SMA Solar Technology AG : Low backlog and weaker market outlook weighing on share price
>Low backlog and weaker outlook weighing on share price - Yesterday morning, SMA released H1 results that were broadly in line with our expectations. Sales came to € 395m (Oddo BHF at € 395m), up +3.6% y-o-y. SMA sold 4.3GW in inverter capacity in H1 2018 (vs 3.8GW in H1 2017). EBITDA came in at € 40.9m vs our forecast of € 40m and EBIT was € 14.7m vs our forecast of € 12m. Net profit clocked in at € 14.7m vs €9.1m forecast. The group confirmed its 2018 guidance. The ...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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