EQS-News

SMA Group kicks off 2024 fiscal year with sales and profitability in line with expectations

EQS-News: SMA Solar Technology AG / Key word(s): Quarter Results SMA Group kicks off 2024 fiscal year with sales and profitability in line with expectations 08.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. SMA Group kicks off 2024 fiscal year with sales and profitability in line with expectations

 

• Sales of €361.8 million at same level as previous year (Q1 2023: €367.2 million)
• EBITDA of €49.9 million (Q1 2023: €60.0 million)
• Solid order backlog of €1.5 billion (March 31, 2023: €2.5 billion)
• Equity ratio rose to 43.2% (December 31, 2023: 42.3%)
• Managing Board confirms 2024 guidance from February 29: sales of between €1,950 million and €2,220 million; EBITDA of between €220 million and €290 million

 

Niestetal, May 8, 2024 – SMA Solar Technology AG (SMA/ISIN: DE000A0DJ6J9/FWB: S92) completed the first quarter of 2024 in line with expectations. Group sales totaled €361.8 million and were thus at the same level as the previous year (Q1 2023: €367.2 million).

As expected, sales in the Home Solutions and Commercial & Industrial Solutions segments in the first quarter of 2024 were significantly influenced by the normalized demand situation, coupled with high inventory levels at distributors and installers. Against this backdrop, sales in the Home Solutions segment amounted to €62.6 million (Q1 2023: €163.3 million) and in the Commercial & Industrial Solutions segment to €70.5 million, after €80.2 million in the first quarter of 2023. As planned, the Large Scale & Project Solutions segment posted significant sales growth of €123.7 million in the same quarter of the previous year to €228.7 million in the first quarter of 2024.

Earnings before interest, taxes, depreciation and amortization (EBITDA), including the one-off income of €19.1 million from the sale of the shares in elexon GmbH, reached €49.9 million compared with €60.0 million in the same quarter of the previous year. This corresponds to an EBITDA margin of 13.8% (Q1 2023: 16.3%). The main reasons for the change compared with the previous year were the change in the product mix and an increase in the Group’s cost base. Earnings before interest and taxes (EBIT) amounted to €38.2 million and were less than in the same period of the previous year (Q1 2023: €50.4 million). This corresponds to an EBIT margin of 10.6% (Q1 2023: 13.7%).