Latest
Features , Interviews , Long Reads
The company’s net income for the first half of 2026 was €72.8 million (US$84 million). Image: SMA Solar
German solar inverter producer SMA Solar increased its sales and earnings in the first half of 2026 (H1), returning to profit compared with the same period last year.
The company recorded EBITDA of €88.3 million (US$102 million) including €22.4 million of “positive effects” from previously written-down inventory sales and €18.6 million in reimbursed US customs duty payments.
This article requires Premium Subscription Basic (FREE) Subscription
Already a subscriber? Sign In
Try Premium for just $1
Full premium access for the first month at only $1
Converts to an annual rate after 30 days unless cancelled
Cancel anytime during the trial period
Premium Benefits
Expert industry analysis and interviews
Digital access to PV Tech Power journal
Exclusive event discounts
Or continue reading this article for free
Sales for the first six months of the year reached €686.6 million, staying roughly flat compared with H1 2025 (€684.9 million). The majority of that came from SMA’s large-scale project business, which saw a 4.7% decline to €542.1 million. The decline is due to the US customs duty reimbursement, as the levies that SMA previously passed on to consumers are recorded as reductions in sales, the company said.
The company’s net income for the first half of 2026 was €72.8 million, a major improvement on the €42.4 million in losses it recorded in H1 2025 and losses of €1.6 million in its Q1 results.
While it benefited from US tariff reimbursement in its earnings, as well as cost-cutting measures, SMA’s results for the period were not without challenges. Its residential and C&I business recorded negative EBIT of €21.5 million, though this is a significant improvement on the €129.2 million lost in the first half of 2025.
“The market environment in the first half of the year continued to be characterised by intense competition and geopolitical uncertainties. With sales of around €709 million before customs duty reimbursements and an order backlog of €1.75 billion, we have performed well in this environment,” said Jürgen Reinert, CEO of SMA.
“Our cost-cutting measures also had a positive impact in the first half of 2026,” he added. “At the same time, several significant risks have decreased substantially since the beginning of the fiscal year, with positives including the early refund of the International Emergency Economic Powers Act (IEEPA) tariffs deemed unlawful in the second quarter, and the currently more favourable trend in the US dollar exchange rate.
“With the rising share of renewable energies, flexibility and grid stability are moving into the spotlight. The combination of photovoltaics and battery storage systems does exactly that, and it is becoming the norm. Driven not least by data centres and AI applications, electricity consumption is rising, thus increasing the global demand for reliable, sustainable energy. As a system and solution provider, we are addressing precisely these requirements and will continue to benefit from these developments.”
SMA Solar expects a stronger second half of 2026, and in its preliminary Q2 results it revised its full-year guidance upwards. It expects sales between €1,625 million and €1,725 million and EBITDA of €180 million to €230 million.
PV Tech recently published a deep dive into Europe’s strong base of solar inverter manufacturing companies and capacity, which is likely to benefit from the shifting dynamics affecting the solar supply chain in China and the US.
Understanding technology and supplier selection for Europe’s utility-scale PV market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of PV module, inverter and battery supplier selection; product availability, technology offerings, supply chain traceability, quality assurance, factory auditing, system reliability, and supplier bankability.
Returning in 2027 for its 14th edition, Solar & Storage Finance Europe will bring together the brightest minds representing funds, banks, developers, utilities, government and industry across Europe and the UK on a programme that is solutions-focused from top to tail. The event is designed to enable leaders at the forefront of solar and storage investment and deployment in Europe to scale, learn and land themselves industry defining partnerships.
Read Next
IPP Recurrent Energy has secured US$695 million in financing to support a 330MW solar PV project in California.
Rezolv Energy has secured the final legal approval to begin construction of its 1.2GW Dama Solar project in Arad County, western Romania.
South Korean PV producer Hanwha Solutions, parent company of Q Cells, has had a long-contested passivation patent revoked in Europe.
Solar generation increased by up to 17% across several European markets during this summer’s heatwaves, according to think tank Ember.
Websol has begun a brownfield upgrade of a 600MW mono PERC cell manufacturing line to TOPCon, increasing its total cell capacity to 1.35GW.
LevelTen’s latest report into European PPA prices includes figures on ‘hybrid’ PPAs, combining a renewable energy generation asset and a BESS.
Most Read
Features , Featured Articles
Upcoming Events
San Francisco Bay Area, USA
https://www.pv-tech.org/sma-solar-boosts-sales-and-earnings-in-h1-2026/
