SMA Solar Technology: Managing Board Decreases Forecast for Current Fiscal Year

Niestetal, Germany - The Managing Board of SMA Solar Technology AG is adjusting its sales and earnings forecast for the 2016 fiscal year.

The new forecast anticipates sales between 900 million Euro and 950 million Euro (previously 950 million Euro to 1,050 million Euro) and continues to anticipate a significant year-on-year increase in EBIT to between 60 million Euro and 70 million Euro (previously 80 million Euro to 120 million Euro). This forecast adjustment was mainly caused by price pressure emerging in all market segments worldwide since the middle of 2016 and numerous delays in major solar projects. Based on provisional figures, SMA achieved sales of more than 220 million Euro and EBIT of more than 20 million Euro in the third quarter of 2016. In the third quarter, the gross margin was around 25 percent. Net cash was more than 350 million Euro as of September 30, 2016.

Source: IWR Online, 24 Oct 2016