Despite the pandemic Solaredge concluded 2020 with slight growth in revenues
Post date: 17/02/2021 - 10:55
Inverter manufacturer Solaredge Technologies, Inc. reported revenues of $358.1 million in the fourth quarter 2020, up 6 percent from $338.1 million in the prior quarter and down 14 percent from $418.2 million in the same quarter last year. Revenues related to the solar business were $327.1 million, down 16 percent from $389.0 million in Q4 2019. Operating income was $14.4 million (Q4 2019: $50.5 million). Net income was $17.7 million, down 67 percent compared with $52.8 million in the same quarter last year. Inverter shipment was 1.36 GW (AC).
For the full Year 2020, the company achieved revenues of $1.46 billion, up 2 percent from $1.43 billion in the prior year. Operating income was $142.6 million (2019: $189.9 million). Net income was $140.3 million, down 4 percent from $146.5 million in the prior year. Inverter shipment was 6.1 GW (AC).
For the first quarter 2021 Solaredge expects revenues to be within the range of $385 million to $405 million.