SMA decreased significantly revenue and income in 1H 2017
Post date: 10/08/2017 - 20:26
In the first six months of 2017, German inverter manufacturer SMA Solar Technology AG sold PV inverters with a total output of 3.8 GW, which was thus on a par with the previous year (H1 2016: 3.9 GW). Sales fell to €381.1 million ($447 million) compared to €482.3 million in the first half of 2016 »due to the overall drop in prices in all segments and regions.« SMA achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of €29.0 million (H1 2016: €71.2 million). Net income amounted to €8.8 million in the first half of 2017 (H1 2016: €19.4 million). Net cash rose to €401.6 million (December 31, 2016: €362.0 million). For the second half of the year, »we expect the business to significantly pick up again based on strong incoming orders in all markets,« explained SMA’s CEO Pierre-Pascal Urbon.
On August 1, the Managing Board raises its sales and earnings forecast for 2017. The new forecast predicts sales of €900 million to €950 million (previously: €830 million to €900 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of €85 million to €100 million (previously: €70 million to €90 million). As reasons for raising the forecast, the Managing Board cites the high order-intake, which has been increasing since the beginning of 2017. The order backlog increased by 25 percent in the first six months of the year and amounted to roughly €673 million as of June 30, 2017.