SMA Solar Technology AG: Managing Board decreases forecast for current fiscal year

SMA decreases its sales forecast for current fiscal year by EUR 50 million
SMA decreases its sales forecast for current fiscal year by EUR 50 million

The Managing Board of SMA Solar Technology AG (Niestetal, Germany) is adjusting its sales and earnings forecast for the 2016 fiscal year.

The new forecast anticipates sales between EUR 900 million and EUR 950 million (previously EUR 950 million to EUR 1,050 million) and continues to anticipate a significant year-on-year increase in EBIT to between EUR 60 million and EUR 70 million (previously EUR 80 million to EUR 120 million).

This forecast adjustment was mainly caused by price pressure emerging in all solar photovoltaic (PV) market segments worldwide since the middle of 2016 and numerous delays in major solar projects.

Based on provisional figures, SMA achieved sales of more than EUR 220 million and EBIT of more than EUR 20 million in the third quarter of 2016. In the third quarter, the gross margin was around 25%. Net cash was more than EUR 350 million.

 

2016-10-24 | Courtesy: SMA | solarserver.com © Heindl Server GmbH

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