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Solar Technology Case

Solar Technology Case. Financial data on SMA Solar Technology Group (Source: Bloomberg) ( Assumption : D ata is based on December 31, 2009 ). Annual Report of SMA Solar Technology Group. Assumption : 1) P&L The P&L data for December 31, 2009 and

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Solar Technology Case

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  1. Solar Technology Case

  2. Financial data on SMA Solar Technology Group(Source: Bloomberg) (Assumption: Data isbased onDecember 31, 2009)

  3. Annual Report of SMA Solar Technology Group • Assumption: • 1) P&L • The P&L dataforDecember 31, 2009 and • December 31, 2008 canbeobtainedbydividingthe Q1 – Q3 financialfiguresby 3 andthanmultiplyingitby 4. • 2) Balance sheet • The balancesheetdataarebased on 12/31/2009 as well as 12/31/2008 andneed not tobeadjusted

  4. Annual Report of SMA Solar Technology Group 12/31/2009 12/31/2008

  5. Annual Report of SMA Solar Technology Group 12/31/2009 12/31/2008

  6. Additional Information on • SMA Solar Technology Group: • Depreciation and amortization for the entire financial year was €15.271 m (in 2009) and €8.205 m (in 2008) • CAPEX for the entire financial year : €14.143 m (in 2009) and €9.075 m (in 2008) • Peer groupof SMA Solar Technology Group is Phoenix Solar Group (bothcompanies • arelisted in the M DAX) • IBL in 2009 are based on the positions “financial liabilities” and “other financial liabilities” • i.e. 19.198m + 1.321m + 52.416m = 72.935m • - Provisions in 2009 are based on the position “other provisions” • i.e. 32.525m + 21.513m = 54.038m

  7. Financial data on Phoenix Solar group(Source: Bloomberg) (Assumption: Data isbased onDecember 31, 2009)

  8. Annual Report of Phoenix Solar Group • Assumption: • 1) P&L • The P&L dataforDecember 31, 2009 and • December 31, 2008 canbeobtainedbydividingthe Q1 – Q3 financialfiguresby 3 andthanmultiplyingitby 4. • 2) Balance sheet • The balancesheetdataarebased on 12/31/2009 as well as 12/31/2008 andneed not tobeadjusted

  9. Annual Report of Phoenix Solar Group 12/31/2008 12/31/2009

  10. Annual Report of Phoenix Solar Group 12/31/2008 12/31/2009

  11. Additional Information on • Phoenix Solar Group: • Peer groupof SMA Solar Technology Group is Phoenix Solar Group (bothcompanies • arelisted in the M DAX) • IBL in 2009 are based on the positions “non-current financial liabilities”, • “current financial liabilities” and “other financial liabilities” • i.e. 66 + 36 + 3,269 = 3,371 • Provisions in 2009 are based on the position “Non-current provisions” and • “Current provisions”; i.e. 1, 975 + 638 = 2,613

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