SMA increased sales and income

SMA increased sales and income

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© SMA Solar Technology AG

German inverter manufacturer SMA Solar Technology AG increased from January to September 2016 sales by 3.2% year-on-year to €708.8 million ($783 million) compared to €686.9 million ($759 million) in Q1-Q3 2015. Operating earnings (EBIT) increased to €59.4 million (Q1-Q3 2015: €9.9 million). According to the company, the main earnings driver was the segment for large-scale PV power plants (Utility). In addition, the segment for commercial PV systems (Commercial) continued its positive business performance. From January to September 2016, SMA sold PV inverters with a cumulative power of 5.7 GW (Q1-Q3 2015: 5.0 GW). SMA's international share of sales has been 90% (Q1-Q3 2015: 86.9%). Consolidated earnings amounted to €36.9 million (Q1-Q3 2015: €-13.7 million). The SMA Managing Board confirms its sales and earnings forecast for fiscal year 2016 adjusted on October 24, 2016. This forecast anticipates sales of €900 million to €950 million and a significant increase in operating earnings (EBIT) year on year to between €60 million and €70 million. © PHOTON

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