Nov 13 (Reuters) - SMA Solar Technology plans
to cut up to 1,100 jobs worldwide, the German solar power parts
supplier said on Wednesday, nearly two months after it announced
a restructuring program.
The group revenue was also slightly lowered to a range of
1.45 billion ($1.53 billion) to 1.5 billion euros for the full
year, the company said, adding that it aims to achieve cost
savings of 150 million to 200 million euros.
The company incurred one-off inventory value adjustments and
restructuring expenditures amounting to an estimated 100 million
to 140 million euros for the current fiscal year.
It now expects EBITDA (earnings before interest, taxes,
depreciation, and amortization) to be between minus 20 million
euros to 20 million euros, and EBIT (earnings before interest
and taxes) to be between minus 100 million euros to minus 50
million euros.
SMA had initially cut its profit forecast in June, citing
elections to the European parliament and the presidential
elections in the U.S., which had contributed to market
uncertainty.
($1 = 0.9466 euros)