SMA Solar sees profitable 2016 as inverter leader gets set for storage

German PV inverter maker SMA Solar Technology is forecasting a considerable increase in profits before interest and taxes (Ebit) to €80-120m ($87-131m) this year amid an increase digitalisation and a growth of storage solutions in the sector, as well as an ongoing expansion of the global PV market.

The company sees sales in 2016 to come in at €950m-€1.05bn. That compares to an expected Ebit of €30-33m and expected sales of about €1bn in 2015. SMA announced its 2016 guidance in the wake of its Capital Markets Day today.

"The digitalisation of the energy industry will give rise to new business models, for which we have already developed new technological solutions and service offers," chief executive Pierre-Pascal Urbon said.