SMA Solar reports solid nine-month figures and exceeds expectations
SMA Solar has created a promising basis for further recovery with the figures presented for the first nine months of 2026. Both revenue and operating results could be improved, and in the third quarter, the company slightly exceeded analysts’ forecasts.
The order backlog also recorded strong growth.
Investors reacted positively to the publication of the figures; the stock was slightly in the plus in pre-market trading.
In the first nine months of the year, SMA Solar achieved revenue of €1.160.7 million, an increase of 2.3 percent compared to the previous year. Taking into account the negative effects of US import duties of €22.3 million, growth would even be around 4.3 percent.
The result before interest, taxes, depreciation and amortization (EBITDA) increased significantly to €146.3 million, after a value of minus €16.9 million was reported in the previous year. The result before special effects, however, fell to €109.6 million, after it amounted to €118.6 million in the previous year. The reported EBITDA benefited from positive special effects and import duty refunds.
The company returned to the black. EBIT reached €107.4 million after a loss of €123.2 million in the previous year. Net income amounted to €98.9 million, which corresponds to earnings per share of €2.85, compared to minus €4.16 in the previous year.
In the third quarter, SMA Solar recorded revenue of around €474 million, which is slightly above the analyst consensus of €472 million. Compared to the €450 million from the previous quarter, this represents growth of approximately 5.4 percent. SMA also exceeded expectations for EBITDA, achieving €58 million, which was just above the consensus estimate of €57 million. In the previous quarter, a negative EBITDA of €26 million was recorded.
For the full year, the Management Board has refined the forecast. SMA now expects revenue between €1.675 and €1.725 billion and EBITDA of €205 to €230 million. Both figures should thus be in the upper half of the previous forecast ranges. In 2025, revenue was €1.516 billion, and EBITDA was minus €65.4 million.
The order backlog of €1.86 billion provides additional tailwind. This corresponds to an increase of approximately 45 percent compared to the previous year. The Large Scale division alone recorded order intake of €480 million in the third quarter.
Source
“SMA Solar: So gut war das Q3”
Read the original report (in German) ↗This story was written with the help of AI from the original report credited above and published after automatic checks. No person read it before publication. Errors reported to us are corrected and listed on our corrections page. Read our editorial policy · Report an error · Corrections
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