SMA Solar Action Forum

14.11.2024

Spotify share price records tumble thanks to customer popularity + SMA Solar cuts its annual targets again + ASML continues to focus on AI boom

The shares of Spotify $SPOT (+2,47 %) shares soared to a record high on Wednesday following the music streaming provider's strong quarterly figures. At its peak, it rose by more than 10 percent to a good 462 US dollars. It was the fifth consecutive trading day with a record high for the shares. Since the beginning of the year, the shares have gained more than 140 percent. Since their record low in November 2022, the shares have increased almost sevenfold. Following this rally, the company's market capitalization amounts to more than 92 billion dollars. Spotify recorded 252 million paying subscribers in the third quarter, 12 percent more than a year earlier. The number of monthly active users, a key figure taken into account by advertisers, rose by eleven percent to 640 million. Both trends were stronger than experts had expected. Turnover climbed by almost a fifth to just under 4 billion US dollars.

The inverter manufacturer SMA Solar $S92 (-9,23 %) has again lowered its expectations for the current year. The company announced late Wednesday evening that it now expects sales of 1.45 to 1.50 billion euros. The targets lowered in mid-June had been 1.55 to 1.70 billion euros. Experts had previously expected 1.54 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) are now expected to be between minus 20 million euros and plus 20 million euros. Previously, the target had been 80 to 130 million euros. Analysts are actually expecting just under 95 million euros. The company referred to the ongoing market weakness in the Home Solutions and Commercial & Industrial Solutions segments. In addition, the restructuring and transformation program announced in September 2024 would have an impact. These one-off effects, such as write-downs on inventories and restructuring expenses, are expected to total between 100 and 140 million euros. In addition, balance sheet write-downs as part of the annual financial statements are expected to lead to a further reduction in earnings before interest and taxes (EBIT) of EUR 20 to 30 million. According to the press release, the amount of the provisions is still subject to further review. The company also expects to cut up to 1,100 full-time positions worldwide.

The chip industry supplier ASML $ASML (+4,18 %) is sticking to its broad long-term targets despite the recent difficult business situation. The increasing importance of artificial intelligence is also expected to provide momentum. Sales are set to rise to between 44 and 60 billion euros by 2030, the Group announced at a capital market day on Thursday. By way of comparison, the Dutch company had only lowered its sales forecast for 2025 to between 30 and 35 billion euros in mid-October. A gross margin of 56 to 60 percent of turnover is expected in 2030. The specialist for so-called lithography systems for the production of state-of-the-art computer chips, which are also important for AI applications, has recently felt a certain reluctance to buy on the part of customers. Many chip manufacturers had partially curtailed their investment plans, partly due to the sluggish development of electromobility. Added to this is the technology dispute between China and the USA with the debate on export bans for state-of-the-art chip production systems to China. However, ASML CEO Christophe Fouquet remains confident. The long-term prospects for the semiconductor industry remain promising, as semiconductors play a decisive role in the implementation of numerous megatrends in society, he said on Thursday, according to a press release. In addition to the growth potential of several other important end markets, the AI trend offers a significant opportunity for the semiconductor industry.

Thursday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Shell USD 0.34

Exxon Mobil USD 0.99

GSK 0.15 GBP

Quarterly figures / company dates USA / Asia

12:30 Walt Disney Quarterly figures

Quarterly figures / company dates Europe

07:00 Swiss Re | Bilfinger | Deutsche Telekom | Eon | K+S | Merck | Siemens | SMA Solar | Cewe Foundation | Grenke | Wacker Neuson | Grand City Properties Quarterly figures

07:30 Prosiebensat1 | Nagarro | Talanx | Adesso | Aumann | Dermapharm | GFT Technologies | Hamburger Hafen | Hapag-Lloyd | Mister Spex quarterly figures

07:35 MLP SE, 9 months results

07:45 Eckert & Ziegler quarterly figures

07:50 MBB | Energiekontor quarterly figures

08:00 Jost Werke | Burberry quarterly figures | Siemens | Talanx PK

08:30 Baywa | Foxconn quarterly figures | Baywa analyst conference

09:30 Merck PK

10:00 Deutsche Telekom PK | K+S Analyst Conference

10:30 Baywa PK

11:00 Borussia Dortmund quarterly figures | Eon analyst conference

11:30 Grenke PK

12:30 Walt Disney quarterly figures

13:00 Wacker Neuson Earnings Call | Nagarro Analyst Conference

13:30 SMA Solar Analyst Conference

14:00 Merck | Aumann | GFT Technologies Analyst Conference

14:30 Volvo AB Capital Markets Day

16:30 Biontech: 'Innovation Series Day' on research & development via webcast

18:00 Deutsche Euroshop 9 months results

18:10 Patrizia result 9 months

Without time information: Allgeier | Einhell quarterly figures

Economic data

11:00 EU: GDP (2nd release) 3Q Eurozone FORECAST: +0.4% yoy/+0.9% yoy 1st release: +0.4% yoy/+0.9% yoy 2nd quarter: +0.2% yoy/+0.6% yoy

