In contrast to its nearest public listed rivals (SMA Solar, Sungrow and Enphase) SolarEdge’s sales trajectory and immunity to current industry dynamics is setting the company apart in a crowded market.
SMA Solar announced last month that had been forced to lower its full-year revenue and profit guidance due to the market downturn in China that had led to plummeting product prices and delay’s to PV Power plant development across major markets.
The company had lowered its expected 2018 revenue to be in the range of €800 million to €850 million, down from previous guidance of €900 million to €1,000 million. The company also guided a major decline in expected EBITDA, due to new restructuring charges and was expecting a break-even to slightly negative EBITDA for the full-year, compared to previous guidance of achieving EBITDA of €90 million to €110 million in 2018.
China-based rival Sungrow Power supply recently reported a 22% quarterly decline in revenue (operating income) in the third quarter of 2018, compared to the previous quarter.
Enphase has yet to report quarterly results but had guided revenue to be within a range of US$76 million to US$82 million, after posting Q2 revenue of US$75.9 million.
In contrast, SolarEdge reported another quarter of record revenue, which reached US$236.6 million in the third quarter of 2018, a 42% increase year-on-year and 4% higher than the previous quarter.