NIESTETAL (dpa-AFX) - Inverter manufacturer SMA Solar continues to benefit from the boom in solar installations and is raising its outlook for the full year thanks to good business in the third quarter. Thus, sales of 1.8 to 1.9 billion euros should now be achieved in 2023, as the company from Niestetal in Hesse surprisingly announced on Wednesday after the close of the stock exchange. Previously, the plan had been for 1.7 to 1.85 billion euros. Management expects earnings before interest, taxes, depreciation and amortization to be between 285 and 325 million euros. Previously, the plan had been for 230 to 270 million euros. The shares rose by more than ten percent on the Tradegate trading platform.

In the first nine months of the year, SMA Solar achieved a profit of between 1.335 and 1.345 billion euros according to preliminary figures - significantly more than the 724 million euros achieved in the same period last year. The Hessians increased the operating result from 50 million euros a year earlier now expected to 230 to 235 million euros. Business was particularly strong in the Large Scale & Project Solutions and Commercial & Industrial Solutions businesses in the third quarter, the company said./men/he