SMA Solar raises 2010 profit outlook


Earnings before interest and taxes account for as much as 27 percent of sales this year, said the company, compared with previous expectations of as much as 23 percent.

According to news agency Reuters, it said it now sees revenues climbing to as much as €1.8 billion (USD$2.4 billion), compared with a May outlook of as much as €1.3 billion.

Shares rose 21 percent to €102 by 0745 GMT, while the German TecDAX index was up 2.8 percent. Pricing pressure will be moderate, SMA said, adding the company will maintain or even slightly increase its market share this year.

Read the rest of the report here.