SMA lowers annual forecast due to supply bottlenecks for electronic components

The Managing Board of SMA Solar Technology AG is lowering its forecasts for sales and earnings in the current fiscal year. The company now expects sales of between €980 million and €1,030 million ($1,157 million to $1,216 million) for 2021 from previously expected €1,075 million to €1,175 million. Accordingly, EBITDA is expected to be between €50 million and €65 million (previously €75 million to €95 million). Background is the »undersupply of electronic components currently affecting the entire electronics industry«.
Due to the latest cancellations of firmly promised delivery quantities, the situation for SMA has »contrary to expectations, become significantly worse in the short term«. In addition, project developers and investors are postponing the implementation of larger PV projects until the following year, says Managing Board spokesman Jürgen Reinert. However, the company still expects sales in the second half of the year to be higher than in the first half, but »in our estimation below the most recently forecast level.« According to Reinert, however, »the very good medium-term business prospects« for SMA have not changed.
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