The solar technology manufacturer SMA Solar is unable to meet its forecasts and also refers to uncertainties in connection with the outcome of the European elections and the upcoming presidential election in the USA.

The MDax-listed company announced on Tuesday evening that sales in the current fiscal year are only expected to be in a range between 1.55 and 1.7 billion euros, compared to 1.95 to 2.22 billion euros previously. The company is now aiming for a profit (EBITDA) of between 80 and 130 million euros - previously it was 220 to 290 million euros. In addition to a persistently volatile market, the reason for this is the delayed increase in incoming orders due to continued high stock levels at distributors and installers. "In addition, there is new uncertainty in the market due to the outcome of the European elections and the upcoming elections in the USA on November 5," it said without providing further details.

However, the Large Scale & Project Solutions segment continues to develop in line with expectations, according to SMA. The Managing Board continues to expect a strong increase in sales and EBITDA for the year as a whole compared to the previous year.

(Report by Ralf Bode, edited by Birgit Mittwollen. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com)