SMA Solar launches restructuring plan to avoid wasting as much as €200 million – pv journal Worldwide

From pv journal Germany

SMA Solar Technology AG has launched a “group-wide restructuring and transformation program.” The board hopes to realize price financial savings of roughly €150 million to €200 million.

“With the renewal and transformation program that’s now underway, we are going to strengthen SMA financially within the brief time period and, on the identical time, regulate the medium and long-term enterprise technique,” stated SMA CEO Jürgen Reinert.

The restructuring program consists of three key steps. The firm plans to optimize its price construction, regulate its organizational and operational setup, and strategically place itself available in the market, in response to SMA.

“For SMA to proceed to be part of the worldwide power transition sooner or later, we have to place ourselves higher and in a future-proof method,” Reinert stated.

SMA has not but revealed any particular measures, however job cuts are doubtless. Discussions with the corporate’s co-determination physique will happen within the coming weeks. SMA stated these measures will assist it develop profitably in a risky market atmosphere.

“The foremost precedence is to extend profitability and proceed to strengthen the monetary stability of the corporate,” stated SMA CFO Barbara Gregor. “The decisive issue now’s to shortly formulate our formidable plans after which implement them in a disciplined and constant method.”