SMA Group concludes the 2023 fiscal year extremely successfully with strong fourth quarter in the Large Scale & Project Solutions segment

SMA Group, a leading global provider of solar photovoltaic (PV) solutions, has announced its preliminary results for the 2023 fiscal year, which ended on December 31, 2023. The company reported strong growth in its Large Scale & Project Solutions segment, with particularly robust performance in the fourth quarter of the year.

According to the announcement, SMA Group's revenue for the 2023 fiscal year is expected to be around €4.5 billion, representing an increase of approximately 17% compared to the previous year. This growth was driven by strong demand for SMA's PV solutions in both the residential and commercial markets, as well as the company's successful entry into the large-scale solar market.

In the Large Scale & Project Solutions segment, SMA Group reported particularly strong performance in the fourth quarter of 2023, with revenue growth of around 25% compared to the same period in the previous year. This was driven by a number of major project wins, including the successful completion of several large-scale solar projects in Europe and Asia.

In addition to its strong financial performance, SMA Group also made significant investments in research and development during the 2023 fiscal year, with a focus on developing new and innovative PV solutions that will help the company stay at the forefront of the industry. The company also continued to expand its global presence, with the successful entry into several new markets, including India and Japan.

Overall, SMA Group's preliminary results for the 2023 fiscal year demonstrate the company's strong position in the global PV market, with particular success in the Large Scale & Project Solutions segment. The company's focus on innovation, expansion, and strong financial performance is likely to continue to drive growth in the years ahead.