Based on the resulting one-off effect, the SMA Managing Board now expects an EBITDA between €20 million and €30 million for fiscal year 2021 (previously: €50 million to €65 million). "The possible early dissolution of an existing O&M agreement is a unique case," said SMA Chief Executive Officer Jürgen Reinert.
Positive medium-term prospects
"The reason for the ongoing negotiations with our customer are defects in some of the solar parks to be maintained by SMA, which only became apparent after the contract was concluded. It would only have been possible through unjustifiable expenses for SMA to fulfil its contractual obligations regarding the performance of the PV power plants. Accordingly, after thorough consideration, we have decided to aim for a cancellation agreement in order to shield SMA from greater damage. Our decision also expresses our responsible handling of long-term risks for the company as well as our high quality standards."
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The Managing Board sees positive medium-term business prospects for SMA: "With the SMA strategy 2025 we have created an excellent basis for growth and to profit from the enormous potential of the accelerating decarbonization, digitalization, and decentralization of the global power supply." (hcn)
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