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					</table><p>Germany-based solar energy equipment supplier <a href="https://www.sma.de/en/" target="_blank" rel="noopener">SMA Solar Technology</a> has reported revenue of €1.52 billion (~$1.75 billion) for 2025, a 0.9% year-over-year (YoY) decline from €1.53 billion (~$1.76 billion) in 2024.</p>
<p>The Large Scale and Project Solutions division reported a 7.9% YoY increase in revenue, reaching €1.27 billion (~$1.46 billion) from €1.18 billion (~$1.35 billion) a year ago.</p>
<p>Sales in the Home and Business Solutions division declined by 30.2% YoY to €247.2 million (~$284.42 million) from €354.1 million (~$407.45 million) the year before, primarily due to intense competitive pressure and muted market demand amid challenging general macroeconomic circumstances.</p>
<p>The company&#8217;s net loss widened to €181.1 million (~$208.38 million) from €117.7 million.</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) were a loss of €65.4 million (~$75.25 million), compared with a loss of €16 million (~$18.41 million) the previous year.</p>
<p>The decline in EBITDA was due to lower sales volume and the resulting lower fixed cost degression in the Home and Business Solutions division; allocations to provisions for purchase commitments in Home &amp; Business Solutions; and provisions related to the restructuring and transformation program.</p>
<p>The earnings per share fell to a loss of €5.22 (~$6.01) from €3.39 (~$3.901).</p>
<p>Kaveh Rouhi, Chief Financial &amp; Legal Officer at SMA Solar Technology, said, “The EBIT for Home and Business Solutions amounted to minus €376 million (~$432.65 million) compared to minus €315 million (~$362.46 million) in 2024 due to the one-offs effects from inventory write-offs and scrapping of about €123 million (~$141.53 million), allocations to provisions for purchase commitments of €36 million (~$41.42 million) as well as R&amp;D and fixed assets impairments of €67 million (~$77.09 million). The overall reported EBIT margin for the SMA Group amounted to minus 12% compared to 6% in 2024. Operating EBIT margin was 3.6% in 2025 versus 6.3% in 2024.”</p>
<p>“Our order backlog remained at the same level as in 2024, with over €1.3 billion (~$1.49 billion) at the end of December &#8217;25, and product order backlog stood at €1 billion (~$1.15 billion). Net cash more than doubled to €176 million (~$202.52 million) at the end of December, mainly driven by the operative improvements and our solid operating profitability, while the negative one-timers are mostly noncash effects,” Rouhi added.</p>
<p><strong>Operational Highlights</strong></p>
<p>SMA Solar is developing a 3-phase hybrid solution available in two power classes. It will introduce this solution to its customers at Intersolar in June this year. In January, it introduced the Sunny Tripower X 60, a new storage solution for the U.S. market, which will be available later this year. Overall, the portfolio is much more attuned to customer demand while maintaining a more competitive cost base.</p>
<p>As part of the advanced integrated solutions concept, SMA will focus on software development and outsource hardware development for Home and Business Solutions to partners. To meet the need for greater competence in this area, the company has successfully ramped up operations at its  Global Competence Center in India.</p>
<p>The company added that its inverter system can meet data center requirements and enable them to connect to the grid. SMA Solar is using its SiC technology, with over 1 GW of track record in comparable use cases such as hydrogen and modular, flexible systems, making it a perfect fit for these challenging applications.</p>
<p><strong>Outlook for 2026</strong></p>
<p>The company expects group sales to range between €1.475 billion (~$1.69 billion) and €1.675 billion (~$1.93 billion), and EBITDA to range between €50 million (~$57.53 million) and €180 million (~$207.12 million) for 2026<strong>.</strong></p>
<p>The guidance is based on the assessment that sales in the Large Scale and Project Solutions division will be slightly above last year&#8217;s high, driven by the existing high order backlog and sustained demand. Sales in the Home and Business Solutions division are also expected to exceed the previous year&#8217;s level.</p>
<p>SMA Solar <a href="https://www.mercomindia.com/sma-solars-9m-revenue-up-7-on-large-scale-business-segment-growth" target="_blank" rel="noopener">reported</a> revenue of €1.13 billion (~$1.31 billion) for the first nine months (9M) of 2025, a 7% YoY decline from €1.06 billion (~$1.22 billion) in the prior year.</p>


