NIESTETAL (dpa-AFX) - SMA Solar Technology AG (SMTGF.PK), a specialist in photovoltaic system technology, reported Thursday that its fiscal 2020 net income was 28.1 million euros, compared to last year's loss of 8.6 million euros. Earnings per share were 0.81 euro, compared to loss of 0.25 euro a year ago.
Earnings before interest, taxes, depreciation and amortization or EBITDA more than doubled to 72 million euros from previous year's 34 million euros. EBITDA margin was 7 percent, up from 3.7 percent a year ago.
Sales increased around 12% to 1.03 billion euros from 915 million euros last year, driven by very good business performance in the Large Scale & Project Solutions and Home Solutions segments.
Inverter output sold climbed 26 percent to 14.4 GW.
Further, the Managing Board and Supervisory Board recommend dividend payment of 0.30 euro per share for the 2020 fiscal year, based on the positive business development last year and the growth forecast for 2021.
Looking ahead for the first quarter of 2021, SMA expects sales of 235 million euros to 245 million euros, down from last year's 287.9 million euros. Further, EBITDA is expected to be 14 million euros to 17 million euros, up from last year's 12.3 million euros.
The company noted that due to the ongoing coronavirus crisis worldwide and increasing prices for raw materials and PV modules, it has recorded a relatively subdued start to the year.
Further, the company confirmed sales and earnings guidance for the 2021 fiscal year, which forecasts EBITDA between 75 million euros and 95 million euros, and sales between 1.075 billion euros and 1.175 billion euros.
Copyright RTT News/dpa-AFX
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