No 18 2021 Solar increases 2021 EBITDA to DKK 900M
15 Octubre 2021 - 1:00AM
No 18 2021 Solar increases 2021 EBITDA to DKK 900M
Based on preliminary reporting, Solar increases its guidance for
2021 EBITDA to DKK 900m from DKK 825m.
Moreover, we are increasing revenue guidance by DKK 200m to DKK
12.3bn compared to our previous guidance of DKK 12.1bn as presented
in announcement no. 15.
CEO Jens Andersen says: "Q3 has been a continuation of
the strong growth rates we saw in Q2. Our Core+ strategy continues
to exceed expectations by among other things increasing our Concept
and Industry business - with Industry delivering all-time high
growth in September.
Furthermore, we expect the strong demand experienced in Q3 to
continue in Q4. This also applies to price effects that we estimate
will have a total one-off impact of DKK 100m on EBITDA for the full
year 2021.”
Q3 key financial messages
- With 8.8% organic growth, we realised stronger growth rates
than anticipated in all markets.
- The growth was supported by our four strategic focus areas
Concepts, Industry, Climate & Energy and Trade.
- One-off price effects resulted in an impact of approx. DKK 50m
on gross profit.
Financial highlights (DKK million) |
Q3 2021 |
Q3 2020 |
Q1-Q3 2021 |
Q1-Q3 2020 |
Revenue |
2,872 |
2,618 |
8,974 |
8,408 |
Gross profit |
660 |
563 |
1,999 |
1,748 |
EBITDA |
237 |
177 |
652 |
446 |
EBITA |
192 |
132 |
515 |
310 |
EBIT |
179 |
115 |
475 |
262 |
Financial ratios (%) |
|
|
|
|
Organic growth
adj. |
8.8 |
-4.8 |
5.4 |
-0.8 |
Gross profit
margin |
23.0 |
21.5 |
22.3 |
20.8 |
EBITDA
margin |
8.3 |
6.8 |
7.3 |
5.3 |
Guidance 2021
Guidance overview (DKK million) |
Updated guidance |
Latest guidance |
Revenue |
12,300 |
12,100 |
EBITDA |
900 |
825 |
Revenue guidance
We now expect revenue at DKK 12.3bn, corresponding to an organic
growth of approx. 6%. The Better Business project is an integral
part of our strategic focuses in the Core+ strategy and is expected
to reduce revenue by DKK 200m compared to 2020. Adjusted for this,
we expect organic growth of approx. 8%.
EBITDA guidance
Supported by increased demand we expect the strategic focus
areas to deliver continuous improvements in earnings, resulting in
an EBITDA of DKK 900m, of which DKK 100m can be explained by
one-off price effects.
Contacts
CEO Jens Andersen - tel. +45 79 30 02 01 CFO Michael H. Jeppesen
- tel. +45 79 30 02 62 IR Director Dennis Callesen - tel. +45 29 92
18 11
FACTS ABOUT SOLAR
Solar is a leading European sourcing and services company mainly
within electrical, heating & plumbing and climate & energy
solutions. Our core business centres on product sourcing,
value-adding services and optimisation of our customers’
businesses.
We facilitate efficiency improvement and provide digital tools
that turn our customers into winners. We drive the green transition
and provide best in class solutions to ensure sustainable use of
resources.
Solar Group is headquartered in Denmark, generated revenue of
more than DKK 11.5bn in 2020 and has approx. 2,900 employees. Solar
is listed on Nasdaq Copenhagen and operates under the short
designation SOLAR B. For more information, please visit
www.solar.eu.
Disclaimer
This announcement was published in Danish and English today via
Nasdaq Copenhagen. In the event of any inconsistency between the
two versions, the Danish version shall prevail.
- No. 18 2021 Solar increases its guidance for 2021
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