SMA Solar Technology (ETR:S92) has released its full-year 2023 financial results, showcasing strong financial performance. The company experienced a significant increase in revenue, reaching €1.90 billion, up 79% from the previous year. Net income also saw a substantial increase to €225.7 million, representing a 304% increase from the previous year. Additionally, the profit margin improved to 12%, compared to 5.2% in the previous year, mainly due to higher revenue. Earnings per share (EPS) increased to €6.50 from €1.61 in the previous year.
Revenue for SMA Solar Technology exceeded analyst estimates by 2.3%, while EPS also surpassed expectations by 3.5%. Looking ahead, the company is forecasted to experience an average annual revenue growth of 8.0% over the next three years, slightly below the expected growth rate of 8.3% for the Semiconductor industry in Germany as a whole.
The performance of the German Semiconductor industry has had an impact on SMA Solar Technology’s shares, which have declined by 1.9% over the past week despite this, analysis suggests that it may be undervalued based on six different valuation metrics.
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