SMA lowers sales and earnings guidance for 2018

German inverter manufacturer SMA Solar Technology AG lowers sales and earnings guidance and expects sales of only €760 million to €780 million ($863 million to $885 million) for 2018, compared to previously €800 million to €850 million ($908 million to $965 million). »Contrary to expectations, the decline in business recorded since September continued in November,« says the company. SMA continues to expect sales growth and positive EBITDA for 2019.
»The Managing Board has decided early on to adapt the company’s structures to the changed conditions that are characterized by continued strong price pressure,« explained SMA CEO Jürgen Reinert. »We expect to close the discussions with the works council on the planned restructuring measures soon. We will then start with the implementation at the beginning of next year.«
© PHOTON

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