SMA Solar FY16 Profit More Than Doubles; Sees Weak Q1; Backs FY17 View
NIESTETAL (dpa-AFX) - Solar energy equipment supplier SMA Solar Technology AG (SMTGF.PK) reported Thursday that its fiscal 2016 net income more than doubled to 29.6 million euros from last year's 14.3 million euros. Earnings per share mounted to 0.85 euros, higher than 0.41 euros a year ago.
SMA Group sales were 946.7 million euros, down from 981.8 million euros a year ago due to an unexpectedly sharp decrease in average selling prices.
The company achieved a sales record by selling inverter output of 8.2 GW, higher than 7.3 GW last year.
Earnings before interest, taxes, depreciation and amortization or EBITDA increased significantly to 141.5 million euros.
Further, the Managing Board and the Supervisory Board will recommend that the Annual General Meeting on May 23 set a dividend of 0.26 euros per share for fiscal year 2016. This corresponds to a dividend payout ratio of 31% of net income.
Looking ahead, for the first quarter of 2017, the SMA Managing Board is anticipating sales of 165 million euros to 175 million euros, compared to 248.1 million euros a year ago. EBITDA would be 15 million euros to 18 million euros, compared to 41.3 million euros last year.
Further, SMA confirmed sales and earnings guidance for fiscal year 2017, which forecasts sales of between 830 million euros and 900 million euros, and EBITDA of between 70 million euros and 90 million euros.
Copyright RTT News/dpa-AFX