SMA Solar Technology AG

Latest Results (21.10.2025):

SMA Solar Technology AG has released its financial results for the first quarter of 2024. The company experienced a slight decline in sales compared to the same period last year, while achieving significant growth in inverter output sold and maintaining a strong export ratio. Despite a reduction in EBITDA margin, net income saw a substantial increase, supported by strategic financial activities.

Sales Performance

In Q1 2024, SMA Solar Technology AG reported sales of €361.8 million, a decrease of 1.5% compared to €367.2 million in Q1 2023. The company maintained a robust export ratio of 67.9%, up from 59.3% the previous year.

Inverter Output Sold

The company achieved a significant increase in inverter output sold, reaching 4,253 MW in Q1 2024 compared to 3,236 MW in Q1 2023, marking a 31.4% growth.

EBITDA and Profitability

EBITDA for Q1 2024 stood at €49.9 million with an EBITDA margin of 13.8%, reflecting a decrease of 16.8% from €60.0 million and a margin of 16.3% in Q1 2023. Despite this, net income surged by 225.7% to €28.5 million, partly due to the sale of shares in elexon GmbH.

Capital Expenditure and Depreciation

Capital expenditures increased by 28.1% to €21.9 million in Q1 2024 from €17.1 million in the previous year. Depreciation costs also rose by 21.9%, reaching €11.7 million compared to €9.6 million in Q1 2023.

Workforce Expansion

Employee numbers rose by 19.3% to 4,518 in Q1 2024, with significant increases both in Germany and abroad, highlighting the company's ongoing growth and operational expansion.

Financial Position

Total assets grew by 2.1% to €1,656.3 million, and equity increased by 4.2% to €715.3 million, enhancing the company's financial stability. Net working capital also saw an 18.3% rise, while net cash decreased by 14.7% to €241.6 million.