SMA Solar with strong third quarter and declining order backlog

SMA Solar Technology AG continued its growth in the third quarter. The inverter and system technology provider generated sales of € 558.5 million (previous year: € 252.3 million) with a gross profit of € 167.2 million (previous year: € 58.4 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 96.3 million, a good € 73 million higher than in the same period of the previous year (€ 23.2 million). The order backlog remained at a very high level of € 2.0 billion as of September 30, 2023 (September 30, 2022: € 1.7 billion). The product business accounted for € 1.6 billion (September 30, 2022: € 1.3 billion). However, the order backlog has decreased significantly compared to the two previous quarters of approximately € 2.5 billion each (of which € 2.1 billion related to the product business).
SMA's Executive Board confirmed the sales and earnings forecast for the fiscal year 2023, which was again adjusted upwards on October 4, 2023. This forecast assumes revenues of € 1.8 to € 1.9 billion and EBITDA of € 285 to € 325 million.
© PHOTON