SMA Solar soars on annual outlook hike
05/10/2023 07:35
** Shares in SMA Solar Technology S92G.DE rise 15.5% in
early Frankfurt trade after Germany's largest solar group again
raised its FY outlook based on "very positive" Q3 development
** The company expects Q3 revenue of 555-565 million euros
($584.14-594.66 million) vs 252 million euros in Q3 2022, and Q3
EBITDA of 105-110 million euros vs 34 million a year earlier
** SMA cites "very positive" revenue and earnings
development in its Large Scale & Project Solutions and
Commercial & Industrial Solutions segments in Q3
** It expects FY sales of 1.8-1.9 billion euros vs previous
guidance for 1.7-1.85 billion euros, and FY EBITDA of 285-325
million euros vs 230-270 million previously
** A local trader points to "especially strong" earnings
guidance, noting expectations were "rather negative"
** The company last raised its annual guidance in June
($1 = 0.9501 euros)
(Reporting by Anna Mackenzie)
((Anna.mackenzie@thomsonreuters.com))