Supply problems cause SMA to slip into the red

German inverter and system technology provider SMA Solar Technology AG continues to struggle with electronic component procurement issues, citing this as the main reason why sales and returns for the first half of 2022 are down despite a strong order intake.
SMA posted sales of €471.8 million ($484.3 million) from January to June, down 3.4 percent from €488.3 million in the same period last year. Earnings before interest and taxes (EBIT) were €-2.8 million ($-2.9 million), compared with a surplus of €17.1 million in the same period last year. The consolidated result for the first half of the year was negative at -10.6 million ($-10.9 million), 2021 saw a plus of €13.3 million. The inverter capacity of 5.8 gigawatts shipped in H1 2022 was almost 15 percent below the first half of 2021 (6.8 gigawatts).
The second quarter in particular clouded the half-year balance. From April to June, SMA generated sales of €251.3 million ($257.9 million), slightly more than in the second quarter of 2021 (€247.9 million), but EBIT of €-8.3 million ($-8.5 million; Q1 2021: €7.7 million) was just as clearly negative as the consolidated result of €-13.6 million ($-14.0 million; Q1 2021: €5.3 million). In the first quarter of 2022, SMA had still achieved a consolidated result of € 3.0 million.
Despite the declining half-year figures, the Managing Board maintains its forecast for the full year, which envisages sales of €900 million to €1.05 billion ($924 million to $1.08 billion) and earnings before interest, taxes, depreciation and amortization (EBITDA) of €10 million to €60 million ($10.3 million to $61.6 million).

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