NIESTETAL (dpa-AFX) - The inverter manufacturer SMA Solar is having to set significantly lower targets for the current fiscal year due to full inventories. Earnings before interest, taxes, depreciation and amortization (EBITDA) in 2024 are expected to be only €80 million to €130 million and thus noticeably below the previous forecast of €220 million to €290 million, as the MDax company announced late Tuesday evening in Niestetal, Hesse.

SMA Solar justified the reduced forecasts with a delayed increase in incoming orders, as customers' warehouses are still full. These must first be reduced before new orders can be placed. In addition, there are now uncertainties due to the elections in Europe and the USA.

The Managing Board now expects earnings of between 1.55 and 1.7 billion euros - previously the figure was between 1.95 and 2.22 billion euros. Overall, SMA Solar would be significantly below the previous year's level: For 2023, the company had reported sales of just over 1.9 billion euros and an operating profit of 311 million euros.

Meanwhile, the half-year report is to be published as planned on August 8./ngu