SMA Solar Technology AG Reports Earnings Results for the Full Year of 2016; Provides Earnings Guidance for 2017
For the 2017 fiscal year, the Managing Board expects sales of EUR 830 million to EUR 900 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 70 million to EUR 90 million, due in particular to the persistently high price pressure. Depreciation and amortization are expected to amount to EUR 60 million to EUR 70 million. The Managing Board anticipates positive free cash flow and, as a result, an increase in net cash to over EUR 400 million. The Managing Board estimates that product developments and an additional range of services will increase the gross margin from 2018 onward.