The
German
group
increased
sales
by
16%
to
€833.7m
in
the
January
to
June
period,
compared
to
the
first
six
months
of
2011,
shifting
4GW
of
inverters
against
3.1GW
last
time.
Earnings
before
interest
and
tax
(Ebit)
fell
to
€83.7m
from
a
year-earlier
€103.7m.
But
SMA
says
its
Ebit
margin
of
10%,
although
down
on
last
year’s
14.5%,
was
at
the
upper
end
of
its
forecasts.
The
company
says
impending
changes
to
subsidy
arrangements
in
key
markets
persuaded
customers
to
bring
forward
orders
for
inverters
for
rooftop
PV
systems.
“In
the
first
half
of…
