SMA Solar Reports Preliminary 2011 Financial Results

Preliminary estimates from the Managing Board of SMA Solar show sales of about €1.7 billion in 2011 and earnings before interest and taxes (EBIT) of more than €240 million. With this, SMA fully achieved both of its forecast targets as well as the second-best earnings in the company history.

According to SMA solar Managing Board estimates, the company maintained its global market share at last year’s level – 35 percent – in a highly competitive environment.

The SMA solar Managing Board estimates that photovoltaic plants with  a presumed capacity of approx. 23 gigawatts were installed worldwide in 2011.  “With this, the size of the global market remained nearly unchanged in  comparison to 2010. At the same time, demand shifted regionally. Declines in  some important photovoltaic markets were compensated by growth in new markets,”  explained Pierre-Pascal Urbon, Spokesman of the Managing Board and Chief  Financial Officer of SMA Solar Technology AG. “The product mix changed  accordingly, and there was increasing demand for larger inverters. Thanks to our  broad product range – from Sunny Boy inverters for private photovoltaic plants  to Sunny Central inverters for large-scale PV projects – and to our strong  international position, we were able to serve the changed demand  well.”

In the world’s largest photovoltaic market, Germany, SMA solar successfully maintained its position as market leader and even expanded it  slightly. PV plants with a capacity of three gigawatts were constructed here  during December 2011 alone. There are many different reasons for the strong  growth in new installations. One significant factor is the 15 percent reduction  in the feed-in tariff as of January 1, 2012. Added to this was an increased  sell-off at year’s end among wholesalers in order to minimize the risk of  depreciation of their inventories. The advantageous interest rate level, low  system prices and unusually mild weather also promoted the additional  installation.

“We also assume that many photovoltaic plants were only  commissioned commercially; the installed plants were therefore registered with  the Federal Network Agency without inverters. We already see this reflected in  our current business development,” Urbon said.   According to  preliminary estimates by the Managing Board, SMA’s sales in the fiscal year 2011  amounted to around €1.7 billion. Export sales are anticipated to have increased  by approx. 55 % (2010: 45 %). Project business made up about 25 % of the Group’s  sales, according to initial estimates (2010: 18 %). SMA solar will continue its  successful internationalization strategy in 2012 and will establish foreign  companies in South America and Africa.

The Managing Board of SMA  solar anticipates slight growth in global demand for photovoltaic plants during the  current fiscal year, but cannot exclude the possibility of a slight decline. “We  see positive growth in 2012 in the United States, Japan and India. A reliable  forecast for the global market is not currently possible, however, due to  numerous changes in important markets and uncertainty caused by the current euro  and financial crisis,” Urbon emphasized.  “We can therefore provide no sales and  earnings forecast at this point for the current fiscal year.”

The SMA solar Managing Board is confident that thanks to the company’s high flexibility,  continuous investment in research and development, innovative product portfolio  and strong international position, SMA solar is well positioned to react quickly to  all market developments and to profit from the outstanding long-term potential  for growth in the promising field of photovoltaics technology.

by Solarbuzzz

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The Author

I took an interest in the Australian energy sector close to ten years ago and since then have monitored the trends, technologies and direction of the Australian Energy Market. I was drawn to the Australian solar market in 2008 and since then have worked heavily in the field. I am partnered with national and international solar energy companies, from manufacturers of solar panel and inverter technology, online software developers that introduce tools to quote, monitor and manage solar power systems and media organisations who like myself, closely monitor the solar and renewable energy sector.

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