From pv magazine Germany
A persistently volatile market and a delayed increase in incoming orders due to continued high inventory levels at distributors and installers are the reasons why SMA Solar Technology AG has revised its sales and earnings forecasts downwards.
As the photovoltaics company announced, the managing board now expects sales of between €1.55 billion ($1.66 billion) and €1.700 billion. The previous forecast was between €1.95 and €2.22 billion.
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) are now expected to be between €80 and €130 million instead of €220 to €290 million. According to the company, in accordance with the applicable accounting standards, any changes in balance sheet depreciation and amortization will be assessed and taken into account if necessary when preparing the half-year financial statements.
SMA said sales and earnings development were below expectations, particularly in the Home Solutions and Commercial & Industrial Solutions segments. In addition, there is new uncertainty in the market due to the outcome of the European elections and the upcoming elections in the U.S. on November 5. “The Large Scale & Project Solutions segment continues to develop in line with expectations,” the company stated. “Here, the managing board continues to expect a strong increase in sales and EBITDA for the year as a whole compared to the previous year.”
SMA plans to publish its 2024 half-year report as scheduled on August 8.
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