SMA unable to process high order intake due to component shortage
Post date: 11/05/2022 - 14:36
Although SMA Solar Technology AG recorded an order backlog of just under €1.05 billion ($1.11 billion for its report on the first quarter of the year, which is up 25.6 percent from the previous quarter, sales declined by 8.2 percent to €220.6 million (Q4 2021: €240.4 million). Net profit was also down from €8.0 million to €3.0 million ($3.2 million).
Of the order backlog, more than half, at €572.1 million ($603.6 million), was attributable to product business of the German inverter and systems technology provider, which also offers services for solar power plants. Order intake in the first quarter was the highest in the last ten years, according to a statement.
SMA cites » the continued tight situation with the supply of electronic chips« as the main reason for the mismatch between orders and earnings. However, the company expects to be able to book the bulk of the product-related order backlog as sales by the end of the year. For the coming years, SMA expects »significant market growth both for our core business of photovoltaics and for battery-storage systems, energy management, e-mobility and hydrogen production as fields for the future.« The company will be able to benefit from this »once the component shortage has been overcome«.
The Managing Board is sticking to its forecast for the full year published on March 1 and expects sales of €900 million to €1.05 billion ($1.11 billion) and operating earnings before interest, taxes, depreciation and amortization (EBITDA) of €10 million to 60 €million ($63.3 million).