Leading PV inverter manufacturer SMA Solar Technology has further increased its revenue and profit guidance for 2015, due to stronger than expected demand across international markets.
SMA Solar raised full-year sales guidance to a range of €925 million to €975 million, up from previously revised guidance of €850 million to €900 million. EBIT was raised to €10 million to €30 million, up from an EBIT of €0 million to €10 million, securing a return to profitability for the company this year.
Inverter sales in the first nine months of 2015 stood at 5,031MW, a 52% increase over the prior-year period that generated revenue of €699.2 million, up 27% from €549.3 million in the prior year period.
ASP declines across the PV inverter market have continued to impact margins and overall revenue and profits. However, SMA noted that margins had actually increased to 19.4%, up from 16.5% in the prior year period, due to fixed cost reductions and lower cost of sales.
SMA said that the most important foreign markets in the reporting period were North America, Japan, the UK and Australia, while overall international markets accounted for 86.7% of sales.
Pierre-Pascal Urbon, CEO and CFO of SMA Solar, said: “SMA completed the turnaround earlier than expected having already generated positive operating earnings before interest and taxes in the first nine months of the year. We have continued to extend our technology and market leadership in recent months and are the clear global market leader according to a study by IHS. As a photovoltaic systems specialist, the success of our strategy of offering holistic solutions for all attractive photovoltaic markets, all module technologies and all power classes is reflected in even distribution of sales, both in regions and market segments. SMA is in an outstanding position to benefit from the increase in global demand expected in 2016.”
Third quarter 2015 sales were €269.9 million, and an EBIT of €18.3 million.
PV inverter sales in the first nine months of 2015 across residential, commercial and utility-scale markets increased 6.8%, 28.9% and 56.1%, respectively. Service sales increased to €36 million, up from €29.5 million in the prior year period.
SMA had previously been forced to implement various restructuring measures and make job cuts due to falling sales.