company presentation sma-proinso eng · notes: (1) sales 2008e is the upper corridor of sma’s...
TRANSCRIPT
Proinso
15.01.09
2
Market
3
Off-grid
All PV applications All power ranges All module types
Thin-Film module
Crystalline module
From <1 kW
To >1 MW
On-grid
SMA offers a complete inverter product range for all solar applications
Back-up
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
SMA is the market leader & trendsetter in inverter technology
4
Direct exposure to high-growth PV-market
Sources: Rogol/ Photon (February 2008), Solarbuzz LLC, production led scenario (March 2008).
SMA has the right solar inverter for each solar system
PV-market growth expectations (MW) Every PV system requires an inverter
Residential <5kW Commercial <250kW
Industrial >250kW Off-Grid
Back-upMonitoring
CAGR
81%
46%
Rogol/ Photon (February 2008)
SolarBuzz, production led scenario (March 2008)
Ann
ually
insta
lled
MW 69%
average
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
5
Leaders’ market shares in the PV sector (2007)
SMA – A global leader for solar inverters
Pole position through product range, service, global presence and flexibility
Sources: Solarbuzz LLC (March 2008), Photon (May 2008), Photon (September 2007), Photon International (March 2008).
34%
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
6
Technology
7
Six highly successful product families
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
8
Our bestsellers in 2007
Full product range for custom-fit system design
Transformerless concept offers the ability to use highest efficiency topology
Transformer concept device is the first choice for thin-film projects
Max. ACOutput (W)
New productintroductions 2008
Withtransformer
(#12)
700 1100 1700 2500 3000 3800
1100LV 2800i 3300
Withouttransformer
(#12)
2100 TL 3300TL HC 4200TL HC 5000TL HC
4000TL
6000A 7000 HV
8000TL 10000TL
0 1,000 2,000 3,000 5,0004,000 6,000 9,000 11,000
5000A
7000TL6000TL 9000TL 11000TL
5000TL
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
Sunny Boy / Sunny Mini Central
9
Comprehensive product range for industrial solar applications
Market leading product for medium voltage applications
Withtrans-former
Withouttrans-former
Direct connection to medium
voltage grid
100 200 400300 500
350HE200HE 500HE250HE
100
200150
125LV
350250
1,100700
700MV400MV
100HE
Max. ACOutput (kW)
1000MV500MV 1120MV
New productintroductions
2008
Our bestsellers in 2007
560HE
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
Sunny Central
10
SMA is the true trendsetter in inverter technology
More than 70% price reduction per Watt over the last 18 years
Technology innovation
SMA product
Efficiency
Price per Watt
1990
First serial inverter with transistor
Max. η: 90%
PV-WR 1800
1.20 €
2003
Multistring with broad input voltage window
Max. η: 96%
Sunny Boy5000TL
0.58 €
2008
H5-Technology, Electronic Solar Switch, Opticool
Max. η: 98%
Sunny MiniCentral 11000TL
0.33 €
1995
First string inverter
Max. η: 93%
Sunny Boy 700
1.11 €~ ~ ~ ~
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
11
Note: (1) Price/W reduction of Sunny Boy & Sunny Mini Central. Calculation based on catalogue price per Watt for most efficient and highest power product in the respective year.
27%30%
48%
93%100%
0%
25%
50%
75%
100%
1990 1995 2003 2007 2008
Pric
e/W
(reb
ased
to 1
00%
)
Economics Key innovations
OptiCool (2005)> Full efficiency up to 40°C through licensed
chassis concept
OptiTrac (2007)> Yield increase through optimization of
Maximum Power Point (MPP) tracking system
H5-Topology (2007)> Innovative circuit technology enable
efficiency increase to 98%
Electronic Solar Switch (2007)> First integrated direct current load
disconnection unit for highest security
90%
93%
98%98%96%
85%
90%
95%
100%
1990 1995 2003 2007 2008Max
imum
inve
rter e
ffici
ency
Product price reduction
Increased effenciency
Proven technology leadership and high rate of innovation
Up to 6 new products per year to offer you most innovative technology
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
12
Our 300 engineers have a R&D budget of more than 30m EUR per year
Several innovations brought to market in 2008
> Easy communication (Bluetooth, Display)
> Multistring
> Easy installation
> Transformerless
Sunny Backup 2220
Sunny CentralHE
Sunny Boy 5000TL
Sunny MiniCentral 11000TL
Sunny Island 2224
> Custom-fit system design
> Super energy yield
> Well accepted for commercial and industrial applications
> New Sunny Centrals for EU and US market
> High-efficiency technology
> Backup solution for single-family houses
> Battery delivers stored solar power at power failure
> Add-on for every PV system
> Off-grid manager
> Suitable for off-gridsystems as well as a utility backup
> Excellent overload characteristics
> Max η: 93.6%
> Max η: 93.6%
> Max η: 98.7%(1)
> Max η: 98%
> Max η: 97%
Note: (1) Based on next generation of Sunny Central 300 (without transformer).
