SMA Solar’s H1 2026 sales were broadly unchanged on a YoY basis, but its profitability improved sharply
Its Home & Business Solutions division posted stronger sales as the company continued its restructuring measures
The company has raised its 2026 outlook following a stronger order book and improved operating conditions
SMA Solar Technology AG, the Germany-headquartered solar inverter manufacturer, returned to profitability in H1 2026, reporting a €72.8 million net profit compared to a negative €42.4 million in H1 2025. SMA management attributes this to strong demand in the Home & Business Solutions division along with cost-cutting measures as part of its restructuring.
Its sales of €686.6 million were roughly flat compared to the previous year’s €684.9 million, having sold 9 GW worth of equipment. Excluding customs duty reimbursement of €22.3 million, the company’s sales reached €708.9 million.
The company’s Large Scale & Project Solutions division reported sales of €542.1 million, down 4.7% from €568.8 million a year earlier, even as this segment accounted for 79% of the group sales for the reporting period. SMA attributed the decline mainly to the accounting impact of US customs duty reimbursements. It expects a higher level of project realization in H2 2026.
On the other hand, Home & Business Solutions sales increased 24.5% to €144.5 million, supported by higher demand, representing 21% of group sales. The EMEA region accounted for a major portion of gross sales at 79.6%, followed by the Americas at 14.9% and the APAC region at 5.5%.
The division's operating EBIT improved to €40 million from €22.2 million a year earlier, aided by higher sales and cost reductions under the company's restructuring and transformation program, according to management.
Overall EBITDA before one-time effects rose to €65.9 million from €50.3 million. Including the reported effects, EBITDA increased to €88.3 million from €9.1 million.
SMA's order position also strengthened during the period. At the end of June 2026, its order backlog stood at €1.754 billion, compared with €1.161 billion a year earlier. The company said it recorded record order intake in its Large Scale & Project Solutions division in Q2. About three-quarters of the backlog, or €1.429 billion, was related to SMA’s product business.
“The market environment in the first half of the year continued to be characterized by intense competition and geopolitical uncertainties,” said CEO Jürgen Reinert.
SMA expects 2026 sales of €1.625 billion to €1.725 billion and EBITDA of €180 million to €230 million. EBIT is projected at €130 million to €180 million, as disclosed in its preliminary results in July 2026 (see SMA Solar Raises 2026 Outlook After Strong Q2 Earnings).
The company expects stronger operations in Large Scale & Project Solutions during H2 2026, while Home & Business Solutions is also expected to post improved sales with higher order intake in Q2.
