Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — Q1 2024 Earnings Presentation
13 slides from Sma Solar Technology's earnings presentation, May 8, 2024
Slide 1: Analyst / Investor Presentation Financial Results Q1 2024
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results Q1 2024 Presented by Barbara Gregor, CFO May 8, 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 Q1 2024
Review Q1 2024 SMA Solar Technology 3
Slide 4: Q1 2024 key figures
Q1 2024 Sales Free-Cash-Flow €362m €-46m Q1 2023: €367m Q1 2023: €+50m EBITDA Order backlog €50m €1,468m Q1 2023: €60m Q1 2023: €2,468m SMA Solar Technology 4
Slide 5: Sales on prior year level with strong revenue growth in Large Scale segment
Sales on prior year level with strong revenue growth in Large Scale segment as expected Sales per region (in € million) Sales by segment (in € million) Q1 2023 GW 3.2 4.3 products services 1 Q1 2024 -1% 367 362 161 2 163 Home Solutions Americas 22% 59 3 63 30% Commercial & 79 2 80 Industrial Solutio
Slide 6: Profitability decreased compared to Q1 2023 mainly due to product mix and customer stocks
Profitability decreased compared to Q1 2023 mainly due to change in product mix and high customer stocks in Home Solutions and C&I Solutions EBITDA (in € million) EBIT by Segment2 (in € million) Margin Q1 2023 16% 14% Q1 2024 -17% 60 50 Home Solutions 50 -4 Commercial & -1 Industrial Solutions -18 Q
Slide 7: Net Cash and debt-equity ratio remain on a robust level
Net Cash and debt-equity ratio remain on a robust level NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2023/12/31 2024/03/31 Change NWC 21% 24% Non-current assets 428 438 2% 392 464 Working capital 837 910 9% 559 686 Other assets1 74 66 -9% 277 224 -290 Total cash 283 242 -15% -304
Slide 8: Positive Gross Cash Flow while free cash flow is affected by higher NWC
Positive Gross Cash Flow from operating profits while free cash flow is affected by higher NWC Cash Flow (in € million) Q1 2023 Q1 2024 Net Income 52 28 Gross Cash Flow 76 51 Cash Flow from Operating Activities 65 -44 Net Capex -15 -20 Cash inflow from divestments 0 181 Free Cash Flow2 50 -46 SMA So
Slide 9: Net sales in line with Q1 2023, driven by the Large Scale segment
Net sales in line with Q1 2023, driven primarily by the Large Scale segment, while Home and C&I Solutions are affected by high customer stock levels Sales per segment (in €m) Profitability per segment (in €m) 559 566 EBITDA 60 65 106 80 50 94 96 159 412 68 367 145 362 44 11 56 7 164 140 63 50 38 163
Slide 10: Outlook 2024
Outlook 2024 SMA Solar Technology 10
Slide 11: Product Order Backlog remains on a good level and is returning to a more normal level
Product Order Backlog remains on a good level and is returning to a more normal level as expected Order backlog by segment (in €m) Order backlog development (in €m) and region (in %) Total order backlog: €1,468 m (March 31, 2024) Large Scale & Project Solutions1 2,468 2,454 366 62 Commercial & Indus
Slide 12: SMA Managing Board confirms sales and earnings guidance
SMA Managing Board confirms sales and earnings guidance 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 and 311 220 - 290 sustained high demand. • Due to high inventory levels a
Slide 13: 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 13