The German group said burgeoning international sales led the way to its recovery, which saw it pull in €999.6m ($1.13bn) last year compared to €805.4m in 2014.

Operating profits (Ebit) came in at €34.3m, against the €165m Ebit loss SMA posted in 2014.

SMA has spent the last 18 months undergoing a painful restructuring as it focuses on global business to compensate for a downturn in PV demand in its German domestic market.

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