German SMA Solar focuses on expansion abroad – report

(SeeNews) - Mar 7, 2013 - German firm SMA Solar Technology (ETR:S92) is focusing on its expansion abroad and its business outside Europe is expected to show growth for 2012 and 2013, German paper IT-Times reported today.

SMA Solar's business in countries outside Europe accounted for 21.9% of total revenue in 2011 and was the smallest segment. Since then, however, its been growing, while the operations in Germany and in the EU countries have been registering revenue declines. The same tendency is expected for 2012 and 1013.

Only in the last quarter, SMA Solar won a major contract in Japan, started operations in Chile and South Africa and acquired a majority stake in Chinese rival Jiangsu Zeversolar New Energy.

SMA will publish its 2012 financial results by the end of the month. The figures are expected to continue the trend of the first nine months of the year when the company booked a stable revenue but a declining profit. Despite the crisis, the top-line figure was kept at EUR 1.2 billion (USD 1.57bn) while the net profit dropped to EUR 81 million from EUR 126.4 million in the prior-year period.

(EUR 1.0 = USD 1.306)

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