11:00 EU: Industrial Production September Eurozone FORECAST: -1.2% yoy/-1.6% yoy previous: +1.8% yoy/+0.1% yoy

14:30 US: Initial jobless claims (week) FORECAST: 220,000 previous: 221,000

14:30 US: Producer prices October PROGNOSE: +0.2% yoy previous: 0.0% yoy Core rate (excluding food and energy) PROGNOSE: +0.3% yoy previous: +0.2% yoy

$S92 (-9,23 %)

📉 SMA Solar Technology AG: An underestimated opportunity despite scaremongering 📈

- 📊 Share price declineSMA Solar Technology AG has fallen to the sales level before the last hype. P/B ratio is at 0,73which indicates a clear undervaluation indicating a clear undervaluation.

- 🛡️ Financial stability: With an Altman Z-Score of 7 the company is financially stable.

- 🚫 Varta comparison unfounded: Despite challenging market conditions and high inventories, SMA remains strong, continues to invest in production capacities and demonstrates confidence in future growth.

- 🎯 Price target of €25: In the next three quarters, SMA could show that there is potential for recovery. A decisive release is due in 6 days coming up - more insights to follow!

The downturn has simply massively overshot what was there before the hype in terms of price and figures and the share is where it is now purely because of negative momentum.

💡 ConclusionSMA Solar offers an attractive opportunity for patient investors. Despite short-term setbacks, the company remains strategically and financially well positioned.

⚠️ NoteThis is not investment advice.

$S92 (-9,23 %)

What is your opinion on the StaRUG?

Will the shareholders be expropriated when the cash runs out?

26.09.2024

Tilray: In the fast lane with HDD9 drinks + SMA Solar is cutting back - job cuts likely + SAP is being targeted by the US Department of Justice + 50,000 Wirecard shareholders can hope for a little cash + Delivery Hero rally continues - 12-month high

The US investment bank Jefferies has raised its rating for Tilray $TLRY (-3,65 %) to "Buy" with a price target of 2.50 dollars. Based on the current share price, this corresponds to a potential return of 48%. In his current study, analyst Kaumil Gajrawala highlighted the launch of a new range of beverages containing hemp-derived Delta-9-THC (HDD9). These products are expected to be available in key US markets from October 2024.

https://de.investing.com/news/stock-market-news/tilray-mit-hdd9drinks-auf-die-uberholspur--jefferies-sieht-49-potenzial-2715190

The weakening inverter manufacturer SMA Solar $S92 (-9,23 %) wants to make substantial savings due to the problems in the business with private and commercial solar systems and is also likely to cut jobs. The Managing Board intends to launch a restructuring and transformation program that is expected to result in cost savings of 150 to 200 million euros, as the SDax company announced late Wednesday evening in Niestetal, Hesse. The sales development in the Home Solutions and Commercial & Industrial Solutions segments continues to be significantly influenced by persistently high inventories at dealers and installers as well as a generally very challenging market environment, it said. The share price rose by two percent after the close of trading on the Tradegate trading platform compared to the Xetra close. "In order for SMA to remain an integral part of the global energy transition in the future, we must now position ourselves better and for the future," said CEO Jürgen Reinert according to the press release. He wants to use the cost-cutting program to stabilize the company financially in the short term and realign it on the market.

SAP $SAP (+1,07 %) was under pressure to sell following a report that the company in the USA, as well as the US IT reseller Carahsoft, had been targeted by the US Department of Justice. Since at least 2022, lawyers have been investigating whether the German software group had entered into possible price agreements with Carahsoft in order to obtain excessive prices from the US Army and other US authorities. This is according to court documents filed, reported the news agency Bloomberg. An SAP spokesperson did not want to comment on this when asked by Dow Jones Newswires.

Following a new decision by the Munich Higher Regional Court, a good 50,000 Wirecard $WDI -shareholders can hope for compensation in the insolvency proceedings for the time being. The fifth senate of the Higher Regional Court has decided that Wirecard shareholders can file their claims in the insolvency proceedings. The lawsuit against the insolvency administrator Michael Jaffé was brought by the asset management company Union Investment, which had purchased Wirecard shares for 33 of its clients between 2015 and 2020. First reported by the "Süddeutsche Zeitung". The case is not yet closed. It is a so-called "interim judgment"; the judges in the case did not decide on the grounds or the amount of the claims for damages filed by Union Investment.

