Managing Board of S92.DE adjusts forecast for the current fiscal year

The Managing Board of SMA Solar Technology AG (Xetra: S92.DE) is adjusting its sales and earnings forecast for the current fiscal year. For 2021, the SMA Managing Board expects sales between €980 million and €1030 million (previously: €1075 million to €1175 million) and EBITDA between €50 million and €65 million (previously: €75 million and €95 million). The background to this is the undersupply of electronic components currently affecting the entire electronics industry.

“Due to the latest cancellations of firmly promised delivery quantities, the situation has also worsened significantly for SMA in the short term, contrary to expectations. We are also seeing that project developers and investors are postponing the implementation of larger PV projects until the following year,\” says Chief Executive Officer Jürgen Reinert. “We are in intensive contact with our partners on the supplier side in order to develop suitable solutions to secure deliveries and to compensate for delivery delays as far as possible in the coming weeks as well. We continue to expect sales in the second half of the year to be higher than in the first half, but in our estimation to remain below the most recently forecast level.”

According to Reinert, on the other hand, the very good medium-term business prospects for SMA have not changed: “As part of the SMA Strategy 2025, we are successfully driving forward the further development of the product portfolio towards a system landscape for decentralized energy supply. SMA has positioned itself strategically very well to benefit from the expected global growth of the PV as well as the global storage market and to consolidate its market position.”

Author: KS

Source: SMA Solar Technology AG

Topic: Finance | Solar

Market: Solar Stocks