SMA Solar Lowers FY Guidance – Quick Facts
SMA Solar Technology Ag (SMTGF.PK) announced its Managing Board adjusted the company’s sales and earnings guidance for the current fiscal year. The Board now expects sales of between 800 million euros and 850 million euros for 2018 (previously: 900 million euros to 1 billion euros). The Managing Board now expects break-even to slightly negative EBITDA (after one-off effects from restructuring) for 2018 (previously: EBITDA of 90 million euros to 110 million euros).
SMA Solar stated that the background for the revision is a further sharp fall in prices and project postponements as a result of the market downturn in China. The Managing Board announced structural adjustments to SMA which will incur one-off costs that will negatively affect the company’s earnings.
SMA Solar noted that its Managing Board is anticipating sales growth and positive EBITDA for 2019.
by RTTNews Staff Writer
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