The mood of optimism among investors in Delivery Hero $DHER (-0,23 %) continued on Wednesday. The shares continued their rapid recovery, which began at the beginning of August, with a 7.7 percent jump in price to EUR 34.53. This was the first time in more than a year that they had exceeded the EUR 34 mark. The old highs from November 2023 and April 2024 were recently close to this level, but the increase was recently put back into perspective to almost 5%. Recently, the prospect of an IPO of the rapidly growing Middle East and North Africa brand Talabat, among other things, has been arousing the imagination of investors, who have been used to a lot of grief since the record high from the coronavirus era. In January 2021, up to EUR 145 was paid when the pandemic lockdowns triggered hype around online services. In the spring of this year, the sell-off then ended at a level of just under EUR 15, from which there have only been temporary recovery rallies so far. In July and August, the shares came even closer to the low.

Thursday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

British American Tobacco 0.59 GBP

Philip Morris International 1.35 US

Quarterly figures / company dates USA / Asia

17:00 Intuit Investor Day

22:00 Costco Wholesale quarterly figures

Quarterly figures / Company dates Europe

07:00 KWS Saat detailed annual results + annual report

08:00 Verbio annual results and annual report | Hennes & Mauritz 9-month results

10:00 KWS Saat BI-PK

11:30 BASF Capital Markets Day, Day 1

14:00 Verbio Earnings-Call

Untimed: Thyssenkrupp: Supervisory Board meeting at Thyssenkrupp Steel

Economic data

• 08:00 DE: GfK consumer climate indicator September FORECAST: -21.3 points previously: -22.0 points
• 09:30 CH: Swiss National Bank (SNB), outcome of the Monetary Policy Council meeting
• 10:00 EU: ECB, M3 money supply and lending August M3 money supply FORECAST: +2.6% yoy previously: +2.3% yoy
• 14:30 US: New orders for durable goods August PROGNOSE: -3.0% yoy previous: +9.8% yoy
• 14:30 US: GDP (3rd release) 2Q annualized PROGNOSE: +3.0% yoy 2nd release: +3.0% yoy 1st quarter: +1.4% yoy GDP deflator PROGNOSE: +2.5% yoy 2nd release: +2.5% yoy 1st quarter: +3.1% yoy
• 14:30 US: Initial jobless claims (week) FORECAST: 223,000 Previous: 219,000

$S92 (-9,23 %)

Habeck has mercilessly shorted Germany

game over

08.08.2024 +
Munich Re increases profit more than expected + Decline in earnings at SMA Solar + Disney's streaming business in the black for the first time + Varta to be rescued

By the middle of the week, the DAX had made up for its heavy losses at the start of the week.

the beginning of the week. However, the New York stock market had already fallen again in the course of the week.

down again. The stock markets have been in a bumpy ride since the price slump triggered by recession worries in the

USA triggered by recession worries.

The Austrian entrepreneur Michael Tojner wants to use a financial injection of millions of euros to take over the crisis-ridden battery manufacturer Varta $VAR1 (+0,11 %) as a single entity. "I am not in favour of selling off parts of the business, but of stabilizing the entire group in order to give it the chance to continue working with all business units and to preserve jobs," Tojner told the Frankfurter Allgemeine Zeitung. Varta AG needs around 100 million euros to secure production for the next few years. "Part of the new equity would come from us, the rest from banks and Porsche. However, we would also undertake to subscribe additional money if this should be necessary for the restructuring," Tojner continued. (FAZ)

The world's largest reinsurer Munich Re $MUV2 (+0,63 %) remains cautious with its profit forecast, as expected, despite a very good result in the second quarter. "Our profit target for the year as a whole remains unchanged at 5.0 billion euros," said Group CEO Joachim Wenning on Thursday when presenting the figures for the second quarter in Munich. "However, the chances of achieving or even exceeding this target have increased further thanks to the strong half-year results." In the first six months of the year, Munich Re earned 3.76 billion euros, 55 percent more than a year ago, partly due to good business on the capital markets. The company thus exceeded experts' expectations.

The inverter manufacturer SMA Solar $S92 (-9,23 %) performed better than expected in the first half of the year. Sales fell by 2.5 percent to a good 759 million euros, as the company announced on Thursday in Niestetal, Hesse. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) even fell by more than a third to just under 81 million euros. The bottom-line profit fell even more sharply to a good 44 million euros. However, analysts surveyed by the Bloomberg news agency had expected a weaker performance. SMA confirmed the annual targets lowered in mid-June. Since then, the Managing Board has expected sales of €1.55 to 1.7 billion and EBITDA of €80 to 130 million for 2024.

