SMA Solar CEO takes leave while SMA Solar stock sits 15.70 percent below its high

SMA Solar Technology AG (ISIN DE000A0DJ6J9) last traded at EUR 59.60 on Xetra on October 6, 2026 at 12:28 p.m. CEST, leaving the stock 15.70 percent below its EUR 70.70 52-week high. According to Finanznachrichten on September 15, 2026, CEO Jürgen Reinert was absent due to illness and Olaf Heyden assumed the CEO responsibilities.

Leadership change meets stronger earnings

The management transition arrives against a materially improved first-half operating picture. In the first half of 2026, SMA Solar reported group sales of EUR 687.0 million, compared with EUR 685.0 million in the prior-year period, according to Yahoo Finance. The comparison is broadly stable at group level, but profitability improved sharply.

Operating EBITDA before one-off effects increased to EUR 66.0 million from EUR 50.0 million in the first half of 2025, while reported EBITDA reached EUR 88.0 million from EUR 9.0 million, Yahoo Finance reported. Free cash flow also rose to EUR 72.0 million from EUR 66.0 million, giving the earnings recovery a cash-flow component.

Backlog supports second-half outlook

Order visibility strengthened during the first half. SMA Solar's order backlog reached EUR 1.75 billion at the end of June 2026, compared with EUR 1.16 billion a year earlier, according to the earnings-call transcript. Large-scale order intake reached EUR 567.0 million in the second quarter, a record for that division.

Management's full-year 2026 outlook calls for revenue of EUR 1.625 billion to EUR 1.725 billion and EBITDA of EUR 180.0 million to EUR 230.0 million. The range reflects higher expected second-half activity, cost reductions and tariff refunds, while the Home and Business Solutions division is still expected to report negative earnings in 2026.

Results date sets the next test

SMA Solar's next scheduled reporting event is the publication of its January to September 2026 quarterly update and an analyst conference call on November 12, 2026, according to the company's investor-relations page. For investors, the key issue is whether the higher backlog converts into sales and operating profit in the second half while the leadership handover proceeds.

Market capitalization stood at EUR 2.1 billion on October 6, 2026. The 52-week range was EUR 21.68 to EUR 70.70, putting the Xetra price materially above its low but below the yearly high. Price source: substitute price Xetra, Lang & Schwarz without data set.

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