SMA Solar Technology Cuts FY Outlook - Quick Facts

(RTTNews) - SMA Solar Technology AG (SMTGF.PK) cut its EBITDA and sales forecast for 2021, due to the ongoing supply bottlenecks for electronic components.

The company still expects sales in the second half of the year to be higher than in the first half. However, according to the Executive Board, these will remain below the most recently forecast level.

The shortage of electronic components currently affecting the entire electronics industry has, contrary to expectations, also worsened significantly for SMA in the short term due to the latest cancellations of firmly committed delivery quantities. In addition, customer projects have been postponed to the following year, SMA said in a statement.

SMA now expects sales for fiscal 2021 to be in the range of 980 million euros to 1.03 billion euros compared to the prior outlook of 1.075 billion euros to 1.175 billion euros.

The company now projects annual EBITDA to be in the range of 50 million euros to 65 million euros compared to the prior estimation of 75 million euros to 95 million euros.

According to the Managing Board, the very good medium-term business prospects for SMA have not changed.