EQS-Ad-hoc: SMA Solar Technology AG / Key word(s): Restructure of Company SMA Solar Technology AG Announces Restructuring and Transformation Program Niestetal, September 25, 2024 – Subsequent to the previous reporting on the business development of SMA Solar Technology AG (SMA/ISIN: DE000A0DJ6J9/FSE: S92), the company announces the following: The sales development in the Home Solutions and Commercial & Industrial Solutions segments continues to be significantly influenced by persistently high inventories at distributors and installers as well as a generally very challenging market environment. The Large Scale & Project Solutions segment continues to develop according to plan. The Managing Board has decided to initiate a company-wide restructuring and transformation program aimed at increasing efficiency and strategic focus. In line with this, the Managing Board is aiming to achieve cost savings of an estimated EUR 150 million to EUR 200 million. The main areas of action were discussed with the Supervisory Board on 25 September. In the restructuring and transformation program, measures are to be developed in the following fields of action: (1) Optimization of the company's cost structure, (2) Adjustment of the organizational structure and processes, (3) Strategic repositioning of the company on the market. The program will help ensure that the company can grow profitably, even in a market environment that remains volatile. If the measures to be developed have an impact on the sales and earnings guidance for the current financial year, the outcome will be published immediately.
Contact: Viona Brandt Investor Relations Phone: +49 151 277 658 25 End of Inside Information
25-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | SMA Solar Technology AG |
Sonnenallee 1 | |
34266 Niestetal | |
Germany | |
Phone: | +49 (0)561 / 9522 - 0 |
Fax: | +49 (0)561 / 9522 - 100 |
E-mail: | info@sma.de |
Internet: | http://www.sma.de |
ISIN: | DE000A0DJ6J9 |
WKN: | A0DJ6J |
Indices: | SDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1995825 |
End of Announcement | EQS News Service |
|
1995825 25-Sep-2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.