PVTIME – SMA Solar Technology AG (SMA Solar), a leading German solar inverter manufacturer, has recently released its financial report for the first half of 2024.
In the reporting period, SMA Solar achieved sales of €759.3 million, representing a 3% decrease compared to €778.9 million in the first half of 2023. The company shipped 9.107GW of inverters, representing a significant increase of 26.3% compared to 7.213GW in the first half of 2023. SMA Solar attributed its performance to the continued high inventory levels at distributors and installers, as well as the prevailing challenging market conditions.
In the first half of 2024, sales in the Home Solutions segment declined to €109.9 million, compared to €327.3 million in the same period in 2023. Commercial & Industrial Solutions sales reached €113.6 million, down from €194.2 million in the first half of 2023. In line with expectations, Large Scale & Project Solutions posted considerable sales growth, reaching €535.8 million compared to €257.4 million in the first half of 2023.
Furthermore, as of 30 June 2024, SMA Solar’s inventory levels increased to €711.7 million from €559.1 million as of 31 December 2023. Its total order backlog reached €1.35 billion, primarily from the EMEA region.
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