SMA Solar Technology reported first-half 2026 sales of €686.6 million, roughly level with the prior year (H1 2025: €684.9 million), or €708.9 million excluding €22.3 million in US customs duty reimbursements. The Large Scale & Project Solutions division saw sales fall 4.7 percent to €542.1 million, largely reflecting the customs duty effect, while Home & Business Solutions grew 24.5 percent to €144.5 million on stronger demand.
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EBITDA rose to €88.3 million (H1 2025: €9.1 million), lifting the margin to 12.9 percent from 1.3 percent, supported by €22.4 million from the sale of previously written-down inventories, €18.6 million in customs duty reimbursements recognised in the income statement, and €3.1 million from reversed personnel provisions. EBIT reached €62.4 million, against a loss of €19.0 million a year earlier, and net income came in at €72.8 million (H1 2025: −€42.4 million), with earnings per share at €2.10.
A stronger balance sheet, a fuller backlog
Free cash flow rose to €71.8 million, net cash climbed to €244.6 million, and the equity ratio improved to 31.7 percent. Record order intake in Large Scale & Project Solutions pushed the order backlog to €1,754.4 million as of 30 June 2026, up from €1,161.4 million a year earlier.
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CEO Jürgen Reinert said the combination of photovoltaics and battery storage was becoming standard as flexibility and grid stability gained importance, with rising electricity demand from data centres and AI further supporting growth. CFO Kaveh Rouhi pointed to the early refund of IEEPA tariffs deemed unlawful, a more favourable US dollar trend and cost reductions from the restructuring programme as key drivers for the improved outlook. Following its 16 July ad hoc announcement, SMA raised its 2026 guidance to sales of €1,625–1,725 million (2025: €1,516.0 million) and EBITDA of €180–230 million (2025: −€65.4 million). (hcn)
