SMA states that with its 15 foreign subsidiaries, combined with the global photovoltaics (PV) market development, it "significantly" expanded its international solar inverter business in the last year. It adds that the group probably generated the highest earnings before interest and taxes (EBIT) margin in its history, with the margin falling into the lower part of its forecast of 26.5 percent to 28.5 percent.
In terms of this year, the company says it expects group sales of between 1.5 to 1.9 billion, while its EBIT margin is predicted to fall to around 21 to 25 percent, "due to changes in the competitive situation".
The SMA Managing Board is scheduled to present the full group statement for the financial year 2010 at its press conference on the annual results on March 31, in Frankfurt am Main, Germany.
The company goes on to say that while it is very difficult to forecast the development of the global PV markets in 2011, it believes that expected changes in incentive programs in individual countries may have "considerable" effects on the global market volume in 2011. It adds that the European, North America and Indian PV markets will significantly set the tone for the market development.
Nonetheless, SMA, in line with analyst forecasts, believes that between 15 gigawatts (GWs) to 20 GWs is achievable in terms of newly installed PV power this year.