SMA Solar Technology AG, a German solar equipment supplier, recorded revenue of €221 million (~$232 million) in the first quarter (Q1) of 2022, a year-over-year (YoY) decline of 8% from €240 million (~$250.07 million) in the same period of 2O21.

The company attributed the fall in revenue to decline in sales which were impacted by the shortage of electronic chips.

SMA Solar’s inverter output generation totaled 2.8 GW in Q1 2022, a YoY fall of 17.6% from 3.4 GW produced and sold in Q1 2021.

The German firm’s adjusted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) for Q1 amounted to €15 million (~$16 million), a YoY dip of 25% from €20 million (~$21 million) in the previous year’s Q1.

The company’s net income for Q1 2022 amounted to €3 million (~$3.38 million), a YoY decline of 62.5% from €8 million (~$8.21 million) last year.

SMA Solar’s revenue from external sales in the commercial and industrial (C&I) solutions segment amounted to €57 million (~$60 million) in Q1, a decline of 8.06% from €62 million (~$65 million) in the same period a year ago. The company said that the fall in C&I sales was due to the shortage of electronic components.

Full-year 2021

SMA Solar’s sales revenue for the financial year 2021 amounted to €984 million (~$1.04 billion), a minor decline of 4.17% from €1,027 million (~$1.49 billion) in FY20.

The company posted an EBITDA of €9 million (~$9.07 million) in FY 2021, a decline of 88% from €72 million (~$75.1 million) in the previous financial year.

The company stated that the earnings in 2021 were impacted by the termination of a long-term contract for operation and maintenance services for PV power plants.

SMA Solar’s inverter output generation totaled 13.6 GW in FY 2021, a decline of 6% from 14.4 GW generated in the previous fiscal.

The solar equipment supplier posted a net income of €28 million (~$30 million) in FY 2021, a 22% surge from €23 million (~$24.17 million) in the previous financial year.

SMA Solar’s capital expenditures (CAPEX) amounted to €13 million (~$14 million) in FY 2021, a decline of 68% from €39 million (~$41 million) in the previous fiscal.

Sungrow, Sineng Electric, and FIMER India were among the top solar inverter suppliers to the Indian market in 2021, according to Mercom’s recently released India Solar Market Leaderboard 2022.