Sma Solar Technology Ag · XETR:S92
Sma Solar Technology — FY2024 Earnings Presentation
23 slides from Sma Solar Technology's earnings presentation, Mar 27, 2025
Slide 1: Analyst / Investor Presentation Financial Results 2024
SMA SOLAR TECHNOLOGY AG Analyst / Investor Presentation Financial Results 2024 Presented by Barbara Gregor, CFO, Jürgen Reinert, CEO & Olaf Heyden, CTrO/COO March 27, 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 FY 2024
Review FY 2024 SMA Solar Technology 3
Slide 4: Fiscal Year 2024
Fiscial Year 2024 Sales Free-Cash-Flow €1,530m €-184m FY 2023: FY 2023: €1,904m €+57m EBITDA Order backlog €-16m €1,356m FY 2023: FY 2023: €311m €1,705m 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) FY 2023 GW 12.2 20.5 19.5 products services 1 +79% FY 2024 -20% 1,904 571 9 580 Home Solutions 25% 159 12 170 1,530 1,066 40% Commercial & 474 5
Slide 6: FY 2024 profitability driven by LSPS and one-time effects from restructuring
FY 2024 profitability driven by strong performance in LSPS and one-time-effects from restructuring and transformation program EBITDA (in € million) EBIT by Segment (in € million) Margin 7% 16% -1% FY 2023 FY 2024 311 Home Solutions 148 -151 70 -16 Commercial & 23 FY 2022 FY 2023 FY 2024 Industrial S
Slide 7: Net Cash decreased in FY 2024 due to increased Net Working Capital
As a result of increased Net Working Capital, Net Cash decreased in FY 2024 NWC | Net Cash (in € million) Group Balance Sheet (in € million) 2023/12/31 2024/12/31 Change NWC 21% 31% Non-current assets 428 479 12% 392 473 Working capital 837 781 -7% 559 564 Other assets1 74 53 -29% 277 217 -304 -147
Slide 8: Negative Free Cash flow driven by operations, inventories and Net Capex
Negative Free Cash flow driven by negative operational performance, increase in inventories and Net Capex Cash Flow (in € million) FY 2023 FY 2024 Net Income 226 -118 Gross Cash Flow 333 111 Cash Flow from Operating Activities 141 -113 Net Capex -84 -90 Cash inflow from divestments 0 181 Free Cash F
Slide 9: Order Backlog reflects market demand with Large Scale remaining strong
Product Order Backlog reflects market demand with Home and C&I soft and Large Scale remaining strong in 2024 Order backlog development (in €m) Order backlog by segment (in €m) and region (in %) 2,077 Total order backlog: €1,356 m (Dec. 31, 2024) 1,705 Large Scale & Project Solutions2 62 322 111 Comm
Slide 10: Q4 2024 in line with expectations, driven by Large Scale performance
Q4 2024 in line with expectations, driven by sustained Large Scale performance, while Home and C&I affected by one-offs from restructuring Sales per segment (in €m) Profitability per segment (in €m) 566 EBITDA 80 50 31 3 -100 94 68 -139 470 11 38 18 -10 7 23 41 35 57 59 54 72 398 4 145 362 19 47 -7
Slide 11: Restructuring Program
Restructuring Program SMA Solar Technology 11
Slide 12: Olaf Heyden, SMA's new Chief Transformation and Operating Officer
Olaf Heyden, SMA´s new Chief Transformation and Operating Officer To lead the restructuring program to success, the Supervisory Board appointed Olaf Heyden to the Managing Board on a temporary basis. Olaf Heyden will lead the ongoing restructuring program until mid 2026. In addition, he is responsib
Slide 13: Guidelines for restructuring & transformation program defined
Guidelines for restructuring & transformation program defined Cost & Cash- E2E- Flexibility Future Readiness Efficiency Responsibility Development of Increased flexibility in Creation of an Development and measures to improve service provision for fast organizational structure implementation of cost
Slide 14: 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 EBIT improvement need (ambition for run-rate 2027) In €m 150 - 200 Revenue (Price Material costs OPEX Personnel costs and Volume) Exemplary measures • Additional revenue • Renegot
Slide 15: Operating model change with full P&L responsibility in the divisions
Operating model change | Establishment of a new operating model with full P&L responsibility in the divisions; go-live planned for May Major changes Steering Sizing • Corporate center as strategic guide for long-term • Global rightsizing to expected revenue for value creation, divisions for short-/m
Slide 16: Transformation
Transformation SMA Solar Technology 16
Slide 17: Home & Business Solutions with consolidated organisation and clear focus
Home & Business Solutions with consolidated organisation and clear focus to deliver on strategic initiatives Business development Securing future success Sales in €m 1061 Increasing competitiveness & differentiation 558 628 100 High priority to portfolio, sales & service 537 514 slightly up 354 Cost
Slide 18: Large Scale & Projects Solutions delivers strong track record and new offerings
Large Scale & Projects Solutions delivers a strong track record and new offerings to a growing market Business Development Securing future success Sales in €m slightly up 1177 845 Market dynamic demands speed 475 473 System demands stability & flexibility 441 SMA +39% Market1 +21% 378 SMA +91% Custo
Slide 19: SMA differentiates with a clear focus on relevant market demands
SMA differentiates with a clear focus on relevant market demands Cyber Security Sustainability Grid stability SMA is being recognized for working SMA´s sustainability efforts are Grid functionality solutions in high according to the highest standards recognized internationally demand – Blackhillock,
Slide 20: ALTENSO en route to becoming a key player of the energy transition
ALTENSO en route to becoming a key player of the energy transition Project ▪ Constant profitable growth, from early on Development Main ▪ From experimental phase to well thought-through business model with Service and Component O&M for BESS Delivery (PV, diversified portfolio (BESS, P2G, Off-Grid/Hy
Slide 21: Outlook 2025
Outlook 2025 SMA Solar Technology 21
Slide 22: Sales and earnings guidance 2025
Sales and earnings guidance 2025 driven by market trends and restructuring and transformation program Guidance 2025 (in €m) Management comments • Sales in the Large Scale & Projects division will continue 1.500 – 1.650 to perform on a high level, driven by the existing high 1.530 order backlog and s
Slide 23: 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 23