SMA – which endured a turbulent, loss-making few years due to plunging demand in its core German market – said its sales of €253.8m ($289.3m) in the January-March period were up 12% on the same period last year and ahead of forecasts.

The company posted an operating profit (Ebit) of €25.3m against a €5.4m loss a year ago, with “all core segments profitable”.