Disney's $DIS (+5,85 %) streaming and film business shifted up a gear in the past quarter, making up for the shortfall in the theme park division. The entertainment giant's streaming unit, which includes the flagship platform Disney+, Hulu and the sports-focused ESPN+, became profitable a quarter earlier than planned and generated an operating profit of 47 million US dollars on revenues of 6.38 billion dollars, according to Disney. Overall, Disney earned 2.62 billion dollars in the quarter under review, following a loss of 460 million dollars in the previous year, when the US group had to record considerable restructuring and impairment costs. Group sales rose by 3.7 percent to 23.16 billion dollars in the third quarter. This is more than analysts had expected: The Factset consensus estimate had been for a net profit of 1.94 billion dollars and sales of 23.08 billion dollars. Disney was more confident for the current financial year and raised its forecast for adjusted earnings per share growth to 30 percent from the previous 25 percent. The previous day, Disney had announced a new round of price increases for almost all of its streaming offerings, which will take effect in October.

Thursday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Astrazeneca 0.7760 GBP

BP 0.0629 GBP

Unilever 0.3696 GBP

Quarterly figures / company dates USA / Asia

22:00 Expedia | News Corp Quarterly figures

Quarterly figures / Company dates Europe

06:45 Basler | Zurich Insurance Half-year figures

07:00 Allianz | Deutsche Telekom | Knorr-Bremse | Siemens quarterly figures

07:00 SMA Solar | Ströer | Aareal Bank | Grenke Quarterly figures

07:00 Hamborner Reit | Knaus Tabbert | Synlab quarterly figures

07:30 Munich Re | Prosiebensat1 | Rheinmetall | Scout24 | Bike24 quarterly figures

07:30 Deutz | Dürr quarterly figures

07:30 GFT Technologies | Instone | SGL Carbon | SNP Schneider quarterly figures

07:30 Uniper | SAF-Holland | United Internet quarterly figures

07:50 1&1 Half-year figures

08:00 Deutsche Beteiligungs AG | Leifheit | OHB | Westwing | CRH | Deliveroo quarterly figures | Siemens PK

08:30 Prosiebensat1 PK | Uniper Analyst Conference

09:00 Ionos half-year figures | Ströer | Deutz analyst conference | Munich Re PK

09:30 Siemens Analyst Conference

10:00 Deutsche Telekom PK

11:00 Allianz PK | Munich Re Analyst Conference

11:30 Grenke PK | United Internet BI-PK

13:30 SMA Solar Analyst Conference

14:00 Rheinmetall | SGL Carbon Analyst Conference

14:30 Allianz Analyst Conference

15:00 Scout24 | Dürr Analyst Conference

Economic Data

• 14:30 USInitial Jobless Claims (week) FORECAST: 240,000 Previous: 249,000

$S92 (-9,23 %)

14 euros are getting closer 💶

SMA Solar adjusts forecast downward

$S92 (-9,23 %)
SMA Solar Technology AG adjusts sales and earnings forecast for the current fiscal year 2024

The Managing Board now expects sales of between €1,550 million and €1,700 million (previously: €1,950 million and €2,220 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of between €80 million and €130 million (previously: €220 million and €290 million). In accordance with the applicable accounting standards, any changes in balance sheet depreciation and amortization are assessed and taken into account where necessary when preparing the half-year financial statements.

In addition to a persistently volatile market, the reason for the adjustment of the forecast is the delayed increase in incoming orders due to the continued high inventory levels at distributors and installers. As a result, sales and earnings in the Home Solutions and Commercial & Industrial Solutions segments are below expectations. In addition, the outcome of the European elections and the upcoming elections in the USA on November 5 have created new uncertainty in the market. The Large Scale & Project Solutions segment continues to develop in line with expectations. The Management Board continues to expect a strong increase in turnover and EBITDA for the year as a whole compared to the previous year.

Solar shares still interesting for you?

SMA Solar ($S92 (-9,23 %) ) and Morphosys ($MOR ) could have to leave the MDAX according to current reports.

This could mean a significant change for both companies and have an impact on their share prices. Investors should keep a close eye on this development and adjust their strategies accordingly.

#Börse
#MDAX
#SMA
#Morphosys
#Aktien

https://www.handelsblatt.com/finanzen/maerkte/aktien/mdax-sma-solar-und-morphosys-muessen-wohl-abschied-vom-mdax-nehmen/100042285.html

Will $S92 (-9,23 %) still run to 0 today....that makes you dizzy 🫠