Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — Q3 2024 Earnings Presentation
17 slides from Sma Solar Technology's earnings presentation, Nov 14, 2024
Slide 1: Analyst / Investor Presentation Financial Results Q3 2024
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results Q3 2024 Presented by Barbara Gregor, CFO & Jürgen Reinert, CEO November 14, 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 9M 2024
Review 9M 2024 SMA Solar Technology 3
Slide 4: 9M 2024 Sales, EBITDA, Free Cash Flow, Order backlog
9M 2024 Sales Free-Cash-Flow €1,060m €-220m 9M 2023: 9M 2023: €1,337m €+79m EBITDA Order backlog €84m €1,438m 9M 2023: 9M 2023: €231m €2,021m SMA Solar Technology 4
Slide 5: Sales below prior year level with strong revenue growth in Large Scale segment
Sales below prior year level with strong revenue growth in Large Scale segment as expected Sales per region (in € million) Sales by segment (in € million) 9M 2023 GW 8.7 12.9 13.0 products services 1 +85% 9M 2024 -21% 1,337 479 7 486 Home Solutions 22% 138 9 147 1,060 41% 724 Commercial & 330 4 334
Slide 6: 9M 2024 profitability driven by strong performance in LS segment and positive one-time-effect
9M 2024 profitability driven by strong performance in LS segment and positive one-time-effect EBITDA (in € million) EBIT by Segment (in € million) Margin 7% 17% 8% 9M 20232 9M 20243 +686% -64% 231 Home Solutions 137 -47 84 50 Commercial & 16 Industrial Solutions -77 9M 2022 9M 2023 9M 2024 Large Sca
Slide 7: As a result of increased Net Working Capital, Net Cash decreased in 9M 2024
As a result of increased Net Working Capital, Net Cash decreased in 9M 2024 NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2023/12/31 2024/09/30 Change NWC 21% 36% Non-current assets 428 482 13% 392 584 Working capital 837 948 13% 559 746 Other assets1 74 61 -17% 277 202 -212 Total
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) 9M 2023 9M 2024 Net Income 180 35 Gross Cash Flow 253 53 Cash Flow from Operating Activities 130 -167 Net Capex -51 -72 Cash inflow from divestments 0 181 Free Cash Flow2 79 -220 SMA Solar Technology 1. cash i
Slide 9: Order Backlog reflects current market demand with Home and C&I soft and Large Scale strong
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 %) 2,454 Total order backlog: €1,438 m (Sep. 30, 2024) 2,077 Large Scale & Project Solutions2 622,021 340 111
Slide 10: Net sales and EBIT Q3 2024 in line with expectations
Net sales and EBIT Q3 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) 558 566 EBITDA 106 80 50 31 3 94 96 159 68 44 11 38 18 398 -10 145 362 7 47 9 140 63 43 41
Slide 11: Restructuring and Transformation Program
Restructuring and Transformation Program SMA Solar Technology 11
Slide 12: Guidelines: What do we align ourselves with?
Guidelines: What do we align ourselves with? Cost & Cash Flexibility E2E Responsibility Future Viability Efficiency Development of Increasing the flexibility Creating an Developing and measures to improve cost in service delivery for organizational structure implementing strategies efficiency and re
Slide 13: Restructuring - Transformation in H&CI and sustainable growth of LS
Subsequent Restructuring - Transformation in H&CI and sustainable growth of LS 2024 2025 2026 2027 • Introduction of new op. model with Overarching E2E accountability of the segments • Establishing a lean corporate center • Exit from unattractive country markets • Analysis & potential update of prod
Slide 14: SMA North Star
SMA North Star Leading global specialist in photovoltaic system and solution technology SMA's has a diversified business focusing on energy systems in the residential/commercial markets and on energy solutions in the utility scale markets SMA drives sustainable profitable growth by leveraging its in
Slide 15: Outlook 2024
Outlook 2024 SMA Solar Technology 15
Slide 16: SMA Managing Board adjusts sales and earnings guidance
SMA Managing Board adjusts sales and earnings guidance Guidance 2024 (in €m) Management comments 1.904 • Sales in the Large Scale & Projects Solutions segment will 1.450 – 1.500 continue to perform on high level, driven by the existing 311 high order backlog and sustained high demand. • Due to ongoi
Slide 17: 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 17