Bloomberg News

SMA Solar Slides Most in Month in Frankfurt on Decline in Sales

June 21, 2013

SMA Solar Technology AG (S92), 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.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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