From pv magazine Germany.
SMA Solar Technology AG sold 11.4 GW of inverters last year, according to its preliminary financial results. Those shipments marked an increase of 34% on 2018 while sales grew, year-on-year, from €761 million to €915 million, beating the board’s forecasts.
EBITDA improved from a loss of €69.1 million in 2018 to a profit of €35 million and the EBIT losses calculated without depreciation and amortization being factored in narrowed from €152 million to €11 million. “Depreciation and amortization are expected to be approximately €45 million,” the company said.
The figures have prompted optimism from the SMA board, which has predicted turnover of €1-1.1 billion this year and EBITDA of €50-80 million as it expects much from Europe and America as well as the energy storage sector.
“After a difficult 2018, we successfully implemented a range of measures aimed at reducing costs and increasing sales in 2019,” said board member Jürgen Reinert. “We regained market shares in our core business and continued SMA’s evolution into a systems and solutions provider by introducing system packages for private and commercial applications.”
The company reported positive results from its battery inverter business and said its large-PV-plant operations and maintenance activity expanded by 50% to a 4.5 GW portfolio.
“We will continue along our successful path and expect a further increase in sales and earnings in 2020,” Reinert said.
SMA added, further cost-cutting measures are due to be implemented this year.
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