SMA Solar says railway tech unit sale to boost Q1 earnings
BERLIN, March 29 SMA Solar, the world's largest maker of solar inverters, said it agreed to sell unit SMA Railway Technology to Chinese railway technology group Beijing Dinghan Technology, which will have a positive impact on its first-quarter earnings.
The two parties have agreed not to disclose the deal price, SMA Solar said in a statement on Wednesday.
The sale will have a positive impact on earnings in the first quarter, SMA Solar said, predicting earnings before interest, tax, depreciation and amortisation of 15-18 million euros ($16-$19 million).
It confirmed its full-year targets.
($1 = 0.9252 euros) (Reporting by Victoria Bryan; Editing by Sherry Jacob-Phillips)