September 27 (Solar) – German inverter maker SMA Solar Technology (ETR:S92) has lowered its sales and earnings forecast for 2018 because of a further sharp drop in prices and project postponements arising from the market downturn in China.
The company said today that its management board has adjusted its previous guidance for sales of between EUR 900 million (USD 1.05bn) and EUR 1 billion to a range of EUR 800 million-850 million.
The prior projections for earnings before interest, tax, depreciation and amortisation (EBITDA) after one-off effects from restructuring have also been amended. SMA Solar now expects break-even to slightly negative EBITDA instead of earnings of EUR 90 million to EUR 110 million.
The solar inverters manufacturer also announced structural adjustments to SMA and said that corresponding measures will be taken by the end of the year.
For next year, the company anticipates sales growth and positive EBITDA.
(EUR 1.0 = USD 1.168)