SMA plans to publish its 2024 half-year report on August 8.
Image: SMA Solar Technology
A persistently volatile market and a delayed increase in incoming orders due to persistently high inventory levels at distributors and installers are the reasons why SMA Solar Technology AG has revised downwards its sales and profit expectations.
As the photovoltaic company announced, its board of directors now expects revenues of between €1.55 billion ($1.66 billion) and €1,700 billion. The previous forecast was between €1.95 and €2.22 billion.
Operating profit before interest, taxes, depreciation and amortization (EBITDA) is now expected to be between €80 and €130 million instead of €220 to €290 million. According to the company, in accordance with applicable accounting standards, any changes in depreciation and amortization on the balance sheet will be assessed and taken into account, if necessary, in the preparation of the half-yearly financial statements.
SMA said sales and profit development were below expectations, especially 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 US elections on November 5. “The Large Scale & Project Solutions segment continues to develop in line with expectations,” the company said. “Here, management still expects a strong increase in turnover and EBITDA for the entire year compared to the previous year.”
SMA plans to publish its 2024 half-year report as planned on August 8.
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