SMA Solar Technology AG : Upturn in margins confirmed but valuation still pretty expensive!
>Preliminary results beat expectations - SMA Solar Technology yesterday morning reported its preliminary results, which were ahead of expectations. Sales were up 8.4% to € 1,065.9m vs consensus expectations of € 1,021m. EBITDA was € 70m, up from € 8.5m in 2021, in line with our expectations (€ 72m) and above the consensus at € 61m, at the top end of the guidance range (raised) between € 60m and € 75m. EBIT totalled € 32m, above expectations of € 30m. Net profit reach...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.
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