SMA Solar Technology, the world’s largest supplier of PV inverters, has lowered its sales and earnings forecast for this year amid a stronger-than-expected decline in European solar markets.
The amended forecast predicts sales of between €0.9m
($1.2m) and €1m, down from sales of between €0.9m and €1.3m previously seen.
SMA also said it expects a net loss of between €80m and
€90m for the full year of 2013. Previously, chief executive Pierre-Pascal Urbon
had said the company expects to break even this year, but also said it can’t
rule out making a loss.
SMA swallowed a net loss of €16.2m during the first six
months of the year, compared to a surplus of €59.4m in the year-earlier period.
“As the world market leader, SMA is particularly affected
by the changed conditions on the global photovoltaic market. The market is
characterised by high price pressure worldwide,” says SMA chief executive
“Furthermore, we have a strongly declining demand in our
core markets in Europe that cannot be compensated by the new Asian and American
markets. As a result, we adjusted the structures to the changed market
conditions and devaluated assets.”
SMA said it expects to return to profitability next year,
when restructuring measures already introduced will be fully effective.