Despite the Covid-19 crisis, German inverter manufacturer SMA reported solid financial results in the first half of 2020 compared to the same period last year.
From January to June this year, the company recorded €514 million (around R$3 billion) in sales, a growth of 42% compared to the first six months of 2019.
SMA attributed the boost to projects in the United States and commercial deals in Europe. Ebitda – a financial indicator that informs a company's profit before discounting what the company spent on interest and taxes and lost in depreciation and amortization – reached €24 million (around R$155 million), above the year's value previous amount of €9 million (around R$60 million).
In the first half of 2020, the company sold inverters with a total production of 7,1 GW, compared to 4,0 GW in the same period of the previous year.
According to the manufacturer, net profit improved significantly to €3 million (around R$19 million) in the first half of the year. In the same period last year, a loss of €14 million (around R$90 million) was recorded.
“As we projected, order intake in the second quarter was weaker due to the Covid-19 crisis. However, we expect global demand to recover in the coming months. Against this backdrop, we continue to assume that we will be able to achieve our sales and profit targets,” said Jürgen Reinert, CEO of SMA.
The company forecasts total sales between €1 (around R$6 billion) and €1,1 billion (around R$7 million) for the entire fiscal year.
