SMA Solar Sales Rise as European Rooftop Demand Grows
SMA Solar reported a 27 percent rise in first-quarter sales as the Iran war spurred European rooftop demand. The firm expects sales to hit its upper forecast.
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SMA SOLAR TECHNOLOGY AG grew Q1 home and business sales 27% to 61 million euros ($71.5 million) compared to 48 million euros a year earlier, following geopolitical conflict. European rooftop solar demand surged as households sought to limit exposure to higher fuel costs. Shares in the Germany-based firm have doubled since late February on renewed energy security interest.
