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SMA Solar Technology Q1 EBITDA, Sales Rise; Confirms FY20 Outlook

Solar energy equipment supplier SMA Solar Technology AG (SMTGF.PK) reported Thursday that its net income broke even in the first quarter, compared to net loss of 10.6 million euros last year. Loss per share narrowed to 0.0.1 euros from 0.30 euros a year ago.

Earnings before interest, taxes, depreciation and amortization or EBITDA for the quarter rose to 12 million euros from 1 million euros in the year-ago period.

Sales for the quarter grew 72 percent to 288 million euros from 168 million euros in the previous year. The sales growth is mainly the result of the strong project business in the U.S. and the ongoing positive trade business in Europe.

The company sold PV inverters with a total output of around 4.4 GW in the quarter, compared to 1.8 GW in the year-ago period.

Despite the current coronavirus crisis, the SMA Managing Board confirmed its sales and earnings guidance for fiscal 2020, published on February 7, 2020.

The company forecasts full-year sales increase to between 1.0 billion euros and 1.1 billion euros, and EBITDA of between 50 million euros and 80 million euros.

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