SMA Solar shares rise on 'overall positive set of results'
29/02/2024 09:33
** Shares in SMA Solar S92G.DE rise 11.9% after the German
solar power equipment maker reported better than expected
preliminary FY results and outlook
** The company reported FY sales of EUR 1.90 billion ($2.06
billion)and EBITDA of EUR 311 million, above company-compiled
analysts consensus of EUR 1.85 billion and EUR 305 million
respectively
** Guido Hoymann from Metzler Equities says results were
"better than feared", saying "compared to the rest of the
industry, SMA is still doing quite well"
** The company also published a 2024 EBITDA outlook of EUR
1.95 - 2.2 billion which exceeds analysts expectations of EUR
1.94 billion according to company-compiled consensus
** Deutsche Bank Research Analyst Mengxian Sun says order
backlog still shows a sequential declining trend but stayed at a
higher level than anticipated
** "Overall positive set of results, outperforming its peers
significantly" - Mengxian Sun
** The stock is top performer of the German mid-cap index
.MDAXI
($1 = 0.9223 euros)
(Reporting by Chiara Holzhaeuser)