DGAP-News: SMA Managing Board presents restructuring plans - global workforce to be reduced by around 425 full-time positions
DGAP-News: SMA Solar Technology AG / Key word(s): Miscellaneous
SMA Solar Technology AG-Corporate News
SMA Managing Board presents restructuring plans - global workforce to be reduced by around 425 full-time positions
Niestetal, December 12, 2018 - The Managing Board of SMA Solar Technology AG (SMA/FWB: S92) has presented the restructuring measures announced in September to the employees. One of the main planned measures is the discontinuation of China as a location and the sale of the Chinese companies to the management there. The restructuring will involve a reduction of the global workforce by around 425 full-time positions. The restructuring measures are needed in order to return SMA to profitability quickly in an environment characterized by a sharp decline in prices. In addition, SMA will position itself for the future as a systems and solutions provider.
Subject to the approval of the works council, the planned restructuring measures are to be implemented starting from January 2019. Worldwide, the SMA Managing Board plans to cut around 425 of the total 3,307 full-time positions (not including temporary employees) as of December 31, 2018, until 2020. More than 100 of these full-time positions relate to Germany and more than 300 to the foreign locations. The SMA Managing Board is aiming to carry out the staff reduction in a socially responsible way. However, compulsory redundancies cannot be ruled out at present.
The SMA Managing Board is confirming its sales and earnings guidance for the current fiscal year. It anticipates sales of EUR760 million to EUR780 million and negative EBITDA in the mid to high tens of millions of euros. For 2019, the SMA Managing Board is aiming for sales growth and positive EBITDA.
Head of Corporate Communications:
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.
12.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||SMA Solar Technology AG|
|Phone:||+49 (0)561 / 9522 - 0|
|Fax:||+49 (0)561 / 9522 - 100|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|