Citing a sharp decline in sales, strong ASP pressure, product mix sales changes and underperformance of its Chinese subsidiary, Zeversolar leading PV inverter company, SMA Solar Technology reported a nine-month loss of €26.9 million.
The company said that in the first nine-months of 2013 it had sold PV inverters with an output of 4GW, down significantly from 5.9GW in the same period a year ago.
Sales sank to €709.3 million, compared with €1.2 billion reported for the first nine-months of 2012.
SMA Solar noted that demand in Europe declined substantially in particular due to significant changes to subsidy conditions in Germany and Italy, two of its core European markets and that the PV module anti-dumping investigation, now settled had created uncertainty in the markets.
Sales outside Germany in the period increased in percentage terms to 69.3%, compared to 53.4% in the same period a year ago.
Pierre-Pascal Urbon, CEO of SMA Solar said, “SMA has adjusted the structures to best meet the changes that have occurred in the global solar market, and, as a specialist in PV system technology has strategically aligned itself to fulfill the requirements of the global energy transition. In 2014, we will launch the Sunny Boy Smart Energy, an inverter with an integrated battery, and first products from our completely newly developed product platforms. Next year, we will also continue our steadfast commitment in the area of development in order to advance our global market leadership and return to profitability.”
The company reiterated full-year financial guidance issued early this week that it expected expects to produce a loss of €80 million to €90 million on revenue of between €0.9 billion to €1.0 billion.