March 30, 2017 / 10:26 AM / 8 months ago

SMA Solar hoards cash for potential crisis, not M&A -CFO

FRANKFURT, March 30 (Reuters) - SMA Solar, Germany’s largest solar group, is holding on to its cash pile to cope with an eventual downturn of the industry, its finance chief said, adding takeovers were not on the agenda after the group presented full-year results.

“We are preparing for eventually difficult times,” Ulrich Hadding told journalists at its annual press conference, pointing to the group’s operating cash flow of 148 million euros ($159 million) at the end of 2016, up 44 percent on the year. ($1 = 0.9314 euros) (Reporting by Christoph Steitz; Editing by Arno Schuetze)

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