Germany-based PV inverter firm SMA has revealed its financial results for the first quarter of 2013.
In the first quarter of 2013, SMA Solar Technology AG sold PV inverters with an output of 1.2GW, lower compared to 1.9GW reported in the first quarter of 2012. The firm generated sales of EUR212.3 million (US$273 million), lower compared to EUR405 million in the first quarter of 2012, according to the firm. However, first-quarter sales were within SMA's own guidance of EUR190-220 million.
The firm stated that in the first quarter of 2013, significant growth impulses emanated from the US, Japan, Australia, and Thailand. However, factors such as subsidy cuts, the unresolved debt crisis, and the possible anti-dumping tariff against China-based firms in Europe had a negative effect on demand for PV inverters, said SMA.
The SMA Managing Board confirmed the sales and earnings guidance for 2013 for the SMA Group. The firm predicts sales of EUR0.9-1.3 billion and a breakeven result in the best scenario. Nevertheless, the Managing Board said it cannot exclude the possibility of a loss.
According to Digitimes Research, the PV inverter market has been experiencing a surge in demand, and due to profitability, many China-based firms have entered the market. However, this has been causing product prices to fall.
