SMA Solar Technology AG: Managing Board Raises Earnings Forecast for Current Fiscal Year
SMA Solar Technology AG has raised its earnings forecast for FY 2022, now expecting EBITDA between €60 million and €75 million, up from €10 million to €60 million previously. This revision is attributed to a high volume of incoming orders and improved supply of electronic components that are expected to boost performance in Q4. Additionally, a positive impact from real estate sales added to Q3 earnings. The projected EBIT range is now €22 million to €37 million.
Net cash is anticipated to reach €190 million, with sales expectations narrowed to €975 million to €1,050 million.
- Raised EBITDA forecast to €60 million - €75 million from €10 million - €60 million.
- Improved supply chain contributing to better fourth quarter performance.
- Positive impact from real estate sale benefiting Q3 earnings.
- Increased EBIT forecast to €22 million - €37 million from €-30 million - €20 million.
- Expected net cash of €190 million, up from €175 million.
- Narrowed sales expectations to €975 million - €1,050 million.
- None.
NIESTETAL, GERMANY / ACCESSWIRE / October 27, 2022 / The Managing Board of SMA Solar Technology AG (SMA/FWB: S92) has raised its earnings forecast for the fiscal year 2022. The new forecast predicts operating earnings before interest, taxes, depreciation and amortization (EBITDA) of €60 million to €75 million (previously: €10 million to €60 million). As reasons for raising the forecast, the Managing Board cites the continued high level of incoming orders and a gradually improving supply of electronic components, which should lead to a business performance in the fourth quarter that exceeds previous expectations. In addition, a special effect in the lower double-digit million euro range from the sale of real estate had a positive impact on the earnings of SMA in the third quarter. For the operating earnings before interest and taxes (EBIT), the Managing Board expects a range of €22 million to €37 million (previously: €-30 million to €20 million). Net cash is expected to amount to around 190 million euros at the end of the year according to the new Managing Board forecast (previously: around €175 million). Sales expectations in the current fiscal year were narrowed by the SMA Managing Board to between €975 million and €1,050 million (previously: €900 million to €1,050 million).
Contact:
Thomas Pixa
Chief Financial Officer
Information and Explanation of the Issuer to this announcement:
About SMA
As a leading global specialist in photovoltaic and storage system technology, the SMA Group is setting the standards today for the decentralized and renewable energy supply of tomorrow. SMA's portfolio contains a wide range of efficient PV and battery inverters, holistic system solutions for PV and battery-storage systems of all power classes, intelligent energy management systems and charging solutions for electric vehicles and power-to-gas applications. Digital energy services as well as extensive services up to and including operation and maintenance services for PV power plants round off SMA's range. SMA inverters with a total output of around 120 gigawatts have been installed in more than 190 countries worldwide. SMA's multi-award-winning technology is protected by more than 1,700 patents and utility models. Since 2008, the Group's parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and is listed in the TecDAX index and SDAX index.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communications:
Anja Jasper
Tel. +49 561 9522-2805
Presse@SMA.de
Press Contact:
Susanne Henkel
Senior Corporate Communications Manager
Tel. +49 561 9522-1124
Presse@SMA.de
SOURCE: SMA Solar Technology AG
View source version on accesswire.com:
https://www.accesswire.com/722635/SMA-Solar-Technology-AG-Managing-Board-Raises-Earnings-Forecast-for-Current-Fiscal-Year
FAQ
What is the new EBITDA forecast for SMA Solar Technology AG for FY 2022?
How has SMA Solar Technology AG adjusted its EBIT forecast?
What impact did real estate sales have on SMA Solar Technology AG's earnings?
What are the revised sales expectations for SMA Solar Technology AG?
What is the expected net cash for SMA Solar Technology AG at the end of 2022?