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
13
SMA strives to remain trendsetter in inverter technology
More products to be launched in 2009 and beyond
> New generation with outdoor-cabinet
> Best system costs due to outdoor setup and high efficiency
Sunny Boy3000HF
Sunny Central 630HE
Sunny Central 600HE
TriPower 17000TL
> First inverter on the market meeting medium voltage directive
> Including new features to reduce system costs
> Light inverter with galvanic separation
> Attractive and light design
> Modern display
> Useable for US-market as well
> Three phase concept to easy energy feed-in
> Highest efficiency
> Including many new features to reduce the system costs
> Targeted max η: 98%
> Targeted max η: 96%
> Targeted max η: >98%
> Targeted max η: 97.7% (300) 98.8% (600)
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
14
Technology leadership confirmed by external sources
Darling of the Team
Photon – Das Solarstrommagazin, Ausgabe Juli 2007
“Die Testergebnisse des Sunny Mini Central 8000 TL sind (…) so auβergewöhnlich gut, dass es kaum vorstellbar ist, derzeit noch ein besseres Gerät am Markt zu finden. (…) Da der Hersteller, die SMA Solar Technology AG, die Sunny Mini Central–Baureihe zudem zu äuβerst gϋnstigen Preisen anbietet, haben wir den Sunny Mini Central 8000TL zum »Liebling der Redaktion« gekϋrt.”
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
15
Flexibility
16
SMA has a powerful global sales and service infrastructure
> 170 sales professionals to serve customers locally
> World wide service support with more than 180 service employees
SMA aims to be the first mover in upcoming solar markets
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
17
Customer can trust on our flexible business model
Production capacity is not a limiting factor for SMA
SMA annual production capacity
Increase by 175% via interim solutions
World’s largest solar inverter factory
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
18
Key elements of SMA’s cultureLeadership awards – Selected examples
2007
Life Long Learning Award 2007
2006
Entrepreneur of the Year Award 2006
2008
Great Place to Work Award 2008
> Established organization with flat hierarchies and open door policy
> Continuous personnel training (5 training days per year & employee)
> Significant earnings participation of all employees (16% of pre-tax earnings)
> Low rate of employees’ absence related to sickness of 2.8% (SMA Germany) vs. a 3.2% on average in Germany in 2007
> Low employees fluctuation (0.7% in 2007)
Our special corporate culture fosters flexibility and innovation
SMA is also the employer of choice
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
2008
German Fairness Award 2008
19
Financials
20
193
327
690
2006 2007 2008E
Customers seek reliability of both the product and SMA
Strong company
> Established 1981
> Approx. 2,500 employees worldwide
> Export share c. 40%
> Clean balance sheet without refinancing needs
> TecDax company since September 2008
> 75% of shares are still owned by the founders
Strong sales growth (€m) (1)
Continuous market share gains(2) (MW)
Notes: (1) Sales 2008E is the upper corridor of SMA’s management guidance for 2008 (Ad-hoc message November 5, 2008)(2) Market share based on SMA’s inverter sales in 2007 (950MW) in relation to newly installed PV-market volume in 2007 (2,826MW) as reported in Solarbuzz LLC (March 2008).
For 2008E the market share figure is based on SMA’s estimates.
+90% p.a.
430
950
2200
2006 2007 2008E
+125% p.a.
25% 34%
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]
c. 40%
You can count on SMA for many years
21
Proinso
22
> Key player in the South European Market
– Long-term relationship with SMA;
– Frame delivery contracts with module manufactures vertically integrated along the supply chain (Solarworld, REC Solar, Trina, Nex Power);
– 80 MW modules delivered in 2008;
– 140 MW SMA inverters delivered in 2008;
– Distribution on exclusivity basis of dual-axis Mecasolar trackers
> International Strategy
– Win-Win approach to key customers and suppliers;
– Open of subsidiaries in key markets ( USA, Italy, Greece, East Europe);
– Flexible Structure according market development;
Proinso
Business catalyser at different stages of the value chain
Introduction | Market | Technology | Flexibility | Financials | [Customer] | [Synergies]