SMA expects significantly higher sales and profit after »turbulent« fiscal year

SMA Solar Technology AG has published its preliminary figures for 2022, which was »a turbulent year, but a successful one for SMA.« The German inverter and system technology provider exceeded the previous year (€ 983 million), which was characterized by supply bottlenecks, by 8.4 percent with sales of € 1.07 billion ($ 1.14 billion) and has thus reached the level of 2020 (€ 1.03 billion) again. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 724 percent to € 70.0 million (2021: € 8.5 million).
The reasons given for this improvement are both »the persistently high demand and gradual improvements in the supply of electronic components.« Since the significant increase in sales and the even more significant increase in profits were achieved despite a nine percent drop in inverter capacity sold to 12.2 gigawatts (GW; 2021: 13.6 GW), increased prices presumably also played a role in the development.
At € 2.08 billion ($ 2.21 billion), the order backlog at December 31, 2022 was 135 percent higher than at the same point in the previous year (€ 887 million). The bulk of this, at € 1.7 billion, is attributable to the product business of the company, which is also active in the planning and operational management of solar power plants. For 2023, SMA therefore expects significant increases in sales, which it estimates at € 1.35 billion to € 1.50 billion, and in EBITDA, for which it forecasts € 100 million to € 140 million. However, »the challenges on the procurement side caused by ongoing supply problems with individual components« have not yet been fully overcome. SMA will publish audited figures for 2022 on March 30.
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