SMA Solar Technology, a leading German solar supplier, has raised its full-year guidance for 2023 after reporting a strong Q3 performance. The company’s shares jumped 11% to EUR62.20 on Thursday, reflecting the market’s confidence in its growth prospects.
The company now expects sales of between €1.8 billion and €1.9 billion, up from the previous forecast of €1.7 billion to €1.85 billion. The projected EBITDA has also been increased to between €285 million and €325 million, compared to the initial estimate of €230 million to €270 million1.
The revised guidance is based on the preliminary figures for Q3, which show a significant improvement from the same period last year. The company achieved revenue of €252 million and EBITDA of €34 million in Q3 20232, driven by the high demand for its products and services in the Home Solutions segment.
SMA Solar Technology has also benefited from the easing of the supply situation for electronic components, which had caused delivery bottlenecks and project delays in the first half of the year. The company has implemented price increases to offset the higher costs and improve its profitability.
The company’s CEO, Jürgen Reinert, expressed his optimism about the future development of the company and said that SMA Solar Technology is well positioned for further profitable growth. He also announced that the company plans to achieve positive EBIT in the C&I and Large Scale & Project Solutions segments as early as 20232.
The company’s stock has been under pressure in the past three months, losing 43.56% of its value3. However, the strong revenue growth and the expectation of net income growth this year may serve as positive indicators for investors. The company also has a healthy balance sheet, holding more cash than debt3.
SMA Solar Technology is one of the world’s leading suppliers of photovoltaic inverters and system solutions for residential, commercial and utility-scale applications. The company has a market cap of $2230.41 million and a P/E ratio of 12.443.