SMA raises forecasts for second time as revival gathers pace

German PV inverter maker SMA Solar Technology has raised its sales and earnings forecast for 2015 a second time this year amid a continued favourable business growth. 

The company now forecasts sales of €850m ($954m) to €900m, compared to €800-850m expected previously, and earnings before interest and taxes (Ebit) of between €0 and €10m from its previous expectation of a loss of up to €25m.

"SMA has achieved a sustainable turnaround within a short space of time," SMA chief executive Pierre-Pascal Urbon says.

"Due to the SMA Group's extensive transformation in the current fiscal year, we are emerging stronger from the years of structural change in the solar industry and will generate sales growth again this year for the first time since 2010."

SMA's success factors for gaining market share this year are its global presence and extraordinary flexibility, Urbon stressed.

The Niestetal, Germany-based company is the world's largest inverter maker, and benefited from a global boom in PV installations that had shrunk its operating loss in the first six months of this year to €14.9m from €62.4m in the year-earlier period.

The increased outlook comes after SMA in July had already raised its 2015 sales and Ebit forecast once.

SMA's improved fortunes come after implementing a rigorous cost-cutting plan that led the company to cut about 1,600 jobs world-wide, or a third of its previous staff.

The company will announce its nine-month earnings on 12 November.