SMA Solar sees severe sales decline, potential loss in 2013

FRANKFURT Thu Oct 18, 2012 12:35pm EDT

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FRANKFURT Oct 18 (Reuters) - SMA Solar Technology on Thursday said it expects a severe decline in sales and that it may even post a loss in 2013, blaming subsidy cuts in photovoltaics and a steep downturn in Europe.

The company said in a statement it expects 2013 sales to be between 900 million euros ($1.18 billion) and 1.3 billion euros, achieving a break-even operating result at best, and did not rule out a loss.

For 2012, the company expects sales of between 1.3 and 1.5 billion euros.

The company further said it will cut 450 employees world-wide and stop using 600 temporary staff.

The managing board said it expects a return to profitability from 2014.

($1 = 0.7638 euros) (Reporting By Edward Taylor)

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