SMA Solar 2026 Sales Outlook Raised After Q1 Loss

SMA Solar's Q1 sales rose 4% to €340.9 million, but they reported a €1.6 million net loss, compared to a profit last year.
By Newsroom | Business, Technology |

SMA Solar Technology AG has recalibrated its financial projections for 2026, now anticipating sales and earnings towards the upper end of its previously stated ranges. This adjustment follows a first quarter that saw revenue inch up while the company booked a net loss, a stark contrast to the profit recorded in the same period last year.

The company posted first-quarter sales of €340.9 million, a 4% rise from €327.7 million in the prior year. Concurrently, SMA reported a net loss of €1.6 million, a notable shift from a net profit of €5.5 million a year prior. This outcome, according to company statements, was partly influenced by deferred tax expenses.

The refined guidance places expected sales between €1,475 million and €1,675 million, an upward revision from the initial forecast. Earnings before interest, taxes, depreciation, and amortization (EBITDA) are now projected in the range of €50 million to €180 million, also adjusted towards higher figures. The previous year's EBITDA stood at –€65.4 million.

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Division Performance and Market Murmurings

SMA's Home & Business Solutions (HBS) division showed marked improvement compared to the first quarter of 2025. The Large Scale & Project Solutions division, which continues to be the primary revenue driver, contributing over 80% of sales, performed in line with expectations. The backlog in this division includes significant battery energy storage system (BESS) projects.

CEO Jürgen Reinert pointed to "clear progress" from the company's restructuring and transformation efforts, noting a "noticeable stabilization" in demand for residential and commercial systems since March. This is being interpreted as an early indicator of market recovery.

However, the long-term impact of these demand shifts remains uncertain. Market conditions continue to be described as volatile, impacted by geopolitical uncertainties and trade-related issues, including tariffs and the ongoing Middle East conflict.

Operational Undertones and Strategic Positioning

Beyond the net loss, SMA's overall operating profits saw a slight increase to €13.3 million, up from €11.4 million year-on-year, with an improved operating margin of 3.9% compared to 3.5%.

The company anticipates stronger revenue growth in the second half of the year for the Large Scale & Project Solutions segment, attributing this to a robust project pipeline and the planned execution of key projects.

SMA, a specialist in photovoltaic system technology, positions itself as a key player in the transition towards a decentralized, digital, and renewable energy supply. With over 4,000 employees across 20 countries, the company has been listed on the Frankfurt Stock Exchange's Prime Standard since 2008 and is a component of the TecDAX and SDAX indices.

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The first quarter financial report covers the period from January to March 2026.

Frequently Asked Questions

Q: Why did SMA Solar Technology AG change its 2026 outlook?
SMA Solar Technology AG raised its 2026 sales and earnings outlook to the upper end of previous ranges. This comes after a first quarter where sales increased but the company reported a net loss.
Q: What were SMA Solar's first-quarter results for 2026?
In the first quarter of 2026, SMA Solar had sales of €340.9 million, which is 4% more than last year. However, they reported a net loss of €1.6 million, unlike the profit made in the same period last year.
Q: How did SMA Solar's different divisions perform in the first quarter of 2026?
The Home & Business Solutions division improved. The Large Scale & Project Solutions division, which makes most of the money, performed as expected and has many battery storage projects in its backlog.
Q: What is SMA Solar's updated financial forecast for 2026?
SMA Solar now expects sales between €1,475 million and €1,675 million. They also predict earnings before interest, taxes, depreciation, and amortization (EBITDA) between €50 million and €180 million.
Q: What are the main reasons for the market changes affecting SMA Solar?
Market conditions are still unstable due to world events, trade issues like tariffs, and the conflict in the Middle East. Demand for residential and commercial systems has shown signs of getting better since March.