The EBIT margin lies at 6.9 % in the first quarter of 2009 (previous year: 21.1 %). The group’s net profit was EUR5.5 million (previous year: EUR17.3 million).

At the end of the reporting period on March 31, 2009, SMA Solar Technology reports earnings per share of EUR0.16 (previous year: EUR0.50, converted to 34.7 million shares).

The net working capital ratio was successfully kept at a low level also to the March 31, 2009 at 13.6 % (December 31, 2008: 11.4%). With this SMA Solar Technology reached a significantly better value than the target net working capital ratio of 16 to 18 %. The balance sheet indicates a solid structure at the end of the quarter. With a cash and cash equivalents plus securities position of EUR222 million, SMA Solar Technology can finance future growth.

With a market share of approx. 38 % in 2008, SMA’s business development depends directly on the difficult to predict development of the global photovoltaic market. Therefore we only produce to order. Our production concept allows us to quickly adapt capacity corresponding to demand, says Gunther Cramer, chief executive offcier of SMA Solar Technology, thus we were able to close the first quarter profitably despite the decrease in sales. With our new inverter factory in Kassel, which went into operation in April, we were able to continue to develop this competitive advantage and are well prepared for growing demand.

SMA Solar Technology is also consistently driving forward its internationalization. With the newly established companies in the Czech Republic and Belgium, SMA is now represented in eleven countries on four continents. Other subsidiaries are planned for the United Arab Emirates and Portugal. In the first quarter of the current fiscal year, foreign markets had an increasing share of total sales. The share of sales generated abroad was about 52.5 % in Q1 (previous year: 39.8 %).

After a weaker first quarter, SMA Solar Technology management anticipates a significantly better business development for the second quarter of 2009. Compared to the first quarter of 2009, management is expecting an increase in sales of at least 65 % to about EUR145 to EUR165 million.

In the long-term management anticipates a growth of the photovoltaic market but cannot rule out a slight decline in global demand for 2009.