SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program

SMA reduces sales and earnings guidance due to sustained market slowdown in the Home and C&I segments as well as the restructuring and transformation program

Niestetal, November 13, 2024 – The sustained market slowdown in the Home Solutions and Commercial & Industrial Solutions segments and the initiatives derived from the restructuring and transformation program announced in September 2024 are resulting in several one-off effects for this fiscal year that include inventory value adjustments as well as restructuring expenditures amounting to an estimated €100 million to €140 million. Additionally, accounting depreciation and amortization will lead to a further estimated €20 million to €30 million reduction in EBIT as part of the Annual Financial Statement. The Managing Board now expects EBITDA of between minus €20 million to €20 million and EBIT of between minus €100 million to minus €50 million. The amount of the provisions is subject to further reviews.

Due to the aforementioned market weakness, the group revenue will be slightly adjusted downwards to a range of €1,450 million euros to €1,500 million.

In addition to operational savings, the measures and envisaged cost savings amounting to €150 to €200 million will also result in necessary job cuts affecting up to 1,100 full-time positions worldwide.

Contact:

Viona Brandt

Investor Relations

viona.brandt@sma.de

Phone: +49 151 277 658 25