SMA Solar stock gains as nine-month results lift 2026 outlook
Published on 11/12/2026 at 18:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSResults sharpen the 2026 outlook
- Nine-month sales increased year over year while the order backlog reached 1.9 billion euros.
- Management lifted the lower ends of its 2026 sales and EBITDA guidance ranges.
- Reported profitability improved sharply, but one-time effects remain material for earnings quality.
SMA Solar Technology released its January-to-September 2026 figures on Thursday, November 12, and raised the lower ends of its full-year sales and EBITDA guidance. The update strengthens the operating case, although several one-time effects remain important for assessing recurring profitability.
Guidance moves toward the upper range
According to AD HOC NEWS, group sales reached 1,160.7 million euros in the first nine months, compared with 1,134.7 million euros a year earlier. The order backlog rose to 1,857.6 million euros at the end of September from 1,281.7 million euros a year earlier.
SMA narrowed its 2026 sales guidance to 1,675 million to 1,725 million euros from 1,625 million to 1,725 million euros. The EBITDA range moved to 205 million to 230 million euros from 180 million to 230 million euros. Management said first-nine-month performance and expected fourth-quarter trends support the upper half of both ranges.
Reported earnings rebound sharply
EBITDA including listed effects reached 146.3 million euros, compared with a loss of 16.9 million euros in the prior-year period. EBITDA before one-time effects was 109.6 million euros, below the prior-year 118.6 million euros. Net income improved to 98.9 million euros from a loss of 144.5 million euros.
The company said the reported result included effects from inventory utilization, provision changes, restructuring-related reversals and customs reimbursements. That mix makes the progression of recurring margins and cash generation a key focus for investors. SMA is scheduled to discuss the nine-month performance with analysts and investors on a conference call at 13:30 CET on Thursday.
Share trades above November close
SMA Solar stock traded at 49.24 euros on Lang & Schwarz at 18:08 CET on Thursday, November 12, 2026, 2.07 percent above the Xetra close of Wednesday, November 11, at 48.24 euros.
SMA Solar Technology AG
- Company: SMA Solar Technology AG
- ISIN: DE000A0DJ6J9
- Ticker: S92
- Listing: Frankfurt Stock Exchange, Prime Standard
- Indices: SDAX and TecDAX
- Lang & Schwarz quote: 49.24 euros at 18:08 CET on November 12, 2026
- Change versus Xetra close: 2.07 percent above 48.24 euros on November 11, 2026
- 2026 sales guidance: 1,675 million to 1,725 million euros
- 2026 EBITDA guidance: 205 million to 230 million euros
German equities remain anchored by the DAX market, while SMA-specific attention now turns to fourth-quarter execution and the quality of reported earnings.
