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SMA Solar FY19 Loss Narrows; Confirms FY20 View Despite Coronavirus Crisis

SMA Solar Technology AG (SMTGF.PK), a specialist in photovoltaic system technology, reported Thursday that its fiscal 2019 net loss was 8.6 million euros, significantly narrower than last year's loss of 175.5 million euros. Loss per share amounted to 0.25 euro, compared to prior year's loss of 5.06 euro.

Earnings before interest, taxes, depreciation and amortization or EBITDA was positive at 34 million euros, compared to negative 69 million euros last year.

Sales for the year increased around 20 percent to 915.1 million euros from prior year's 760.9 million euros. The growth was attributable mainly to the very good business performance in the Home Solutions and Large Scale & Project Solutions segments.

Looking ahead for the first quarter, the company anticipates EBITDA of between 12 million euros and 15 million euros, and sales of between 275 million euros and 285 million euros.

Further, the company confirmed fiscal 2020 earnings and sales guidance despite the current coronavirus crisis.

The company continues to expect an increase in EBITDA of between 50 million euros and 80 million euros and sales increase to between 1.0 billion euros and 1.1 billion euros.

SMA said it is well positioned to gain market shares even in the current circumstances.

Further, the company is implementing further cost reduction measures.

Chief Executive Officer said, "So far, the coronavirus has had only a minimal negative impact on SMA's business development. Since the beginning of the year, order intake and sales have continued to develop positively and we have minimized supply shortages through active management. SMA has focused on prevention at an early stage, implementing appropriate measures such as travel bans, mobile working where possible and adjustments to manufacturing processes."

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