FRANKFURT Oct 18 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
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
($1 = 0.7638 euros)
(Reporting By Edward Taylor)