PVTIME – Recently, SMA published its unaudited results for 2024, which paint a rather worrying picture. The company’s revenues fell to €1.53 billion ($1.65 billion), almost 20% less than the previous year. Its EBITDA plummeted from €311 million in 2023 to a staggering loss of €16 million in 2024, a drop of around 105%. Similarly, EBIT fell sharply from €269.5m to a loss of €93.1m.
Shipment data shows that SMA’s inverter sales reached 19.5 GW in 2024, a slight decrease of just 1 GW compared to 2023. Despite this small change in sales volume, the company experienced a significant decline in performance.
The slump is mainly attributed to a combination of lower demand in Europe and high inventory levels at distributors. These factors led to a significant drop in sales in both the Home Solutions and Commercial and Industrial Solutions divisions. There was, however, a silver lining in SMA’s business with large-scale photovoltaics and project solutions. Here revenues rose from €845 million to €1,176 million, a remarkable increase of 39.2%, and EBITDA more than doubled from €103.8 million to €227 million. This shows that while the company is struggling in some segments, its large scale operations are performing relatively well and could potentially be a driving force for its recovery in the future.
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