PV MagazineFebruary 7, 2020697
SMA Solar Technology AG sold 11.4 GW of solar power inverters last year, according to its preliminary financial results. Those solar energy shipments marked an increase of 34% on 2018 while sales grew, year-on-year, from €761 million to €915 million, beating the board’s forecasts.
EBITDA improved from a loss of €69.1 million in 2018 to a profit of €35 million and the EBIT losses calculated without depreciation and amortization being factored in narrowed from €152 million to €11 million. “Depreciation and amortization are expected to be approximately €45 million,” the solar company said.
The figures have prompted optimism from the SMA board, which has predicted turnover of €1-1.1 billion this year and EBITDA of €50-80 million as it expects much from Europe and America as well as the solar energy storage sector.
“After a difficult 2018, we successfully implemented a range of measures aimed at reducing costs and increasing sales in 2019,” said board member Jürgen Reinert. “We regained market shares in our core business and continued SMA’s evolution into a systems and solutions provider by introducing system packages for private and commercial applications.”
“We will continue along our successful path and expect a further increase in sales and earnings in 2020,” Reinert said.
SMA added, further cost-cutting measures are due to be implemented this year.
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