SMA Solar Technology AG Adjusts Sales and Earnings Guidance for Fiscal Year 2024

SMA Solar Technology AG has revised its sales and earnings guidance for the fiscal year 2024. The company now anticipates sales between 1,550 million euros and 1,700 million euros, down from the previous estimate of 1,950 million euros to 2,220 million euros. The expected operating earnings before interest, taxes, depreciation, and amortization (EBITDA) have also been adjusted to a range of 80 million euros to 130 million euros, compared to the earlier range of 220 million euros to 290 million euros.

This adjustment comes as a result of a persistently volatile market and a delayed increase in incoming orders, attributed to high inventories at distributors and installers. The Home Solutions and Commercial & Industrial Solutions segments have underperformed expectations, while the Large Scale & Project Solutions segment continues to align with projections, with expectations for a year-over-year increase in sales and EBITDA.

Additionally, the recent European election outcomes and the upcoming U.S. elections contribute to the current market uncertainty. SMA Solar Technology AG plans to publish its half-year report on August 8, 2024.