SMA Solar Technology AG Reports Decreased Sales and Announces Restructuring Plans

SMA Solar Technology AG has released its financial figures for the first nine months of 2024, revealing a decrease in both sales and earnings. Sales reached €1,059.7 million, significantly lower than €1,337.4 million in the previous year. The decline was largely attributed to market slowdowns in the Home Solutions and Commercial and Industrial Solutions segments.

EBITDA for the period was €83.5 million, down from €231.2 million in 2023. Other contributing factors include increased operational costs and lower sales volumes. As a result, SMA's Managing Board reduced the full-year guidance, projecting sales between €1,450 million and €1,500 million, and EBITDA ranging from -€20 million to €20 million.

SMA has initiated a comprehensive restructuring and transformation program to strengthen its market position. The program aims to streamline operations, reduce the cost base by €150 to €200 million, and focus on sustainable growth. This may lead to job cuts affecting up to 1,100 positions worldwide by 2025.