SMA Solar profit triples, sees weak Europe demand

SMA Solar (S92G.DE), Germany's No.1 solar company, posted slightly lower than expected operating earnings for the first quarter, confirming its margins would narrow this year due to increased competition in the market for solar inverters.

"The SMA managing board anticipates falling demand in many European markets. It is too soon to tell whether the photovoltaic markets in America and Asia can compensate for this slowdown," it said in a statement on Thursday.

The company said first-quarter earnings before interest and tax (EBIT) reached 42.8 million euros ($55.4 million), compared with the average forecast in a Reuters poll of 45.4 million.

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