Inverter builder SMA swings to profit in first three quarters of 2020, grows despite pandemic

Despite the coronavirus pandemic, the photovoltaic inverter maker grew its revenue compared to the previous year.

November 16, 2020 Sandra Enkhardt

Image: SMA Solar Technologies AG

SMA Solar Technology was able to increase sales of its photovoltaic inverters from 7.5 GW in the first three quarters of 2019 to 10.7 GW in the first three quarters of 2020. At the same time, sales increased by 23%, to $916 million.

SMA improved its operating earnings before interest, taxes, depreciation, and amortization (EBITDA), which rose year-on-year from $30.7 million to $48.5 million, and swung the company from a loss of $13 million to a profit of $10.6 million.

According to SMA, the equity ratio was 43% and net liquidity was $229.6 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 $1.1 billion and $1.3 billion. EBITDA is expected to be between $59.1 million and $94.7 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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