SMA Solar Technology AG : Fall in the share price excessive in our view after a Q2 ahead of expectations
>Q2 above expectations driven by Large Scale segment - SMA yesterday reported Q2 2024 results that beat expectations. Sales amounted to € 398m, down 3% on Q2 2023 but above expectations (consensus € 375m and our estimates € 355m). EBITDA totalled € 31m (-53% y-o-y), above the consensus of € 18.1m and our forecast of € 16m. The EBITDA margin for Q2 was therefore 7.7%, above the consensus forecast of 4.8%. EBIT reached € 18m (-84% y-o-y), above the consensus of € 5m. N...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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