German firm SMA Solar Technology AGhas revised its sales and earnings forecast for 2024, citing a challenging market environment marked by volatility, the company announced on Wednesday.
SMA Solar now anticipates sales for the year to range between EUR 1.55 billion (USD 1.66 billion) and EUR 1.7 billion, down from the previously projected EUR 1.95 billion to EUR 2.2 billion. Similarly, operating earnings before interest, taxes, depreciation, and amortization (EBITDA) are expected to fall within the EUR 80 million to EUR 130 million range, compared to the earlier forecast of EUR 220 million to EUR 290 million.
See also: SMA Solar Technology to Open 3.5 GW Annual Capacity PV Inverter Plant in the US
“The revised guidance reflects the ongoing volatility in the market and persistent high inventory levels among distributors and installers,” SMA Solar stated. “These factors have affected incoming orders in our Home Solutions and Commercial & Industrial Solutions segments. Additionally, uncertainty surrounding the outcomes of the European and upcoming US elections has contributed to the challenging outlook.”
Despite these challenges, SMA Solar remains optimistic about the performance of its Large Scale & Project Solutions segment, expecting a robust increase in sales as previously anticipated.
The company is scheduled to release its financial report for the first half of 2024 on August 8, providing further insights into its operational performance amidst the evolving market conditions.
