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From January to March this year, the manufacturer SMA sold around 3.4 GW of inverters, accumulating USD 293.75 million. O The company's financial report was released last week.
EBITDA – profit before interest, taxes, depreciation and amortization – of the company increased to USD 24.56 million, with 8.4% of margin, an increase of 63.39% compared to the first quarter of 2020.
“Despite weaker demand due to project postponements, we achieved a considerably better operating result in the first quarter of 2021 than in the same period last year,” says Jürgen Reinert, CEO of SMA.
According to Reinert, the company intends to sustain profitability in the coming months, optimizing the product portfolio and reducing costs. SMA's expectation is that demand will increase in the second half of the year in Europe and the USA as the vaccination rate increases.
Read more: SMA reaches 2.5 GW of solar power in Latin America
He also stated that political sustainability signals are favorable for a positive development of the solar photovoltaic market in the long term.
“The EU confirmed its commitment to reducing 55% of greenhouse gases by 2030. For the US, President Biden announced an infrastructure program that involves large investments in a more climate-friendly economy”, he highlights.
“The German Federal Government has also announced that it will increase renewable energy installation targets; to achieve a secure and climate-compatible electricity supply, at least 15 GW of new photovoltaic generation capacity is needed in Germany each year.” , he completed.
Forecast for 2021
The SMA Board of Directors published on February 5th a forecast for the company's sales and earnings in 2021. Sales are estimated to increase between USD 1.31 million and USD 1.43 million and EBITDA between USD 91 .64 million and USD 116.08 million.
