earnings Presentation
14 slides from Sma Solar Technology's earnings presentation, Aug 10, 2023
Slide 1: Analyst / Investor Presentation Financial Results H1 2023
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results H1 2023 Presented by Barbara Gregor, CFO August 10th, 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 H1 2023
Review H1 2023 SMA Solar Technology 3
Slide 4: H1 2023 key figures: sales, EBITDA, free cash flow, order backlog
H1 2023 Sales Free-Cash-Flow €779m €81m Increase of 65% to H1 2022 positive EBITDA Order backlog €125m €2,454m Increase of 686% Increase of 90% to H1 2022 to H1 2022 SMA Solar Technology 4
Slide 5: Home Solutions sales more than doubled; C&I and Large Scale double-digit growth
Home Solutions Sales more than doubled and C&I and Large Scale with double-digit revenue growth in the first half of 2023 Sales per region (in € million) Sales by segment (in € million) H1 2022 GW 12.2 5.8 7.2 products services 1 H1 2023 1,066 132 3 136 Home Solutions Americas 24% +65% 323 5 327 779
Slide 6: Profitability significantly increased in all three segments
Profitability significantly increased compared to H1 2022 in all three segments and C&I and Large Scale are back in the black, even earlier than planned EBITDA (in € million) EBIT by Segment (in € million) Margin 7% H1 2022 3% 16% H1 2023 +686% 125 Home Solutions 17 93 70 Commercial & 16 -11 Industr
Slide 7: Net cash significantly above year-end level
Net Cash significantly above year end level driven by strong H1 result despite increased NWC in line with our sales growth NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2022/12/31 2023/06/30 Change NWC 22% 18% Non-current assets 387 415 7% 251 239 Working capital 462 657 42% 469 3
Slide 8: Positive free cash flow driven by good profitability
Positive Free Cash Flow driven by the good profitability in the first half of 2023 Cash Flow (in € million) H1 2022 H1 2023 Net Income -11 104 Gross Cash Flow -3 143 Cash Flow from Operating Activities -14 113 Net Capex -28 -32 Cash inflow from divestments 0 0 Free Cash Flow1 -42 81 SMA Solar Techno
Slide 9: Strong H1 2023 with high sales and improved profitability
Strong H1 2023 with high sales and significantly improved profitability Key financials (in € million) H1 2022 H1 2023 Change 2022/2023 Q3 Q4 Q1 Q2 MW sold 5,757 7,213 25% MW sold 2,973 3,495 3,236 3,977 Sales 472 779 65% Sales 252 342 367 412 Home Solutions 136 327 142% Home Solutions 93 106 163 164
Slide 10: Outlook & Guidance 2023
Outlook & Guidance 2023 SMA Solar Technology 10
Slide 11: Product order backlog remains on a high level at end of H1 2023
Product Order Backlog remains on a high level at the end of H1 2023 and gives us even more confidence in our revenue expectations for 2023 and 2024 Order backlog by segment (in €m) Order backlog development (in €m) and region (in %) Total order backlog: €2,454m (Jun. 30, 2023) +90% Large Scale & Pro
Slide 12: Management foresees continued significant sales and profitability growth in H2 2023
Management foresees continued significant Sales and Profitability growth in H2 2023 compared to H2 2022 Guidance 2023 (in €m) Management comments 1.700 - 1.850 • SMA Management increased the full year guidance 230 - 270 on June 23rd 1.066 • The reason for the better-than-planned performance 70 and t
Slide 13: SMA: a truly sustainable and solid financed company
SMA: a truly sustainable and solid financed company Financial Stability Brand Awareness Diversified Portfolio Global Customer Base Sustainability SMA Solar Technology 13
Slide 14: 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 14