SMA swings to profit in first three quarters of 2020

Despite the coronavirus pandemic, the photovoltaic inverter maker was able to significantly increase its turnover and sales compared to the previous year.

November 12, 2020 Sandra Enkhardt

SMA's inverter business is performing extremely well. Sales increased significantly despite Covid-19.

Image: SMA

From pv magazine Germany

In the first three quarters of 2020, SMA Solar Technology AG was able to increase its sales of photovoltaic inverters from 7.5 GW in the first three quarters of 2019 to 10.7 GW. At the same time, sales increased by 23%, to €774 million.

The home and business solutions segments and strong project business were responsible for this growth, the manufacturer said.

SMA was also able to significantly improve its operating earnings before interest, taxes, depreciation, and amortization (EBITDA), which rose year-on-year from €26 million to €41 million, and its net result, which swung from a loss of €11 million to a profit of €9 million.

According to SMA, the equity ratio was 43% and net liquidity €194 million at the end of September.

The company's management board confirmed its forecast for the full fiscal year. SMA expects to increase sales to between €1.0 billion and €1.1 billion. EBITDA is expected to be between €50 million and €80 million.

“We are monitoring the development of the corona[virus] crisis very closely so that we can continue to react quickly at any time. The management board continues to assume that SMA will achieve its sales and earnings forecast in the current fiscal year, ”said SMA management board spokesman Jürgen Reinert. “In the long term, we see great potential for SMA in the global restructuring of the economy towards more sustainability and, ultimately, climate neutrality.”

Politicians in Germany, Reinert went on to say, should use the reform of the EEG to accelerate the urgently needed growth of photovoltaics. “The promotion of self-consumption of inexpensive and clean solar energy by residential and commercial users plays a central role.”

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