Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — Q1 2025 Earnings Presentation
15 slides from Sma Solar Technology's earnings presentation, May 8, 2025
Slide 1: Analyst / Investor Presentation Financial Results Q1 2025
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results Q1 2025 Presented by Kaveh Rouhi, CFO & Jürgen Reinert, CEO May 8th, 2025
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 2025
Review Q1 2025 SMA Solar Technology 3
Slide 4: Q1 2025 Sales, EBITDA, Free Cash Flow, Order backlog
Q1 2025 Sales Free-Cash-Flow €328m € +96m Q1 2024: Q1 2024: €362m €-46m EBITDA Order backlog €25m €1,294m Q1 2024: Q1 2024 : €50m €1,468m 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 but soft Home and C&I sales as expected Sales per region (in € million) Sales by segment (in € million) Q1 2024 GW 4.3 4.1 products services 1 Q1 2025 -9% 362 59 3 63 328 Home Solutions 2 22 Americas 25% 40% 20 70 1 70 Co
Slide 6: Profitability driven by strong performance in Large Scale business
Profitability driven by strong performance in Large Scale business with Home and C&I negative as expected EBITDA (in € million) EBIT by segment (in € million) Margin 14% 8% Q1 2024 Q1 2025 50 Home Solutions -4 25 -20 Commercial & -18 Industrial Solutions -26 Q1 2024 Q1 2025 One-Offs +191 +102 Large
Slide 7: Net working capital reduction measures taking effect and driving recovery of cash
Net working capital reduction measures taking effect and driving recovery of cash despite increased inventories which are needed for the Large Scale project pipeline NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2024/12/31 2025/03/31 Change NWC 31% 24% Non-current assets 479 535 1
Slide 8: Positive free cash flow driven by the positive result and effective net working capital reduction
Positive free cash flow driven by the positive result and effective net working capital reduction measures Cash Flow (in € million) Q1 2024 Q1 2025 Net Income 28 6 Gross Cash Flow 51 21 Cash Flow from Operating Activities -44 110 Net Capex -20 -14 Cash inflow from divestments 181 0 Free Cash Flow2 -
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 %) Total order backlog: €1.294m (March 31, 2025) 1.705 62 1.356 323 1.294 111 Large Scale & Project Solutions
Slide 10: Q1 2025 sales less than average quarter of FY 2024; profitability back in the black
Q1 2025 sales less than the average quarter of FY 2024 but primarily due to high Large Scale sales in Q4 2024. Profitability back in the black after negative one-time effects in Q4 2024 Sales per segment (in €m) Profitability per segment (in €m) 470 EBITDA 50 31 3 -100 25 23 398 35 EBIT 38 18 -10 -1
Slide 11: Restructuring Program
Restructuring Program SMA Solar Technology 11
Slide 12: Project ambition: Up to €200m EBIT improvement across four clusters
Project ambition: Up to 200 €m EBIT improvement to be realized across four clusters; approx. 40% to be realized in 2025; Q1´25 results on track EBIT improvement need (ambition for run-rate 2027): 150 – 200 €m Material costs OPEX Personnel costs Exemplary measures • Renegotiate supplier • Reduce spen
Slide 13: Outlook 2025
Outlook 2025 SMA Solar Technology 13
Slide 14: Sales and EBITDA in the lower third of guidance range
Sales and EBITDA in the lower third of guidance range due to deteriorated macroeconomic environment and higher uncertainty given volatile tariff policies Guidance 2025 (in €m) Management comments • Large Scale & Projects division with a strong start in 1.500 – 1.650 Q1 and high order backlog to help
Slide 15: 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 15