SMA Solar Reports Mixed Results in H1 2024 Amid Challenging Market Conditions
Aug 14, 2024
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Recently, German solar photovoltaic inverter supplier SMASolarTechnology released its financial report showing that in the first half of 2024, the company's sales decreased by 3% year-on-year to 759.3 million euros, and inverter products shipped 9.107 GW, a significant increase of 26.3% compared to the same period last year's 7.213 GW. In the first half of the year, SMA Group's net profit was approximately 44 million euros, a year-on-year decrease of over 57%. The company attributed the volume increase and price decrease in the first half of the year to the sustained high inventory levels of distributors and installers, as well as the highly challenging market environment.
In the first half of the year, SMA's household solution business report saw a significant decline, from 327.3 million euros in the same period of 2023 to 110 million euros; The sales revenue of the C&I solutions business was 113.6 million euros, also lower than the 194.2 million euros in the first half of 2023; Compared to the aforementioned two sectors, the large-scale centralized solution business performed well, with a revenue of 536 million euros in the first half of the year, an increase of over 108% year-on-year.
As of June 30, 2024, SMA's inventory increased from 559.1 million euros as of December 31, 2023 to 711.7 million euros, with a total order backlog of 1.35 billion euros, mainly from the EMEA region.