SMA – which is cutting about 1,600 jobs worldwide, or about one-third of its staff – said it expects operating (Ebit) earnings to be in the red by up to €60m this year.
The German group said the effects of job cuts and other cost-cutting measures will not kick-in until the second half of 2015 “at the earliest” – but it does expect to return to turn an Ebit profit in 2016.
SMA is predicting sales of €730m to €770m this year.
