SMA Solar PV inverter sales reach 5GW in first nine months of 2015

As international market demand far exceeded expectations, SMA Solar, a leading photovoltaic inverter manufacturer, further raised its revenue and profit forecasts for 2015.

SMA Solar raised its full-year sales forecast to 925 million euros to 975 million euros, an increase from the previously adjusted target of 850 million euros to 900 million euros. Earnings before interest and taxes (EBIT) were adjusted to 10 million euros to 30 million euros, compared with the previous forecast of around 10 million euros; the company also returned to profitability this year.

Inverter sales in the first nine months of 2015 were 5,031MW, up 52% ​​year-on-year; revenue was 699.2 million euros, up 27% from 549.3 million euros in the same period last year.

The decline in ASPs across the PV inverter market continues to impact profits and overall revenues. However, SMA noted that profits actually increased to 19.4%, compared to 16.5% in the same period last year. This was mainly due to fixed cost reductions and lower sales costs.

SMA said that during the reporting period, sales in the most important overseas markets including North America, Japan, the United Kingdom and Australia accounted for 86.7% of the company's total sales.

Sales in the third quarter of 2015 were EUR 269.9 million and EBIT was EUR 18.3 million.

PV inverter sales in the residential, commercial and utility-scale markets increased by 6.8%, 28.9% and 56.1% respectively in the first nine months of 2015. Service sales also increased to 36 million euros, up from 29.5 million euros in the same period last year.

Prior to this, due to declining sales, SMA was forced to implement various reform measures and layoffs.