Image: SMA Solar

German solar inverter maker SMA Solar posted a net loss of €42.4 million (US$49.4 million) in the first half of 2025, reversing a net profit of €44.1 million recorded in the same period of 2024. The company cited continued weak demand in both the residential and corporate & industrial (C&I) solar sectors.

SMA Solar’s sales totaled €684.9 million (US$797.5 million) during the first six months of 2025. Of this, the residential segment contributed €54.0 million (US$63 million), while the C&I segment accounted for €62.1 million (US$72.3 million). This compares to €109.9 million (US$128.1 million) and €113.6 million (US$132.5 million) respectively in the first half of 2024.

The decline is even more pronounced when compared to H1 2023, when residential sales reached €327.3 million (US$381.6 million) and C&I sales €194.2 million (US$226.4 million).

Jürgen Reinert, CEO of SMA Solar, explained: “The market for residential and commercial solar systems remained weak in the first half of 2025. Alongside slowing growth rates in Germany, competition and price pressure from Asian suppliers have increased once again. Additionally, some distributors continue to hold persistently high inventory levels, which are being reduced only slowly.”

This challenging situation has been a common theme for Western inverter manufacturers over the past year. Industry leaders including SMA Solar, SolarEdge, Enphase Energy, and Fronius have all faced losses, workforce reductions, and declining business performance due to subdued residential demand and rising competition from Chinese companies.