SMA reports strong revenue and profit drop for 2013

SMA recorded a 36.6% decline in sales for 2013.

German inverter manufacturer SMA Solar Technology AG recorded a €66.9 million loss in 2013 after seeing its revenue cut by 36.3%. SMA recorded total sales of €932.5 million ($1.37 billion) for 2013, down from €1.5 billion in the prior year. The company’s operating result fell from a profit of €102 million last year to a loss of €89.1 million this year. Net loss for 2013 amount to €66.9 million. In 2012, the company posted a net profit of €75.1 million. During last year, SMA sold 5.4 GW of inverters, down considerably from 7.2 GW in 2012. The company said that the shipment and revenue decline was mainly due to weak demand in the European market and to high price pressure.
Looking forward, the company expects to generate revenues in amount of €170 million to €200 million in the first quarter of this year. Furthermore, the company expects to record for the period an operating loss of €20 million to €25 million. For the full fiscal year 2014, the company confirms its previously released outlook of a increase in sales to between €1.0 and €1.3 billion and a positive operating result.

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