SMA passes billion-euro mark in 2020 sales, expects further growth - SolarStar

“Despite the considerable challenges presented by thecoronavirus pemic, we achieved the sales earnings growth forecast at the start of the year in 2020,” said SMA  CEO Jürgen Reinert on Friday.

According to its preliminary results, 2020 sales grew to reach over €1 billion, compared to the €915.1 million generated in 2019. At 14.4 GW, sales of its solar  inverters  were 26% higher year-on-year, the company now has over 100 GW of installed inverter capacity globally.

SMA’s other financial results also appear to have recorded improvements, with EBITDA expected to be around €72 million – almost double compared to 2019. like its sales, this figure is in the scope of the predictions it made at the start of least year, before the Corona pemic took grip. Depreciation amortization are expected to be around €44 million, leaving a profit of almost €30 million.

CEO Reinert attributes the positive results to the fact SMA quickly implemented effective infection control measures worked closely together with customers suppliers. This meant production was unaffected, the company did not have to rely on state aid.

Further growth in 2021

For the current financial year 2021, the SMA management board predicts further growth, with sales increasing to between €1.075 billion to €1.175 billion. EBITDA is also projected to grow to between €75 million €95 million. The U.S. European solar markets are expected to remain strong for the inverter manufacturer, as is the global energy storage market.

SMA has further said it will press ahead with its “Strategy 2025”, which involves the ongoing development of its inverter product range toward creating a system lscape for decentralized energy supply.

The board of directors assumes that lower production costs, further price declines the use of economies of scale will boost the company’s profitability. Concurrently, the streamlining of its product portfolio, which focuses on higher margin products systems, should see further improvements.

The figures strategies will be presented at today’s Capital Markets Day, while the final results are expected to be shared on March 25.