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SMA Solar says railway tech unit sale to boost Q1 earnings
March 29, 2017 / 5:24 AM / 9 months ago

SMA Solar says railway tech unit sale to boost Q1 earnings

BERLIN, March 29 (Reuters) - 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

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