German inverter manufacturer SMA announced that it more than doubled shipments in 2020. In the first quarter of this year the company totaled €288 million in sales, up from €168 million in the same period last year – which corresponds to an increase of 72% .
In total, SMA sold photovoltaic inverters with a total production of 4,4 GW, almost tripling the production of the first quarter of 2019, which was 1,8 GW.
EBITDA (earnings before interest, taxes, depreciation and amortization), an indicator used to evaluate publicly traded companies, also increased from 2019 to 2020, from 1 million to 12 million euros, as net losses fell from €10,6 .300 million to around €XNUMX thousand.
According to SMA, the growth is mainly due to the strong sales market in the US and continued positive trade in Europe.
“SMA started 2020 well. We increased sales and earnings considerably in the first quarter. Through active management and process adjustments, we maintained our supply chain and production capacity even amid the coronavirus crisis,” said Jürgen Reinert, CEO of SMA.
Reinert further said that the backlog of sales and related products for the first quarter already covers more than 60% of the Board of Directors' sales guidance for fiscal year 2020. “Based on this, we continue to assume that we will meet our sales targets and earnings and will increase our shares in key target markets”, he concluded.
