SMA Solar said it expected to report preliminary 2015 revenue of around €1.0 billion, exceeding revised guidance and a return to profitability.
Leading PV inverter manufacturer SMA Solar said it expected to report preliminary 2015 revenue of around €1.0 billion, exceeding revised guidance and a return to profitability.
SMA Solar noted that earnings before interest and taxes (EBIT) of €30 million to €33 million was expected for 2015, driven by increased sales of inverters from its large-scale PV power plant segment as well as sales increasing across residential and commercial segments.
“SMA returned to profitability earlier than expected in 2015,” said SMA Chief Executive Officer Pierre-Pascal Urbon. “We have further extended our market leadership and account for approximately 20% of global demand. Following the Company’s transformation, we have effectively lowered fixed costs and increased our financial and operational flexibility with extensive measures. We can therefore better respond to the volatile market development and generate profits even when sales are lower than before. We largely completed the unfortunate but necessary staff reduction in a socially responsible manner. As of the end of 2015, the number of employees who had left SMA equates to nearly 1,400 full-time positions.”
The company also noted that it had lowered annual working capital requirements to less than €230 million, compared to €251.0 million in 2014.