SMA significantly increases profit in the first half-year

German SMA Solar Technology AG increased its operating earnings before interest, taxes, depreciation and amortization (EBITDA) from €24.0 million to €38.1 million in the first half of 2021 compared to the same period last year. The company sold inverters with a total capacity of around 6.8 gigawatts from January to June and generated sales of €488.3 million (H1 2020: €514.2 million euros). »Sales were somewhat lower compared to the previous year because small and medium-sized enterprises were still holding back on investments in the first few months of the year due to the ongoing uncertainties related to the Corona pandemic,« said SMA. Accordingly, demand in the Business Solutions segment fell short of expectations and prices dropped. In contrast, the Home Solutions and Large Scale & Project Solutions segments posted sales growth. The shortage of electronic components had a minor overall impact on the level of sales. Net income increased significantly to €13.3 million compared to €2.7 million in the first half of 2020.
Regarding at the 2nd quarter alone, sales were €247 million compared with €226 million in the same quarter of the previous year. Consolidated net income amounted to €5.3 million (Q2 2020: €3.0 million).
The SMA Managing Board confirms the sales and earnings forecast for fiscal year 2021 published in February, which envisages sales growth to €1,075 million to €1,175 million and an operating result (EBITDA) of €75 million to €95 million.
© PHOTON

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