Major PV inverter manufacturer SMA Solar Technology reported a rebound in shipments and sales in the third quarter of 2020, driven by a recovery in demand after its Q2 financials were hit by project slowdowns in Europe and the US due to COVID-19.

Total PV inverter shipments had fallen to 2,738MW in the second quarter of 2020, after record shipments of 4,367MW in the previous quarter. Third quarter shipments were 3,456MW, driven by large-scale projects in the US and Europe, while residential and C&I markets were down slightly from the previous quarter.

Try Premium for just $1

Full premium access for the first month at only $1
Converts to an annual rate after 30 days unless cancelled
Cancel anytime during the trial period

Start $1 Trial

Premium Benefits

Expert industry analysis and interviews
Digital access to PV Tech Power journal
Exclusive event discounts

Or get the full Premium subscription right away

Get Premium Subscription

Or continue reading this article for free

Get Basic (FREE) Subscription

SMA Solar’s total inverter volume sales in the first nine months of 2020 were 10,651MW, up 42% from 7,494MW in the prior year period.

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the prior year quarter. Sales in the first nine months of 2020 were €774 million, up 23% from €631 million in the prior year period.

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the corresponding period last year. Sales in the first nine months of 2020 were €774 million, up 23% from €631 million in the prior year.

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the prior year quarter.

Total EBITDA amounted to €41 million in the first nine months of 2020, compared to €26 million in the prior year period, a 61% increase.

Product order backlog at the end of the third quarter stood at €331.5 million, slightly up from €321 million in the previous quarter. This was the first quarter SMA Solar’s product order book had increased since the second quarter of 2019.

SMA Solar’s CEO, Jürgen Reinert said, “The effects of the global coronavirus crisis have also posed major challenges to SMA over the past nine months. I am therefore all the more pleased that, in spite of the declining market, we generated significant growth in sales and earnings and thus gained market share.”

The company reiterated previous full-year revenue guidance to be in the range of €1.0 billion to €1.1 billion, indicating fourth quarter sales could be as high as €326 million, which could be a recent record quarter for the company.

SMA Solar also guided full-year EBITDA to be in the range of €50 million to €80 million.

UPCOMING EVENT

PV ModuleTech Europe 2025

2 December 2025

Málaga, Spain

Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

UPCOMING EVENT

PV ModuleTech USA 2026

16 June 2026

Napa, USA

PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.