SMA Solar adjusts forecast downward
$S92 (-5,3%)
SMA Solar Technology AG adjusts sales and earnings forecast for the current fiscal year 2024
The Managing Board now expects sales of between €1,550 million and €1,700 million (previously: €1,950 million and €2,220 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of between €80 million and €130 million (previously: €220 million and €290 million). In accordance with the applicable accounting standards, any changes in balance sheet depreciation and amortization are assessed and taken into account where necessary when preparing the half-year financial statements.
In addition to a persistently volatile market, the reason for the adjustment of the forecast is the delayed increase in incoming orders due to the continued high inventory levels at distributors and installers. As a result, sales and earnings in the Home Solutions and Commercial & Industrial Solutions segments are below expectations. In addition, the outcome of the European elections and the upcoming elections in the USA on November 5 have created new uncertainty in the market. The Large Scale & Project Solutions segment continues to develop in line with expectations. The Management Board continues to expect a strong increase in turnover and EBITDA for the year as a whole compared to the previous year.
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