SMA Solar Technology AG reported higher revenue for the nine months ended September 30 and used the update to raise the lower bound of its full-year sales target while narrowing its earnings guidance.
The company recorded sales of €1,160.7 million for the nine-month period, up 2.3% from €1,134.7 million a year earlier. That total includes a €22.3 million reduction related to U.S. customs duty reimbursements.
Adjusted EBITDA for the period came in at €109.6 million, down from €118.6 million in the prior-year period. When one-time items are included, EBITDA amounted to €146.3 million compared with an EBITDA loss of €16.9 million in the same period a year earlier. EBIT improved to €107.4 million from a loss of €123.2 million the prior year.
Following the financials, SMA’s shares rose by as much as 3.6% on the market.
Management updated its guidance for fiscal 2026, now expecting sales between €1,675 million and €1,725 million. That raises the lower limit from the previous range of €1,625 million to €1,725 million. The company also tightened its EBITDA guidance to a range of €205 million to €230 million, narrowed from the prior guidance of €180 million to €230 million.
For context, SMA reported full-year 2025 sales of €1,516.0 million and an EBITDA loss of €65.4 million.
Commenting on the results and outlook, Dr. Kaveh Rouhi, CFO of SMA, said: "Our business performance during the first nine months confirms our expectations for the full year." He added: "Based on the course of business to date and the trends anticipated for the fourth quarter, we expect to reach the upper half of our raised guidance ranges for both sales and EBITDA."
Performance across SMA’s business units was mixed. The Large Scale & Project Solutions division posted sales of €928.8 million, a decline of 2.6% from €953.4 million a year earlier, with EBIT of €130.2 million compared with €199.7 million previously. By contrast, the Home & Business Solutions division expanded sales by 27.9% to €231.9 million from €181.3 million.
Order momentum improved: the backlog stood at €1.9 billion as of September 30, up from €1.3 billion a year earlier. Free cash flow strengthened to €135.8 million, up from €114.5 million in the prior year.
The operational snapshot shows revenue growth accompanied by narrower adjusted margin performance but improved headline profitability when one-off items are considered. Management’s guidance shift signals confidence in closing the year toward the upper half of the revised ranges for both sales and EBITDA, according to the CFO’s statement.