- SMA Solar has confirmed its preliminary financial results for the year 2020 having sold 14.4 GW worth of inverters
- Its annual revenues exceeded €1 billion for the 1st time with large scale and project solutions, and home solutions segments doing well
- SMA has confirmed its guidance for 2021 as its order backlog plus sales cover around 50% of its annual forecast
German solar PV inverter company SMA Solar Technology AG has confirmed the preliminary financial results for 2020 it shared in February 2021 achieving and exceeding €1 billion in group sales, reflecting an annual increase of 12% (see SMA Solar Sold 14.4 GW Solar Inverters In 2020).
Management attributed the growth of its business to the ‘very good business performance’ in the large scale and project solutions, and home solutions segments. The group’s EBITDA of €72 million was within the guided range, with a net income of €28.1 million, compared to €-8.6 million in 2019 (see SMA Solar Improved Annual Sales In 2019 By Around 20%).
Among main business highlights for the year 2020, SMA Solar counted increase in sales in residential PV segment in Europe, the Middle East and Africa. In the US utility scale power plant business, it said the company gained market share while further consolidating its position in Australia. Management said its headquarters is also now exclusively powered by solar PV and wind turbines located in the immediate vicinity, which is in line with its goal to achieve carbon neutrality by 2025.
For Q1/2021, SMA Solar’s sales guidance is for €235 million to €245 million, down from €287.9 million it earned a year back in Q1/2020, attributing it to the ongoing COVId-19 crisis globally, and increasing prices for raw materials and PV modules (see SMA Solar Sold 4.4 GW Inverters In Q1/2020). It eyes an EBITDA of €14 million to €17 million.
For 2021, the company has reiterated its previous guidance of €1,075 million to €1,175 million, EBITDA of €75 million to €95 million and EBIT in the range of €30 million to €50 million. SMA Solar hopes to sell 17 GW to 18 GW of inverters in 2021.
Its confidence to achieve the guided numbers in 2021 rests on its order backlog plus sales that the management claims ‘already cover around 50% of the annual guidance’, as its incoming orders increased in March 2021. “We are assuming that SMA can strengthen its position in key markets over the course of the year and benefit from the expected growth of the PV markets in Europe and America as well as that of the global storage market,” said CEO Jürgen Reinert. “The continuous improvement of our product portfolio and the implementation of cost reduction measures will have a positive effect on profitability in 2021.”