SMA Solar warns of 2013 loss

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 Log in to read complete article.

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