SMA returns to the black in 2015

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SMA Solar Technology AG has released provisional results for 2015, which indicate that it has exceeded its guidance for both revenue and profitability. The company reports roughly €1 billion in revenues, a 24% increase over the prior year, and €30-33 million in operating income.

SMA indicates that its sales were driven mainly by solutions for utility-scale solar projects, but notes growth in its sales of residential and commercial solutions as well.

The company’s positive if narrow operating result is in contrast to losses in 2013 and 2014. Even SMA’s first half 2015 report showed operating losses.

This return to profitability has come at a price. SMA reports that at the end of 2015, 1,400 employees had left the company as a result of what CEO Pierre Pascal-Urbon described as “unfortunate but necessary” staff reductions.

“Following the Company’s transformation, we have effectively lowered fixed costs and increased our financial and operational flexibility with extensive measures,” declared Pascal-Urbon in a press statement. “We can therefore better respond to the volatile market development and generate profits even when sales are lower than before.”

Despite a loss in market share to Asian competitors during the last few years, SMA estimates that it still supplies roughly 20% of the global inverter market.

pv magazine will report from SMA’s Capital Markets Day on January 29, and the company will publish full 2015 results on March 30.