SMA Solar Profits From The Sun, Order Book At €2 billion

SMA Solar Profits From The Sun, Order Book At €2 billion On September 30

By Tony Cheu/ Updated On Wed, Nov 15th, 2023

Highlights :

SMA Solar sold 12.89 GW of solar PV inverters in 9M/2023, exceeding the 12.22 GW sold in all of 2022
71.9% sles during the period were reported from the EMEA region
With order backlog growing to over €2 billion by September 2023-end

SMA Solar Profits From The Sun, Order Book At €2 billion On September 30

German Solar Inverter Major SMA Solar is riding the solar wave well, with sales at record highs. For the quarter ended September 2023, the firm reported a strong financials for all business segments in 9M/2023 with close to 85% YoY increase in consolidated sales. PV Inverter sales during the year crossed 12.89 GW of PV inverter capacity, up from 8.73 GW in 9M/2022, reflecting 47.7% YoY growth. The firm has an order book of €2 billion in hand, indicating the strong momentum and prospects for the future,

Sales were dominated by demand from the EMEA (Europe, Middle East and Asia) region, with 71.9% share, followed by 21.9% in the Americas and 6.2% in the Asia Pacific. During Q3/2023, sales added up to €558 million, led by the home solutions business, and EBITDA €106 million.

The €1.34 billion in sales in the 9 month period was led by €486.2 million contributed by the home solutions segment, large-scale & project solutions segment brought in €517.5 million, a 70.5% YoY jump. The commercial and industrial (C&I) business sales improved by 74.4% to €333.7 million.

Net income for the period improved by over 1,500% from €11 million in 9M/2022 to €180 million. EBITDA was reported to have increased by 360.6% to €231.2 million.

With an order backlog of €2.02 billion, comprising €931 million in large-scale & project solutions, €396 million in C&I, €320 million in home solutions and €374 million in the service segment, the company is booked out for the next three quarters and beyond.