SMA Solar Technology has reported record revenues for its third quarter financial results, posting sales of €312 million fuelled by increased demand for its inverters in Germany and internationally. SMA dominates the small-scale solar inverter market, typically used in residential applications. The company also raised its revenue forecast for 2009, to between €760 million to €810 million, up from its previous forecast of between €680 million and €730 million, indicating a growth in sales of 19% compared to 2008.
In a recent GTM Research report, SMA was projected to continue to gain market share in 2009, up from 38% share to 40% based on sales of approximately US$998 to US$1,072 million.
With SMA’s revised revenue guidance, sales could reach approximately US$1,208 million, indicating that further market share gains could be expected.
