SMA Solar Technology AG : 2021 should be in the high end of the guidance range but the consensus is likely to revise down 2022 expectations
>Q3 earnings less affected by shortages than expected - Yesterday morning SMA Solar reported Q3/9M 2021 earnings. Q3 figures beat our estimates and the consensus (see 3M/9M details on page 2). Sales were down 1% vs Q3 2020 at € 257m (vs ODDO BHF and the consensus estimate of € 260m). EBITDA and EBIT fell 15% to € 14.8m and 42% to € 4.0m respectively but beat expectations (€ 9m and -€ 2m respectively). Net profit came to € 2m (-68% vs last year) whereas we and the con...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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