SMA Solar’s Revenue Remains Flat for 2025 Amid Muted Market Demand


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					</table><p>Germany-based solar energy equipment supplier <a href="https://www.sma.de/en/" target="_blank" rel="noopener">SMA Solar Technology</a> reported sales of €684.9 million (~$795.6 million) for the first half (1H) of 2025, marking a 9.8% year-over-year (YoY) decline from €759.3 million (~$881.9 million).</p>
<p>Sales in the Home and Business Solutions division fell by 48.1% to €116.1 million (~$134.7 million), attributed to weaker demand and intensified competitive pressure.</p>
<p>The Large Scale and Project Solutions division posted an increase of 6.2%, reaching €568.8 million (~$660.9 million). This division accounted for 83% of SMA Group’s total sales, while the Home and Business Solutions segment contributed the remaining 17%.</p>
<p>During the first half of 2025, SMA sold 8,327 MW of solar inverters, down from 9,107 MW in 1H 2024. Of this total, 79.6% was exported to international markets. The company’s external sales were geographically distributed with 48.6% in Europe, the Middle East, and Africa; 32.7% in the North and South American region; and 18.8% in the Asia-Pacific region. The main markets during the reporting period included Germany, the U.S., the United Kingdom, and Australia.</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) plummeted by 88.7% YoY to €9.1 million (~$10.6 million) from €80.6 million (~$93.6 million). The decline in EBITDA was primarily due to lower sales volumes, reduced fixed-cost degression in the Home and Business Solutions segment, as well as inventory write-offs resulting from impairment tests. Additional factors included allocations to provisions for purchase commitments and provisions for doubtful receivables in the U.S., which stemmed from a customer’s insolvency filing.</p>
<p>SMA Solar Technology reported a net loss of €42.4 million (~$492.5 million) for 1H 2025, a stark reversal from the net income of €4.1 million (~$4.8 million) recorded in the same period last year, reflecting a YoY drop of 196.1%. Loss per share stood at €1.22 (~$1.42), compared to earnings of €1.27 (~$1.48) per share in 1H 2024.</p>
<p>As of June 30, 2025, SMA Group’s order backlog totaled €1,161.4 million (~$1,348.4 million). This represented a decline in line with overall market conditions and was largely comprised of orders within the Large Scale and Project Solutions division. Of the total, €848.3 million (~$983.7 million) was attributed to the product business. In comparison, the service business accounted for €313.1 million (~$363.9 million), primarily related to extended warranties purchased for periods ranging from five to ten years.</p>
<p>SMA adjusted its full-year 2025 guidance downward due to weaker-than-expected first-half results and ongoing market pressures<strong>. </strong>Sales are now expected to range between €1.45 billion (~$1.683 billion) and €1.55 billion (~$1.79 billion), down from the previous forecast of €1.7 billion ~$1.974 billion) to €1.85 billion ($2.14 billion). EBITDA is forecasted between €80 million (~$92.9 million) and €130 million (~$150.9 million), revised from the earlier guidance of €220 million (~$255.5 million) to €290 million (~$336.8 million).</p>
<p>This adjustment reflects persistent low demand in the Home and Business Solutions segment, and a slower recovery in the global solar inverter market. Inventory impairments and provisions related to customer insolvency in the U.S and competitive pricing pressures across key markets are also factors behind this adjustment.</p>
<p>SMA Solar’s Home Solutions division has been under pressure, contributing to a 9.4% YoY <a href="https://www.mercomindia.com/sma-solar-technologys-net-income-falls-80-misses-analyst-expectations/" target="_blank" rel="noopener">decrease</a> in Q1 2025 sales, extending the downward trend seen in 2024 when the company posted a 19.7% <a href="https://www.mercomindia.com/lower-home-solution-segment-sales-reduce-sma-solars-revenue-by-20/" target="_blank" rel="noopener">drop</a>.</p>


Lower Home Solution Sales Reduce SMA Solar’s 1H 2025 Revenue by 10% YoY

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