SMA Solar Technology AG, a German solar equipment supplier, reported revenue of €221 million (~$232 million) in the first quarter (Q1) of 2022, a year-on-year decline. other (YoY) by 8% from €240m (~$250.07m) in the same period of 2O21.
The company attributed the drop in revenue to lower sales which were impacted by the shortage of microchips.
SMA Solar’s inverter production totaled 2.8 GW in the first quarter of 2022, down 17.6% year-on-year from the 3.4 GW produced and sold in the first quarter of 2021.
The German company’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the first quarter were €15 million (~$16 million), a 25% year-on-year decline from 20 million euros (~$21 million) from the first quarter of the previous year.
The company’s net income for the first quarter of 2022 was €3 million (~$3.38 million), down 62.5% year-over-year from €8 million ( ~$8.21 million) from last year.
SMA Solar revenue from external sales in the Commercial and Industrial Solutions (C&I) segment was €57 million (~$60 million) in the first quarter, a decrease of 8, 06% compared to €62 million (~$65 million) in the same period a year ago. . The company said the decline in C&I sales was due to the shortage of electronic components.
Full year 2021
SMA Solar’s revenue for fiscal year 2021 was €984 million (~$1.04 billion), a slight decrease of 4.17% from €1,027 million (~$1.49 billion) of FY20.
Source: SMA Solar Technology
The company posted EBITDA of €9 million (~$9.07 million) in fiscal 2021, down 88% from €72 million (~$75.1 million). dollars) of the previous fiscal year.
The company said 2021 results were impacted by the termination of a long-term contract for operation and maintenance services for photovoltaic power plants.
SMA Solar’s inverter production totaled 13.6 GW in fiscal 2021, down 6% from the 14.4 GW generated in the prior fiscal year.
The solar equipment provider reported a net profit of €28 million (~$30 million) in fiscal 2021, a 22% increase from €23 million (~$24.17 million) of the previous fiscal year.
Source: SMA Solar Technology
SMA Solar’s capital expenditures (CAPEX) were €13 million (~$14 million) in fiscal 2021, down 68% from €39 million ( ~$41 million) from the prior year.
Sungrow, Sineng Electric and FIMER India were among the top solar inverter vendors in the Indian market in 2021, according to the 2022 Indian Solar Market Ranking recently released by Mercom.
Gourav is a Mercom India Journalist with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India and US, Republic and Analytics India Magazine. Gourav holds a master’s degree in journalism from the Jain University of Bangalore. More articles from Gourav Mishra.
