German inverter manufacturer SMA Solar Technology AG closed the 2017 fiscal year with a sales record of around 8.5 GW (2016: 8.2 GW). According to provisional estimates by the Managing Board, SMA generated sales of more than €890 million ($1,091 million) in 2017 compared to €946.7 million in 2016. The earnings before interest, taxes, depreciation and amortization (EBITDA) of expected more than €95 million (2016: €141.5 million) are at the top end of the Managing Board's guidance. Net income is expected to amount to approximately €30 million and is therefore on par with the previous year (2016: €29.6 million).
For the 2018 fiscal year, the SMA Managing Board expects sales of €900 million to €1.0 billion and anticipates EBITDA of between €90 million and €110 million, mainly driven »by the generally good market development and in particular by the continued strength of the Asian and European business and the rising demand for system technology for storage applications,« said CEO Pierre-Pascal Urbon. SMA will publish the consolidated financial statements for 2017 on March 28, 2018.
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