SMA improves operating result and profit
Post date: 12/05/2021 - 11:41
SMA Solar Technology AG improved its operating result (EBITDA) for the first quarter of 2021 compared to the same period of the previous year from €12.3 million to €20.1 million ($24.4 million). At the same time, sales fell from €287.9 million to €240.4 million ($292 million). According to the company, sales in the first quarter of the previous year included »an exceptionally large project in the USA.« Other reasons for the year-on-year decline in sales were mainly the postponement of orders due to the global Corona pandemic and an increase in the price of solar modules.
The consolidated result improved to €8.0 million ($9.7 million), up from minus €0.3 million in Q1 2020. The SMA Group sold inverters with a cumulative output of around 3.4 GW in the first quarter.
Demand is expected to pick up in the core markets in Europe and the U.S., said SMA CEO Jürgen Reinert. For the medium- to long-term market development, the latest political signals are positive, including the announcement by the U.S. to launch an infrastructure program with significant investments in a climate-friendly economy, the announcement of a new climate protection law in Germany and an increase in expansion targets for renewable energies. SMA has so far been able to avoid any impact on device sales due to the tight situation in the supply of electronic components.
The Managing Board confirms the sales and earnings forecast for fiscal year 2021, which envisages growth to €1,075 million to €1,175 million and an operating result (EBITDA) of €75 million to €95 million.