SMA Solar falls after reporting material slowdown in quarterly order intake
09/11/2023 10:22
** Shares in SMA Solar Technology S92G.DE are down 3.7%
after Germany's largest solar group published its 9-month
results on Thursday
** The company recorded 9-month material slowdown in order
intake -83% YoY to EUR 109 million
** "We were surprised by the material slowdown in orders
both YoY and QoQ, particularly in large scale", Jefferies says
** Jefferies adds that the material order slowdown is "quite
concerning," as it puts risk on 2024 estimates
** The SMA Managing Board confirms its sales and earnings
guidance for FY 2023
** Including today's fall the stock has dropped by 24% YTD
(Reporting by Mateusz Dobrzyniewski)
((Mateusz.dobrzyniewski@thomsonreuters.com))