SMA warns of electronic component shortage

In the first half of the year, the German PV inverter maker recorded high demand for its inverters and storage solutions from the residential solar segment. The effects of the corona pandemic, however, have had an impact on the commercial segment and, although a recovery in demand is expected in the second half of the year, SMA said it is currently dealing with delivery issues.

SMA attributed the decline in turnover and sales in the first half of the year to the ongoing uncertainties in connection with the corona pandemic among small and medium-sized companies.

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Germany-based inverter manufacturer SMA Solar Technology AG was able to ship 6.8 GW of PV inverters in the first half of the year. This is slightly below the previous year's level of 7.1 GW and quarterly sales were correspondingly lower at €488 million. At the same time, SMA improved its EBIDTA from €24 million to €38.1 million and the EBIT from €2.7 million to €13.3 million year-on-year.

SMA board spokesman, Jürgen Reinert, said the positive performance is due to the “continuous improvement of the product mix and the cost structure”. In addition, orders for the commercial PV segment saw some recovery in the second quarter. “We are therefore expecting a positive development in sales and earnings for the second half of the year,” he said.

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The SMA managing board also confirmed its sales and earnings forecast released in February. So, this year growth in sales up to €1,175 million and an EBITDA of up to €95 million is expected. However, the manufacturer warned of possible delivery bottlenecks. “The continued tense situation in the supply of electronic components could lead to limitations in SMA's ability to deliver its products in the second half of the year,” it said. “The management board is responding to the situation with closer and more intensive supplier management and a stockpiling strategy.”

SMA attributed the decline in turnover and sales in the first half of the year to the ongoing uncertainties in connection with the corona pandemic among small and medium-sized companies, which are currently reluctant to invest in PV solutions. In contrast, the development of sales in the Home Solutions and Large Scale & Project Solutions segments is different, for which the company recorded an increase in sales, despite the shortage of electronic components.

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