SMA Solar Technology AG reported Group sales of €686.6 million for the first half of 2026, broadly unchanged from €684.9 million in H1 2025. Excluding the impact of €22.3 million in US customs duty reimbursements, sales stood at €708.9 million.

The company’s Large Scale & Project Solutions division recorded sales of €542.1 million, down 4.7% year on year from €568.8 million. SMA attributed the decline primarily to the accounting impact of US customs duty reimbursements and expects higher project realization in the second half of the year, particularly in the EMEA region.

Meanwhile, sales in the Home & Business Solutions division increased 24.5% to €144.5 million from €116.1 million, driven by higher demand.

SMA’s EBITDA rose sharply to €88.3 million, compared with €9.1 million in H1 2025, resulting in an EBITDA margin of 12.9% versus 1.3% a year earlier. The improvement was supported by €22.4 million in positive earnings effects from the utilization of previously written-down inventories, along with other restructuring-related effects and customs duty reimbursements.

EBIT increased to €62.4 million, compared with a loss of €19 million in the corresponding period last year. The EBIT margin improved to 9.1% from -2.8%.

The company’s net result turned positive at €72.8 million, compared with a net loss of €42.4 million in H1 2025. Earnings per share increased to €2.10 from a loss of €1.22.

Within Large Scale & Project Solutions, EBIT declined to €78.3 million from €113.4 million, impacted by higher scheduled depreciation and amortization as well as increased scrapping expenses. The division’s EBIT margin stood at 14.4%, compared with 19.9% in H1 2025.

Home & Business Solutions reported EBIT of -€21.5 million, substantially improving from -€129.2 million a year earlier. On an operational basis, EBIT increased to €40 million from €22.2 million, supported by higher sales and cost reductions implemented under SMA’s restructuring and transformation programme.

Order Backlog Reaches €1.75 Billion

SMA recorded record order intake in its Large Scale & Project Solutions division during Q2 2026, driving its total order backlog to €1.75 billion as of June 30, 2026, up from €1.16 billion a year earlier.

The backlog primarily relates to the Large Scale & Project Solutions division, including battery energy storage system (BESS) projects through Altenso GmbH. Product business accounted for €1.43 billion of the total backlog, compared with €848.3 million in H1 2025.

SMA said the increasing deployment of renewable energy is driving demand for flexibility and grid stability solutions, with the combination of solar PV and battery storage becoming increasingly important. The company also identified rising electricity consumption from data centers and artificial intelligence applications as a growth driver for reliable and sustainable energy solutions.

FY2026 Guidance Raised

SMA raised its full-year 2026 guidance in July, with the company now expecting sales of €1.625 billion to €1.725 billion, compared with €1.516 billion in 2025.

The company also raised its EBITDA guidance to €180 million to €230 million, compared with negative €65.4 million in 2025.

SMA said the revised outlook reflects reduced business risks, improved operating conditions across both divisions and the impact of its cost-reduction measures. The company expects stronger project realization in Large Scale & Project Solutions and improved sales performance in Home & Business Solutions during the second half of 2026.

However, SMA cautioned that changes in trade restrictions, tariffs, currency movements and geopolitical tensions could affect the assumptions underlying its revised guidance.