SMA Completes Necessary Corporate Downsizing Without Involuntary Layoffs

DGAP-News: SMA Solar Technology AG / Key word(s): Miscellaneous
SMA Solar Technology AG: SMA Completes Necessary Corporate Downsizing
Without Involuntary Layoffs

17.09.2013 / 14:14


SMA Solar Technology AG - Corporate News

SMA Solar Technology AG Completes Necessary Corporate Downsizing Without
Involuntary Layoffs

Niestetal, September 17, 2013 - SMA Solar Technology AG (SMA) will be able
to carry out its planned downsizing on a voluntary and socially responsible
basis. In response to changing conditions in the global photovoltaic market
and the associated sharp decline in sales, the company had announced plans
to gradually cut 680 full-time positions in Germany by December 31, 2014.

'For the first time in many years, the global photovoltaic market measured
in euros will decline in 2013. We are expecting a sustained period of
consolidation. As global market leader, SMA will be especially affected by
this. An adjustment of personnel structures is therefore unavoidable,'
explained SMA Chief Executive Officer Pierre-Pascal Urbon. By the end of
2014, the company plans to cut its full-time positions in Germany by 680 in
relation to the cutoff date of March 31, 2013. This corresponds to around
800 employees, as the layoffs will affect both full-time positions and
part-time jobs. By the end of 2014, the workforce capacity at locations in
Germany will total about 3 000 full-time positions.

The SMA Managing Board constructively cooperated with the Works Council to
develop a voluntary program that would make the adjustment to the personnel
structures as socially responsible as possible. In addition to measures
implemented prior to August 1, 2013 and expiring temporary contracts, more
than 400 SMA employees had decided by September 13, 2013 to participate in
the voluntary program. Therefore, SMA will achieve the necessary targeted
reductions and will be able to avoid involuntary layoffs. 'Although we are
saddened to have to part with our employees, the result is a good one for
SMA. We have achieved the targeted reductions and have been able to exclude
involuntary layoffs. We would like to thank the employees who have made use
of the voluntary program and are leaving SMA for their dedication and the
good work they have performed,' said Chief Financial and Human Resources
Officer Lydia Sommer.

About SMA
The SMA Group generated sales of EUR1.5 billion in 2012 and is the global
market leader for solar inverters, a key component of all PV plants and,
as an energy management group, offers innovative key technologies for
future power supply structures. It is headquartered in Niestetal, near
Kassel, Germany, and is represented internationally in 21 countries. The
Group employs more than 5,000 people worldwide. SMA's broad product
portfolio includes a compatible inverter for every type of module on the
market and for all plant sizes. The product range includes both inverters
for photovoltaic plants connected to the grid as well as inverters for
off-grid systems. SMA is therefore able to provide ideal technical inverter
solutions for all plant sizes and types. Since 2008, the Group's parent
company, SMA Solar Technology AG, has been listed on the Prime Standard of
the Frankfurt Stock Exchange (S92) and also in the TecDAX index. In recent
years, SMA has received numerous awards for excellence as an employer and
achieved first place in the nationwide 'Great Place to Work(R)' competition
in 2011 and 2012 and fourth place in 2013.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805

Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400

Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223

This corporate news serves only as information and does not constitute an
offer or invitation to subscribe for, acquire, hold or sell any securities
of SMA Solar Technology AG (the 'Company') or any present or future
subsidiary of the Company (together with the Company, the 'SMA Group') nor
should it form the basis of, or be relied upon in connection with, any
contract to purchase or subscribe for any securities in the Company or any
member of the SMA Group or commitment whatsoever. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as

This corporate news can contain future-oriented statements. Future-oriented
statements are statements which do not describe facts of the past. They
also include statements about our assumptions and expectations. These
statements are based on plans, estimations and forecasts which the Managing
Board of SMA Solar Technology AG (SMA or company) has available at this
time. Future-oriented statements are therefore only valid on the day on
which they are made. Future-oriented statements by nature contain risks and
elements of uncertainty. Various known and unknown risks, uncertainties and
other factors can lead to considerable differences between the actual
results, the financial position, the development or the performance of the
corporation and the estimates given here. These factors include those which
SMA has discussed in published reports. These reports are available on the
SMA website at www.SMA.de. The company accepts no obligation whatsoever to
update these future-oriented statements or to adjust them to future events
or developments.

End of Corporate News


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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: www.sma.de
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service
230669 17.09.2013


SMA Solar Technology AG
Oficina de prensa
Sonnenallee 1
34266 Niestetal - Alemania

Teléfono: +49 561 9522-1124
Fax: +49 561 9522-421400