SMA Solar Technology AG : A weak Q1 as expected and 2019 guidance confirmed
>A weak Q1 as expected - SMA reported Q1 2019 results in line with the group’s guidance for the quarter (sales of between € 160m and € 170m and EBITDA of between -€ 5m and € 0m). Sales clocked in at € 167.8m and EBITDA at € 0.6m (ODDO BHF at € 165m and € 0m respectively). Net profit totalled -€ 10.6m (€ 2.8m in Q1 2018) in line with our estimates (-€ 11m). As expected, Q1 was weak given the persistent weakness of the utilities (large-scale and project solutions) and ...SMA Solar Technology is a holding company. Through its subsidiaries, Co. operates in five divisions: Medium Power Solutions, which distributes inverters, system solutions as well as products used for monitoring PV systems and energy management; Power Plant Solutions, which supplies central inverters and system solutions to PV plants; Service, which provides customers in Germany and abroad with support and after-sales services; Zeversolar, which serves the Chinese photovoltaic market and the budget market (low-price segment) in foreign markets; and Railway Technology, which manufactures converters as individual devices and energy supply systems for railway coaches.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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