NIESTETAL (dpa-AFX) - The inverter manufacturer SMA Solar increased sales and earnings significantly last year. The company benefited from continued good demand. In addition, the supply chains eased. SMA Solar expects a more volatile environment for the new year. Sales growth is likely to weaken. The company anticipates a decline in operating earnings. Nevertheless, investors reacted positively on the stock market on Thursday. The outlook was better than expected by some analysts.

The MDax-listed share jumped a good 15 percent to 55.25 euros by midday, more than making up for the previous day's significant loss. The share price is still down almost nine percent this year and has fallen by a quarter over the past 12 months. However, the share is known for its volatility. Since the record high of EUR 112.70 in summer 2023, the share price has fallen by around 50 percent.

"Slightly positive" was the initial conclusion of one trader with regard to the figures and outlook. In particular, the sales target for 2024 showed confidence and was above market expectations. The solar group performed well in the final quarter and in 2023 as a whole, as expected, commented Jefferies analyst Constantin Hesse. The outlook is in line with expectations.

Based on preliminary figures, sales increased by 78.6% to €1.9 billion in 2023, as SMA Solar announced on Thursday in Niestetal, Hesse. Inverter output sold amounted to 20.5 gigawatts, compared to 12.2 in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved even more strongly from €70 million to €311 million. The company thus achieved its forecast, which was raised several times last year. Overall, SMA posted a profit of €225.7 million, compared to €55.8 million in the previous year. "Overall, we can look back on a successful 2023 and are very satisfied with our operating performance," commented Group CEO Jürgen Reinert on the figures.

The manager is optimistic for the current year, but expects a weakening trend. "Despite the changed market environment and the associated higher volatility compared to the previous year, we want to continue our profitable growth overall." Sales are expected to amount to €1.95 billion to €2.22 billion. SMA expects an operating profit of between €220 million and €290 million. The company can look back on an order backlog of €1.7 billion, compared to €2.1 billion in the previous year./nas/lew/men