Kassel-based SMA reeled in an operating profit of €418.2m in first nine months of the year, compared to €120.8m during the same period in 2009.

Inverters, seen as the PV sector’s principal bottleneck in the medium term, convert the direct current electricity generated by solar modules into an alternating current useable by grids and homes.

SMA's share price has put in a jerky performance in recent months and is down 4% in the past year. But in contrast to most German solar companies it remains strongly above its level when the financial crisis hit.