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SMA Solar doubles 2010 profit

SMA Solar Technology AG’s profit soared 127% in 2010 to €365 million, but the company warns of growth stagnation in 2011.

By Renewable Energy Focus staff

Group sales doubled to €1.9 billion and the EBIT jumped 126% to €516m compared to 2009.

SMA Solar says it believes the development of solar photovoltaic markets “is only at an initial stage,” and that demand will increase “significantly” in the medium term.

“However, due to changes in support programmes in important European solar markets, SMA predicts a temporary stagnation in the market in 2011,” the company says in a statement.”

For 2011, SMA Solar expects sales of €1.5-1.9bn.

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Energy infrastructure  •  Photovoltaics (PV)  •  Policy, investment and markets