SMA records decline in sales and profits with 1.8 GW of inverter capacity sold
Post date: 09/05/2019 - 17:54
SMA Solar Technology AG sold inverters with an output of 1.8 GW in the first quarter of 2019 and thus remained at the previous year's level. Compared with the first three months of the previous year, revenue fell by 8.1 percent to €167.8 million ($150 million) compared to €182.5 million ($162 million) in Q1 2018. According to the company, this was »attributable in particular to the still weak project business in the first quarter, while sales of string inverters remained at the previous year's level.« Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to €0.6 million ($0.7 million) from January to March 2019 (Q1 2018: €17.5 million). Consolidated earnings in the first quarter of 2019 amounted to minus €10.6 million ($11.8 million), compared to profit of €2.8 million in Q1 2018. As of March 31, the order backlog had increased by 33 percent to €233.2 million ($261 million). In the segment of large photovoltaic power plants the company expects sales and earnings in the second half of the year.
The SMA Management Board confirms the sales and earnings forecast for the 2019 financial year. With sales of €800 to €880 million, it envisages operating earnings before interest, taxes, depreciation and amortization (EBITDA) of €20 to €50 million.