SMA Solar Technology AG Announces Comprehensive Restructuring Program

SMA Solar Technology AG has launched a company-wide restructuring and transformation program amidst challenging market conditions. The initiative seeks to enhance efficiency and refocus strategic priorities while achieving cost savings between EUR 150 to 200 million.

The program, discussed by the Managing Board and Supervisory Board on 25 September, targets three primary areas: cost structure optimization, organizational and operational adjustments, and strategic market repositioning. CEO Jürgen Reinert emphasized the importance of positioning SMA for future growth within the renewable energy sector.

This program aims to stabilize the company's finances in the short term and reassess its business strategy in the medium and long term. CFO Barbara Gregor highlighted the need for increased profitability and financial stability, stressing the importance of prompt and consistent implementation.