Germany’s SMA Solar says 2016 operating profit could quadruple

* SMA sees 2016 EBIT at 80-120 mln eur vs 30-33 mln in 2015

* Sees 2016 sales at 950 mln to 1.05 bln eur vs 1.0 bln

* Shares drop more than 10 percent (Adds shares, sales guidance)

FRANKFURT, Jan 29 Germany’s largest solar power equipment maker, SMA Solar, said on Friday that its operating profit could quadruple this year due to strong demand for its inverters in markets outside Germany, notably the United States and Britain.

Its forecasts were not as strong as some analysts had estimated, however, and its shares fell sharply.

SMA said it expects its earnings before interest and tax (EBIT) to rise to between 80 million and 120 million euros ($87-131 million) this year from 30-33 million in 2015, SMA said as it held its investor day on Friday. Read More…