March 26 (Renewables Now) - German inverter maker SMA Solar Technology AG (ETR:S92) today confirmed its previously released forecast for 2020 as it finds itself “well equipped to respond appropriately to all possible developments” arising from the coronavirus pandemic.
The company reaffirmed its full-year guidance for sales in the range of EUR 1 billion (USD 1.09bn) to EUR 1.1 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 50 million and EUR 80 million. In addition, it guided for sales of EUR 275 million-285 million and EBITDA of EUR 12 million-15 million for the first quarter of 2020.
According to CEO Juergen Reinert, the COVID-19 pandemic has so far had just a minimal negative impact on the company's business development.
"Since the beginning of the year, order intake and sales have continued to develop positively and we have minimized supply shortages through active management. SMA has focused on prevention at an early stage, implementing appropriate measures such as travel bans, mobile working where possible and adjustments to manufacturing processes,” Reinert said, adding that the company will continue to monitor ongoing developments closely.
For the full 2019, SMA Solar posted a net loss of EUR 8.6 million, which is a substantial reduction from the EUR-175.5-million deficit reported for 2018 as sales rose by about 20% on the year. EBITDA was positive at EUR 34.2 million versus a 2018 loss of EUR 69.1 million.
More details about the company’s 2019 financial performance are available in the following table.
|Figures in EUR million, except percentages||2019||2018|
|Net profit (loss)||(8.6)||(175.5)|
Last year, SMA Solar sold some 11.4 GW of inverters, marking a 35% year-on-year jump.
(EUR 1.0 = USD 1.094)