Thursday, June 30 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Jun 27
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    SMA Solar's sales, earnings fall in Q1 amid component shortage


    May 11, 2022 - SeeNews Renewables

     

      May 11 (Renewables Now) - SMA Solar Technology AG (ETR:S92) said today its earnings and sales fell in the first quarter of 2022, as expected, as the shortage of components continued to weigh in on the performance.

      Earnings before interest, taxes, depreciation and amortisation (EBITDA) in January-March fell 26.4% year-on-year to EUR 14.8 million (USD 15.62m) in line with the company's projections.

      Sales dropped 8.2% to EUR 220.6 million as inverter output sold declined to 2,788 MW from 3,360 MW a year earlier. The German photovoltaic (PV) inverters maker attributed the decline to the continued tight situation with the supply of electronic chips. The Large scale and project solutions segment made the largest contribution to the top line, accounting for 46% of the total.

      First-quarter net profit plunged 62.5% on the year to EUR 3 million.

      Despite the ongoing shortage of components, SMA Solar enjoyed strong demand with order backlog growing to EUR 1.04 billion from EUR 835.7 million a year earlier.

      “In March in particular, both order intake and sales developed very well once again. There is strong demand from our customers for existing products and solutions as well as for those launched on the markets in recent months. Despite the ongoing strained supply situation in relation to electronic components, we expect to record most of the product-related order backlog as sales by the end of the year," said chief executive Juergen Reinert.

      The company reiterated the full-year forecast that was announced in March. Sales in 2022 are forecast in the range of EUR 900 million to EUR 1.05 billion while EBITDA is seen at EUR 10 million- 60 million.

      (EUR 1 = USD 1.055)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.