SMA Solar: Most Successful Quarter in Company’s History

SMA Solar Technology AG, the world market leader for photovoltaic inverters, reported the best Q1 results in company history.

With many investors  wanting to lock-in the current solar feed-in tariffs (before the cuts recently passed by the German parliament), SMA Solar’s sales jumped to EUR 339 million after EUR 86.7 million in Q1 2009. Profits increased even more. In Q1, SMA Solar achieved an operating profit (EBIT) of EUR 92.4 million (Q1 2009: EUR 6.0 million). The EBIT margin of 27.2 % was only slightly below the record value of 28.7 % achieved in the fourth quarter of 2009 (Q1 2009: 6.9 %). SMA Solar’s consolidated net profit increased to EUR 66.6 million (Q1 2009: € 5.5 million).

Supply bottlenecks, mainly for semiconductors, hamper further growth. SMA is currently not able to raise its production significantly beyond the output volume of the fourth quarter of 2009, as originally intended. This means that SMA can use the new inverter production in Kassel-Waldau, established in the first quarter of 2010 with an additional capacity of 5 GW p.a., to a low degree only. SMA Solar’s managing board expects the supply situation to improve successively in the second half of the year.

The managing board confirmed its sales forecast for 2010 of between EUR 1.1 bis 1.3 billion.

Source: SMA Solar

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