SMA raises sales forecast as PV inverter demand perks up

German inverter maker SMA Solar Technology has raised its forecast for sales and operating earnings for this year amid a better-than-anticipated development of the global PV market.

The company now predicts sales of €800m-€850m ($944m) for 2015, up from an earlier forecast of €730m-€770m.

SMA also now expects its operating loss measured in earnings before interest and taxes (Ebit) to be narrower – ranging between €-25m and €0m – compared to the €-30m to €-60m previously expected.

"Global demand for photovoltaic inverters has developed better in 2015 than we had initially expected.

"This positive development is largely driven by foreign markets, particularly North America," CEO Pierre-Pascal Urbon said.

"By contrast, the German PV market is of only minor significance due to the energy policy of the German Federal Ministry for Economic Affairs and Energy.

"Thanks to our successful internationalisation and the introduction of new product solutions, we have benefited from international market growth and increased our market share."

Strategic alliances with Danish engineering group Danfoss and Germany's Siemens will further enhance the company's competitiveness, Urbon added.

Sales and earnings for the first half of 2015 are in line with guidance, with sales expected to exceed €420m, and an Ebit of about €-15m.

SMA will publish its results for the first half of 2015 on 13 August.