SMA Solar Surges on Surprise Earnings, Global Demand Outlook
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SMA Solar Technology AG, Germany’s biggest solar company by market value, rose the most in three years in Frankfurt trading on earnings that topped analyst estimates. SMA said demand will surge in the second half, stabilizing costs.
The shares climbed 18 percent to 73.10 euros by the 5:30 p.m. close after SMA reported first-half results and confirmed full-year forecasts. Earnings before interest and tax were 103.7 million euros ($148 million) compared with the 83 million-euro median estimate of five analysts surveyed by Bloomberg.