SMA Solar Slides Most in Month in Frankfurt on Decline in SalesStefan Nicola
SMA Solar Technology AG, Germany’s biggest solar company by market value, fell the most in almost a month in Frankfurt after forecasting a plunge in revenue.
SMA slid as much as 7.5 percent, the biggest intraday drop since May 24, after saying by e-mail today that second-quarter sales may be in a range of 240 million to 280 million euros ($370 million), compared with 429 million euros a year earlier.
The Niestetal-based producer of inverters used to convert energy from solar panels into power that can be transmitted on a grid plans to cut staffing to counter the slump. It’s in talks with its works council on cuts above those announced in October, spokeswoman Susanne Henkel said, confirming a Reuters report.
DPA reported the sales numbers late yesterday.