SMA, one of the world’s leading solar inverter manufacturers, says it has returned to profitability earlier than anticipated and is set to benefit from expected market growth in 2016.
The company has again raised its sales and earnings forecast; predicting sales of EUR850 million to EUR900 million (previously: EUR800 million to EUR850 million) for the current fiscal year.
The company states it has gained market share and believes itself to be the global market leader for solar inverter technology in 2015.
SMA’s struggles in recent years haven’t been due to product quality – SMA solar inverters have always enjoyed a solid reputation. Its battle has had more to do with structural issues, increasing competition and policy environments in some of the markets in which it operates.
“SMA has achieved a sustainable turnaround within a short space of time. Due to the SMA Group’s extensive transformation in the current fiscal year, we are emerging stronger from the years of structural change in the solar industry and will generate sales growth again this year for the first time since 2010,” said SMA Chief Executive Officer and Chief Financial Officer Pierre-Pascal Urbon.
By the end of Q3 this year, SMA states it increased sales by more than 20% compared to the same period last year and it currently has an order backlog of EUR665 million.
The company says it is on track to reduce its fixed cost base by more than EUR160 million by the end of 2015.
Looking ahead, a global inverter demand increase of 15% to 56 GW is estimated in 2016, with a change in regional demand and applications, particularly the utility sector and in North America. SMA says this will lead to stable global solar sales and a change in the competitive environment.
In the Americas, SMA says solar inverter sales are expected to jump by more than 35% to EUR1.5 billion in 2016, with the utility sector continuing to be the key growth driver in terms of revenue.
SMA solar inverters are a popular choice for residential and commercial solar power installations in Australia due to their robust, reliable nature and high conversion efficiency.
SMA has been manufacturing PV inverters and energy management systems for more than 30 years. 35GW+ of its products are installed globally.
