SMA records sales volume, revenue and profit decline in the first half of the year
Post date: 13/08/2019 - 16:55
In the first half of 2019, SMA Solar Technology AG sold inverters with a total output of around 4.0 GW (H1 2018: 4.3 GW). Compared with the first half of 2018, revenue fell by 8.1 percent from €394.6 million to €362.7 million ($404.4 million) in H1 2019. This was »attributable in particular to the still weak project business in the first half of the year«. In the area of private rooftop systems, SMA recorded »a significant increase in revenue«.
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) from January to June 2019 amounted to €8.5 million (H1 2018: € 40.9 million including positive special effects). In the first half of 2019, consolidated net income amounted to minus €14.2 million (H1 2018: €11.2 million).
In the Large Scale & Project Solutions segment in particular, incoming orders developed positively in the first half of the year and the SMA Executive Board expects a »significant increase in sales and earnings« in the second half of the year. As of June 30, 2019, SMA had a product-related order backlog of €453.1 million, an increase of 158 percent compared to the same period of the previous year. In the Home Solutions segment, SMA generated around 21 percent more revenue than in the same period of the previous year. In the Large Scale & Project Solutions segment, on the other hand, which accounts for a large proportion of the order backlog, the implementation of projects generally takes four to ten months. »Accordingly, we expect a significant increase in sales inl the second half of the year,« said the Executive Board.
SMA confirms the sales and earnings forecast for the 2019 financial year. With sales of €800 million to €880 million, it envisages operating earnings before interest, taxes, depreciation and amortization (EBITDA) of €20 million to €50 million.