Dividend in prospect: SMA Solar shares turn negative – SMA Solar is back in the black | message

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The bottom line was a consolidated result of 28.1 million euros, as SMA Solar announced on Thursday in Niestetal. In the previous year there was a loss of EUR 8.6 million. The Group is therefore proposing a dividend of 0.30 euros per share for 2020 (2019: 0.00 euros). This corresponds to a payout rate of 37 percent. Analysts had expected significantly less.The inverter manufacturer has confirmed the forecast for the current year that has already been issued, as has the previously published key data. Accordingly, the group expects sales to grow to 1.075 to 1.175 billion euros in 2021. In 2020 sales were 1.03 billion euros. Earnings before interest, taxes, depreciation and amortization (Ebitda) are expected to rise to 75 to 95 million euros in the current year. In 2020, the group reached 72 million euros here. The management assumes that it will be able to expand the group’s position in important key markets in the further course of the year and benefit from the expected growth in the photovoltaic markets in Europe and America.

This is how the SMA Solar share reacts

The rapid recovery of SMA Solar shares from the Corona crisis suffered another damper on Thursday. After the papers of the Niestetal manufacturer of inverters initially reacted with profits to the business figures presented and the surprisingly positive dividend proposal, they finally slipped into the red.

The SMA Solar share certificates, which are generally very volatile, fell by almost seven percent to EUR 48.52 among the biggest losers in the slightly declining SDAX small cap index by late morning. At the beginning of trading, the shares had risen by almost four percent.

Due to good business, the solar group SMA Solar was in the black again in the Corona year. The Group is therefore proposing a dividend of 0.30 euros per share for 2020 (2019: 0.00 euros). Analysts had expected significantly less.

The management assumes that it will be able to expand the group’s position in important key markets in the further course of the year and benefit from the expected growth in the photovoltaic markets in Europe and America. SMA Solar therefore confirmed the forecast that had already been issued for the current year, as did the previously published key data.

Meanwhile, a dealer pointed out that the company’s forecast sales range for the first quarter was below market expectations. This may have irritated some investors.

The expert Constantin Hesse from the analysis company Jefferies, on the other hand, was somewhat more positive. Although SMA Solar got into the new year sluggishly because of the corona crisis, the margin forecast for the first quarter is solid.

The shares of SMA Solar ticked off the corona crisis in mid-August 2020. Since then, the paper has risen sharply from around 35 euros to just under 72 euros at the beginning of January. Since then, however, the recovery has stalled. This is also shown by the development in value since the beginning of the year: While the papers of North Hesse fell around 13 percent in this period, the SDax posted a plus of two percent.

The technical picture also deteriorated this Thursday: In early trading, the papers had approached the 100-day average line, which describes the medium-term trend. However, it was not possible to overcome this in the long term and thus generate a buy signal; instead, the stocks slid below the 21-day line, which is the standard for the short-term trend.

NIESTETAL (dpa-AFX)

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Image sources: SMA Solar Technology AG





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Dividend prospect SMA Solar shares turn negative SMA Solar black message

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